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Home Insurance for over 50s: What are your options?


Whether you’re looking for a new place or staying where you are, it’s important that your home meets your needs. Your home insurance should do the same.

At Apia, we know everyone’s living situation is different. That’s why we offer a range of home insurance options to cover what’s important to you.

Home and contents insurance

If you’ve been living in the same house for a while, you’re probably familiar with the type of insurance right for it. However, if you’ve recently moved, you may have to start fresh.

Generally, home and contents insurance provides cover for a freestanding house and outbuildings like a garage or shed, and the belongings you keep inside them, against loss or damaged caused by insured events like fire, theft and storms.

Apia offers two levels of coverage: Home & Contents and Home & Contents Extra. Home & Contents Extra provides more comprehensive cover, including for accidental loss and damage, so you can choose the policy that best suits your needs.

Apartment insurance

If you’ve downsized and now live in a multi-storey building managed by a body corporate, Apia’s Apartment Insurance can provide cover for your contents. It includes coverage for things like:

  • fittings that a body corporate policy may not cover, such as an air conditioner
  • contents you’ve placed in locked cage inside a building that is located within your apartment complex, and
  • loss or damage to your sporting, recreation or leisure goods and equipment when they are in the boundaries of your residential complex.

Thinking about downsizing? Read more about the pros and cons.

Assisted living insurance

If you live in assisted living accommodation, like a nursing home, Assisted Living Residence Insurance might be useful for you. It’s designed to cover the belongings, like clothing, furniture and mobility aids, you keep in your unit if they’re affected by accidental loss or damage.

It’s worth noting your insured belongings are automatically covered up to a limit of $1,000 per item, pair, set or collection. However, if you have extra valuable items, be sure to list them on your policy as ‘specified valuables’. That way, you won’t be underinsured if you need to make a claim.

You can also choose to add ‘personal valuables — specified items’ cover to your policy as an optional extra. By doing so, items you carry with you, such as your hearing aid, jewellery and mobile phone will be insured if they’re accidentally lost or damaged whether you’re home or away. FYI, you’ll need to provide us with a description and replacement value for each item you’d like to include.

Village insurance

The decision to move into a retirement village can be a lifestyle choice that encourages a sense of community as you begin a new and exciting part of your life. It’s also an important financial decision, as you enter into a contract with a private entity that operates the complex.

Once you’ve committed to this move, don’t forget to insure your new home. Apia’s Village Insurance gives you the confidence of knowing that your unit and contents, including those stored in a locked cage inside a building within the complex, and shared property like your driveway, are covered if they’re affected by unexpected events.

Apia Home Insurance has been designed with you in mind. Plus, if you work less than 37 hours each week, you might be eligible to save on your premium with our Work Less Pay Less discount*. Get in touch with one of our insurance specialists today to see which policy may be right for you.

Compare Home Insurance options

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*If you are eligible for more than one discount, we apply each in a predetermined order to the already discounted premium (usually before adding taxes and charges). The discounts we offer are subject to change.​

Work Less Pay Less® discount does not apply to optional covers Apia Home Assist, Excess-free Glass cover and Apia Roadside Assist (if available).

Australian Pensioners Insurance Agency Pty Ltd (Apia) ABN 14 099 650 996 AR 239591 is an authorised representative of AAI Limited ABN 48 005 297 807 AFSL 230859 (AAI), the issuer of Home, Landlord, Car, Caravan, Motorhome, Boat, Travel & Compulsory Third Party Personal Injury (CTP) Insurance.

Please consider the Product Disclosure Statement before buying this insurance.

This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it.

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