AARP insurance review 2023
The Bankrate promise
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation of . Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our .
At a glance
About Bankrate Score
Retirees may find having an AARP membership a helpful way to get auto, life and home insurance. Although not an insurance company itself, the American Association of Retired Persons, known commonly as AARP, provides several services for people over the age of 50 and connects them with partner companies for insurance products.
Highly rated auto and home claims service from The Hartford
Numerous home endorsements available
Only partners with The Hartford and New York Life
Coverage eligibility is restricted to AARP members
AARP car insurance
If you’re over 50 and shopping for car insurance, AARP’s insurance offerings through The Hartford may offer you some special perks. Depending on your state, you may have access to The Hartford’s RecoverCare program, which can help pay for services you can’t do yourself if you are injured in an accident. The Hartford also has a large array of discounts to help you lower your car insurance bill.
Coverage is available in all 50 states and Washington, D.C., but specific options can vary by location. While The Hartford offers standard auto insurance, it doesn’t offer much in the way of unique coverage to help them stand out. Instead, AARP membership perks represent some of its most impactful selling points. Customers interested in building a robust auto policy may want to consider other top car insurance companies.
Pros and cons of AARP car insurance
To help determine if The Hartford car insurance for AARP members is a good fit for you, we’ve included some of the pros and cons in our AARP Insurance review.
The Hartford scores well on customer claims satisfaction
AARP members get extra benefits along with their auto insurance
Allows for bundling of home and auto through The Hartford
Eligibility limited to AARP members only
Can add some complexity to processes since AARP is not an insurance company but partners with insurers
Drivers under 50 aren’t eligible for membership
AARP car insurance discounts
The Hartford offers a variety of discounts to help with the cost of car insurance, which could make it one of the best cheap car insurance companies for drivers over 50. Discount opportunities include savings for being an AARP member, bundling and paying in full.
AARP car tools and benefits
In addition to standard auto insurance, AARP also offers coverage through The Hartford for various other vehicles as well as some car services. When requesting a quote, be sure to include all the coverage types that you’re interested in. Keep in mind that each coverage selection will add to your insurance rate.
- Roadside assistance
- Classic cars
- Business vehicles
- Golf carts
The Hartford also boasts a 24/7 claims hotline and offers a lifetime guarantee on repairs done by its preferred body shops.
AARP home insurance
An AARP membership may be beneficial for the access it provides to The Hartford home insurance. Home insurance through The Harford gives members numerous ways to personalize their coverage. Optional coverage types include green rebuilding coverage, lock replacement coverage or scheduled personal property coverage, among others. While not necessarily one of the cheapest home insurance companies, The Hartford is highly rated for customer satisfaction.
Pros and cons of AARP homeowners insurance
Like all companies, AARP home insurance through The Hartford has benefits and downsides worth considering before deciding whether to pursue a policy. The following table highlights some points to note about the insurer when reviewing home insurance quotes.
Offers several types of add-on coverage
Available in 49 states and Washington, D.C.
Offers five ways to save on home insurance policies
Policies more expensive on average
Only available to AARP members
Policies are not issued directly by AARP
AARP home insurance discounts
The Hartford offers a variety of discounts for AARP members to help policyholders with home insurance costs. Discount options include savings for retirees, having fire-prevention systems installed and being claims-free.
AARP home tools and benefits
In addition to standard home coverage, The Hartford offers umbrella and flood insurance, as well as insurance for renters, landlords, and condo owners.
AARP life insurance
AARP members looking for a life insurance company may want to consider AARP’s life coverage through New York Life, especially if health complications have made finding such policies difficult. Term and permanent life insurance options are available, and no medical exam is required. There is even a guaranteed acceptance option for those who deal with chronic or severe health issues.
AARP life insurance through New York Life is available in all 50 states, but some products may not be available in all areas.
- Term: AARP sets term policies to expire when the insured individual reaches age 80. While this cutoff may reduce how viable the policy is for members, it is offered without needing a medical exam. AARP offers a terminal illness rider that can be attached to term plans. Term policies are often recommended for younger demographics and may be best for AARP members who are closer to 50 than 80.
- Permanent: AARP offers whole life for permanent life insurance, with coverage amounts up to $50,000. These policies may be best for those who want a plan that lasts for their whole life instead of ending at a specific age or time.
