AARP Homeowner Insurance: Understanding the Coverage

Homeowner insurance plays a crucial role in safeguarding our homes from unforeseen events. Natural disasters, accidents like fire, or even burglary are unpredictable occurrences that can affect our homes. AARP homeowner insurance steps in with substantial policies tailored for homeowners.

For those questioning the credibility of AARP, this article will help you assess whether AARP homeowner insurance meets the qualification criteria.

An Introduction about AARP

To comprehend AARP homeowner insurance, it’s essential to understand what AARP is. AARP stands for the American Association for Retired Persons, a non-profit organization primarily catering to individuals aged 50 and above.

Teaming up with The Hartford Insurance Company, AARP provides homeowner insurance specifically designed for seniors who may find standard insurance unaffordable. The collaboration offers discounts to AARP members, ensuring valuable coverage for retired individuals.

AARP Homeowner Insurance Coverage

Now, let’s delve into the coverage provided by AARP homeowner insurance:

  • Personal Property: Covers expenses for lost or damaged personal belongings like furniture or clothing.
  • Dwelling and Other Structures: Pays for repair costs in case of damage to your home or external structures like a garage or fence.
  • Medical Payments: Covers medical bills if someone is accidentally injured on your property, regardless of fault.
  • Personal Liability: Addresses legal fees and damage costs in case you injure someone or damage their property, leading to a lawsuit.
  • Loss of Use: Pays for hotel stays, meals, and transportation while your home is undergoing repairs.

AARP Homeowner Insurance Additional Coverage

Beyond standard coverage, AARP homeowner insurance offers additional benefits:

  • Reimbursement for Replacing Lock: Provides up to $500 for a missing or broken key.
  • New for Old Protection: Helps replace old items with new ones, regardless of their current condition.
  • Equipment Breakdown: Covers the repair or replacement of broken electronics and appliances.
  • Personal Injury Liability: Protects against defamation or slander, an uncommon feature in homeowner insurance policies.
  • Identity Fraud Expense: Aids in identity recovery by offering $25,000 for legal fees and loss of income due to identity theft.
  • Green Building: Encourages environmentally friendly rebuilding by increasing policy limits by up to 10%.
  • Water Backup and Sump Pump Overflow: Provides coverage for water damage in your home.

AARP homeowner insurance has various additional coverages suitable for elderly individuals. To explore more, contact their agents through their website.

Discounts by AARP Homeowner Insurance

While the standard price for an AARP homeowner insurance policy is approximately $134.70 per month or $1,617 per year, AARP offers additional discounts:

  • AARP Membership: Official AARP members automatically qualify for reduced insurance costs.
  • Retiree Credit: Grants a discount for individuals no longer working or working less than 24 hours per week.
  • Multi-Policies Discount: Offers up to 20% savings for purchasing multiple policies from AARP.
  • Installing Security Devices: Setting up security devices in your home leads to reduced policy costs.
  • Disappearing Property Deductible: Rewards policyholders who do not claim any coverage within a year with reduced payments.

How to Buy Insurance from AARP Homeowner Insurance

AARP homeowner insurance is available in almost every state in the U.S., excluding Florida. For those residing outside Florida, insurance can be purchased by accessing The Hartford company’s website for an online quote. Alternatively, you can contact local agents to arrange a meeting.

Provide details such as your address, age, and comprehensive information about your house during the meeting. Upon completion, you will receive an insurance quote.

Is AARP Homeowner Insurance Suitable for the Elderly?

AARP homeowner insurance is beneficial for the elderly as the organization is dedicated to the well-being of retired individuals. It operates as a non-profit organization in collaboration with an insurance company, ensuring affordable insurance policies for seniors.

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