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RE effect on Home Insurance
Old 03-14-2007, 04:50 PM   #1
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RE effect on Home Insurance

Hey, retirees, what is the effect on the cost of your home insurance when you retire and stay home?

Does it go down because you are (ostensibly) home all day (and therefore the house is 'safer" from intruders, etc.)

OR does it go up because you are (ostensibly) home all day and there's a higher risk of damage in/to your home because you are there.

Thanks,

omni

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Re: RE effect on Home Insurance
Old 03-14-2007, 05:27 PM   #2
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Re: RE effect on Home Insurance

Unlike my car insurance, which went down after we retired, there was no effect on home insurance. I guess the insurance company sees no change in the risks whether you are retired or not.

Grumpy
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Re: RE effect on Home Insurance
Old 03-14-2007, 06:10 PM   #3
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Re: RE effect on Home Insurance

Same here. Auto insurance went down by a considerable amount -- home owners stayed the same.
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Re: RE effect on Home Insurance
Old 03-14-2007, 06:35 PM   #4
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Re: RE effect on Home Insurance

Quote:
Originally Posted by grumpy
Unlike my car insurance, which went down after we retired, there was no effect on home insurance. I guess the insurance company sees no change in the risks whether you are retired or not.

Grumpy
Same for me.

House stayed the same.

Auto insurance was already low, but went down a bit.
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Re: RE effect on Home Insurance
Old 03-15-2007, 08:26 AM   #5
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Re: RE effect on Home Insurance

Quote:
Originally Posted by omni550
Hey, retirees, what is the effect on the cost of your home insurance when you retire and stay home?
Does it go down because you are (ostensibly) home all day (and therefore the house is 'safer" from intruders, etc.)
No change. I asked both USAA and Armed Forces Insurance and they don't use that as part of their pricing.

Apparently your auto insurance rates drop when your vehicle goes from "commuting" to "pleasure", but not your house...

However ER has given me plenty of time to review our policies, question every charge, and obtain competitor's quotes. So our insurance bill today is about half of what it used to be.
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Re: RE effect on Home Insurance
Old 03-15-2007, 09:53 AM   #6
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Re: RE effect on Home Insurance

Ineresting ... after reading this post I called GEICO to see what my non-commuter rate reduction is for our auto insurance. SAVED $121/year.

Thanx!
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Re: RE effect on Home Insurance
Old 03-15-2007, 10:08 AM   #7
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Re: RE effect on Home Insurance

since i was working in my underwear from my house for all those years i wasn't being charged the commuter rate so the only thing that has changed in retirement is my underwear.
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