Pros / It may waive your deductible up to $5,000 for damages of over $25,000.
Cons / This insurance claims to provide cheaper benefits for seniors, but that may not be the case.
Verdict / AARP provides its members homeowners insurance through The Hartford. It offers a higher replacement limit and deductible forgiveness, but it was not the cheapest insurance nor the highest in value per dollar.
AARP, the American Association of Retired Persons, has special offers for its members, such as homeowners insurance through The Hartford. It claims to have the best deals for people over 50 years old, but we didn't find its premiums to be the cheapest nor the amount of coverage per dollar to be the highest. However, it does offer special discounts for individuals who are fully retired or work part time, and some features other insurance companies did not offer.
The Hartford offers AARP members home insurance that can replace the damage of a home up to 150 percent of the insured value. Most agencies top out at 120 percent or 125 percent. This can be of significant importance if you are in your "forever home," or if your home is older and the materials to replace it make it more expensive than the value of the home itself. As with all insurance companies we considered, you need to purchase separate policies for flood.
If you have damages of over $25,000, AARP provides deductible forgiveness of up to $5,000. The average claim is $8,793, according to a national study, so while this can help in extreme circumstances, it's not as likely you'll get to take advantage of this benefit. This company will not cancel your insurance for any reason as long as you pay the premiums. Some companies opt to not renew policies if too many claims are made.
The Hartford will compensate you for the full replacement of lost or damaged valuables with other items of equal quality. If you have special items, such as antique jewelry or custom firearms, which are harder to place a value on, you should mention these when getting a quote. The Harford does not set limits for items lost or damaged in disasters, but it does limit how much it will replace in cases of theft.
While AARP claims to offer lower rates for seniors, we found the policy to be average among the agencies we considered, both in price and value. The Hartford offers retired AARP members who work less than 24 hours a week a special discount on insurance of up to 20 percent. However, when we called, the agent did not ask our employment status, so be sure to mention it. In addition, this agency uses your credit score when considering your quote. Several agencies do this as part of their risk assessment.
The Hartford provides homeowners insurance to AARP members with some extra benefits, although the prices and value are average for the companies we reviewed. If you are over 50, currently an AARP member or are interested in becoming a member, it's worth pricing out. If you are retired or working part-time, be sure to ask about the retiree discount.