Aging in Place? Insurance and Safety Tips for Empty Nesters and Retirees

While some choose to downsize or move into a retirement community, many older Americans would rather stay in the familiar setting of their own home. With proper planning, many seniors can continue to enjoy home, sweet home, even if they need medical care or help with managing and maintaining their residence. Retirees who plan to spend extended time away as travelers or snowbirds should also take steps to keep their homes safe and protected.

Whether aging in place or wintering in warmer climes, take these steps to stay safe and insure your changing lifestyle.

Safety and Security for Older Adults

As we get older, home safety and security become increasingly important considerations. The following improvements can keep you comfortable in your home for the long-term—and possibly qualify for some insurance discounts.

Fall Prevention

According to the federal government, falls are the leading cause of injury for seniors. About one in four adults 65 or older falls every year. Safety devices such as grab bars and anti-slip flooring can reduce the likelihood of falling. Stair lifts can make stairs easier to manage. Emergency devices can provide a communications lifeline if a fall or other injury or emergency occurs.

Security and Safety Systems

Seniors should also consider installing alarm systems and door cameras for additional safety. New, wireless technology makes it much easier to install security systems, even in older homes.

Smart home devices such as water leak sensors, smart locks and smart lighting or plugs can also make life safer and more convenient for people of all ages.

Fire Safety and Prevention

Routine fire safety checks become even more critical, particularly as the property itself ages. Older homes have an increased risk of fire, often due to outdated electrical systems that weren’t built for modern energy usage.

• Check smoke and carbon monoxide detectors every six to 12 months.
• Consider having an HVAC professional inspect the heating system annually.
• Clean dryer vents and chimneys at least once a year.

According to the National Fire Protection Association (NFPA), older adults (65+) are twice as likely to be killed or injured in fires compared to the general population.

Home Safety and Security During Extended Absences

For many seniors, retirement offers the opportunity for greater travel. Whether visiting bucket-list destinations or heading south for the winter, it’s important to protect your vacant home while you’re away. Certain risks increase for empty houses.

• Water damage. A burst pipe in an unoccupied home can go undetected for days or weeks. Water detection technology can provide early warning—for a fraction of the cost of extensive water damage.
• Theft or vandalism. A vacant house makes an attractive target. Smart lighting controls can make the property appear inhabited.
• Fire or weather damage. Fire and water detection technology can alert absent homeowners and emergency responders. It’s also important to have a trusted neighbor check on the property regularly, especially after severe weather.
• Liability exposure. When traveling during the winter, arrange for maintenance of walkways to prevent passers-by from slipping and falling.

Insurance Updates for a Changing Lifestyle

As lifestyles change, many people forget to share the news with their insurance partner. Empty nesters and retirees often need to update their insurance policies to keep up with their evolving situations.

• Adding safety equipment and security-related items can affect premiums. Some insurers may also provide discounts or rebates on certain equipment.
• Leaving a home empty for months while travelling can affect coverage and premiums. No one wants to come home from a winter in Florida to discover a theft, vandalism, or damage that isn’t covered because the home was unoccupied.
• Hiring in-home assistance, whether medical or for personal care, can increase a homeowners’ liability. Reviewing the policy to ensure the homeowner is protected is critical.

This is also the time to have heirlooms and other valuables appraised (if they haven’t been already) to make sure you have the right coverage.

If you have any questions about homeowners’ insurance or your current insurance policy, or if you would like a free insurance review, please call us at 877-576-5200.