Is Home Insurance more or less when you retire?

Leear

On first thoughts I thought it would be less as your not out at work all day, but is it more as your around your home more?

And must I tell my insurer when I retire?

Farway

Mine stayed the same

You tell the insurer in a roundabout way, your "occupation" will change to "retired" from whatever it was

Wicked_Lady

I've just changed mine to retired and our house insurance dropped by about £20

moneyistooshorttomention

I must remember to say that I'm retired next time I renew my insurance then.

I know my insurance costs went down when I turned 50. I was aware that people in that agegroup are deemed to be a more responsible agegroup - so instantly started shopping around again the second I hit my 50th birthday. I was surprised to find that my first thought (ie Saga) would have actually charged me more than I was paying anyway - but I found a cheaper one.

I havent changed insurer basically since 50 - and never told current one when I retired. So must make a point of that in case I can get a further reduction.

Leear

I just phoned my home insurer (Direct Line) and being retired makes no difference!

Savvy_Sue

Ours went up slightly when DH started working from home: the benefit of having the home occupied and therefore at lower risk of burglary is apparently offset by the higher risk of him doing something daft which might give rise to a claim. Go figure.