Homeowner insurance is essential to avoid unwanted things happening to our houses. We cannot predict natural disasters such as tornadoes or accidents like fire or even burglary happening to our homes. AARP homeowner insurance comes to the rescue with its significant insurance policies for homeowners.
Some of you might wonder if it is a good idea to trust the AARP company. Still, by the end of this article, you can conclude whether AARP homeowner insurance is qualified or not.
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An Introduction to AARP Homeowner Insurance
First of all, let’s start by understanding AARP. What is AARP? AARP stands for American Association for Retired Persons, it is a non-profit organization for elderly people, mainly with the age above 50.
AARP works together with The Hartford Insurance Company to provide homeowner insurance policies for elderly people who want one but cannot afford to buy the standard one. Together, the companies give discounts to their customers, as long as they can prove they are part of AARP members.
With various discounts and coverage available, AARP homeowner insurance is valuable and great for retired people.
AARP Homeowner Insurance Coverage
Now that you know what kind of company AARP is, the next question to be answered is their insurance coverage. So, the basic coverage that AARP homeowner insurance cover is as followed:
1. Personal Property
In case your property such as furniture or clothes is lost or damaged, AARP homeowner insurance will cover the expense of that thing.
2. Dwelling and Other Structures
If there is damage in your home or outer structure such as a garage or fence, this coverage will pay for the costs of the repair process.
3. Medical Payments
Accidentally hurt someone on your property? No worries; AARP will cover the medical bills for that person, no matter whose fault it is.
4. Personal Liability
On the condition that you injured or damaged someone’s property and they decided to sue you, this coverage will pay for the legal fees and the damage costs.
5. Loss of Use
While your house is under repair, you need to stay in other places. AARP homeowner insurance makes sure your stayings are great by offering to pay the expense of your hotel stays, meals, and transportation.
AARP Homeowner Insurance Additional Coverage
In addition to their standard coverage, AARP homeowner insurance has plenty of additional coverage. What are those? Let’s continue reading to find out!
1. Reimbursement for Replacing Lock
Keys are small and easily got lost. With this coverage, you can get up to $500 for a missing or broken key.
2. New for Old Protection
AARP will help you to turn your old items into new ones. It does not matter if the object is already old-fashioned or not in good condition.
3. Equipment Breakdown
It covers the expense of repairing or replacing broken electronics and appliances. However, electronics that broke due to old age cannot be claimed.
4. Personal Injury Liability
This coverage pays and protects you against defamation or slander against your name. Something unusual for a homeowner insurance policy.
5. Identity Fraud Expense
AARP homeowner insurance policy is ready to help you recover your stolen identity by providing $25,000 to replace the legal fees and loss of income.
6. Green Building
By using environmentally friendly materials to rebuild your home, your policy limit gets increased up to 10%. You are not only saving the earth by doing this but also saving your wallet.
7. Water Backup and Sump Pump Overflow
Any water damage in your home will be covered by AARP homeowner insurance policy.
Furthermore, this company has many more additional coverages that are suitable for elderly people. Contact their agents through their website to find out more.
Discounts by AARP Homeowner Insurance
The original price of an AARP homeowner insurance policy is around $134.70 per month or $1,617 per year. It is an affordable price, but AARP offers other discounts for their customers. What kinds of discounts are there?
1. Becoming a Member of AARP
If you are an official member of the AARP organization, you will automatically qualify to get the insurance for lesser money.
2. Retiree Credit
For those who no longer work or work less than 24 hours per 7 days, you will be granted a discount by the AARP home insurance company.
3. Multi-policies Discount
Buying multiple policies from 1 company saves you money rather than shopping around different insurance companies. Besides, it is easier to track and pay the policies at the same place and time. At AARP, you can even save up to 20% of your money for buying multiple policies.
4. Installing Security Devices
Setting up security devices inside your home is a great idea because you can feel safer and the cost of your policies will be cheaper too. So, getting a burglar alarm, smoke detector, and CCTV camera in your home is highly suggested.
5. Disappearing Property Deductible
Not claiming any coverage within a year will decrease the amount of your payment. Thus, if there is any small damage that you could possibly repair by yourself, no need to claim that from the insurance company.
How to Buy Insurance from AARP Homeowner Insurance
The AARP Homeowner Insurance company sells insurance policies in almost every state in the U.S. The only exception is Florida. So, if you live in Florida, there is no way for you to purchase insurance policies.
However, if you do not live in Florida and want to contact the AARP homeowner insurance company, you can access The Hartford company’s website and ask for an online quote. Meanwhile, if you prefer to meet up directly then you can contact their local agent and arrange a meeting with them.
You will be asked to fill out information such as your address, age, and detailed information about your house during the meeting. After finishing the process, you will then be given an insurance quote.
Is the AARP Homeowner Insurance Good for the Elderly?
The AARP homeowner insurance policy is good for elderly people because the organization cares for elderly and retired people. It is a non-profit organization working together with an insurance company because they want to make sure elderly people have access to affordable insurance policies.
If you are already retired or know someone who does, then AARP will be helpful for you. Check out their website to decide whether you want to try them or not.
