Ignoring those creaking knees that take a little longer to get you up from a chair and thinning hair, most of us like to think we are the hard-living hell raisers we were 30 years ago. The good news is that despite the way we see ourselves in the mirror, insurers are falling over themselves to offer over-50s cheaper home insurance.
Insurance companies take the view that maturity is like a light bulb that automatically lights up when you flick the over 50 switch. Those pesky brats aged 49 are just not responsible enough to get the offer of more features and benefits for less money.
Insurance companies see over-50s as a lower risk, especially if you live in a low crime rate neighbourhood.
The likelihood is specialist insurers will offer discount rates and even cash-back incentives to lure you away from your current insurer because they believe you are more honest when making a claim, and will make less of them because you look after your possessions better than younger homeowners.
Other add-ons probably include enhanced building and contents cover, home security discounts and increased protection if your home is left vacant for more than 30 days on one of those extended trips to see the family or long breaks in the winter sun.
New for old replacement is another perk, only don’t raise your hopes too much because the cover does not extend to trading in your partner!
Over 50s contents insurance also takes in to account a lifetime spent collecting nice things for the home, like antiques and family heirlooms. Most of us aged 50 plus have a lot more belongings that would cost a small fortune to replace than we owned when we were in our 20s. Insurance cover for over 50s often takes this in to account with extra protection for high value possessions.
The same goes for those green-fingered over 50s who enjoy their gardens now they have more time to care for their lawns and plants. Home insurance also factors in cover for expensive shrubs and that garage or shed bulging with tools, mowers, garden furniture and toys for when the grandchildren come to play.
With so many firms offering insurance deals for the over 50s, shopping around pays so before signing up, check out if your insurance broker can find the same cover at a better price.