- Whole: Whole life policies last for your entire life (so long as premiums are paid) and include a cash value investment component. These policies pay out a death benefit to beneficiaries and can accumulate cash value while you live. The cash value component can only be used while the policy is active and before it pays out a death benefit.
- Guaranteed: AARP offers guaranteed acceptance policies that are available without medical exams or related questions, but coverage amounts are limited to a maximum of $25,000. However, premiums are fixed and will remain level for the life of the policy.
Pros and cons of AARP life insurance
Before committing to a life insurance quote, review some of the potential pros and cons of the company.
No medical exams
Options for guaranteed acceptance
Strong financial rating with AM Best
Relatively low coverage limits
Minimal options for policy types
Few options in the way of policy riders
AARP life insurance endorsements
Many insurers allow you to modify your policies with endorsements. These may alter the coverage amount, add clauses for partial payouts and more. The New York Life AARP website doesn’t list many life insurance endorsements on its website, only highlighting its Term Rider Protect Plus endorsement. Other riders may be available by talking with a New York Life agent directly. Remember that adding riders often increases the cost of a life insurance policy.
- Term rider protect plus: This rider allows you to change the coverage amount on your policy, potentially increasing it by up to double. It also includes a living benefit component that allows you to receive up to half your coverage while you still live if you have been diagnosed with a terminal illness.
AARP life tools and benefits
AARP does not offer additional services or coverage types for life insurance beyond its term, whole and guaranteed acceptance life insurance policies.
AARP customer satisfaction
Several third-party companies rank insurance companies on factors like customer satisfaction and financial strength. Perhaps two of the most significant are the J.D. Power reports and AM Best. J.D. Power ranks companies on a 1,000-point customer satisfaction scale, while AM Best provides ratings for a company’s historical ability to meet financial obligations. As AARP itself is not an insurance company, it does not have third-party ratings for insurance.
Those interested in insurance from auto, home or life insurance through their AARP membership should instead research third-party assessments directly tied to the underwriting company — The Hartford or New York Life.
How to file a claim with AARP
Filing a claim with AARP looks different depending on the type of insurance policy being filed on. For life insurance, claims filing can be initiated by online form or phone at 800 288-9858.
For auto insurance, claims can be initiated by phone at 877-805-9918, or by using one of the online forms. Similarly, homeowners insurance claims can be filed online or by phone at the same number as auto claims.
No matter which method you choose, you’ll want to have your policy information on hand. It’s also essential to have any relevant information relating to the incident you’re filing a claim for.
The AARP offers services in all 50 states and Washington, D.C., but some services and product availability vary between states.
Other AARP perks worth considering
AARP is known for its perks, of which insurance is just one. Some other benefits of being an AARP member include:
- Discounts: AARP members get access to exclusive member discounts on travel planning, hotels, car rentals, flights, cruises, health and wellness programs and more.
- Wellness tools: AARP caters to members aged 50 and older, and that population comes with distinct health considerations. AARP provides tools designed to help retired persons live their happiest and healthiest lives.
- Health programs: With an AARP membership, you may have access to dental and vision insurance, as well as hearing loss support.
- Job postings: You don’t have to be retired to join AARP. In fact, the community has a thriving job board that might help you find your next career move.
- Free online games: Although not the weightiest benefit, AARP offers a selection of free online games. Boredom may occur during retirement years, and these games could help combat that.
AARP corporate sustainability
AARP states that its mission is to empower people to enjoy life as they age. The organization leans into social responsibility in several ways, including the AARP Foundation. The foundation helps raise awareness of senior poverty and provides solutions for seniors to better their financial situations. AARP is also a member of the Better Business Bureau Wise Giving Alliance, which denotes that it has been ranked highly for charity accountability.
AARP advocates for social change in ways that benefit seniors. That has included lending its voice and gravitas to Social Security updates, health care and medical costs conversations, and housing considerations. AARP also provides resources to foster education around the issue of senior hunger and solutions for seniors who are struggling with food or nutrition insecurity.
Not sure if AARP is right for you? Consider these alternatives
If you’re looking for a home, life or car insurance company and you aren’t sure if AARP’s partnerships are right for you, you might want to consider other companies. From cheap life insurance companies to insurers with more personalization options, we’ve compiled some potential alternatives to AARP.
AARP vs. State Farm
If you’re looking for an insurance provider with a proven track record of service, State Farm could be a great choice. The company also has a wide network of local agents, which could be appealing if you don’t prefer to handle your insurance digitally. State Farm has won 2023 Bankrate Awards for auto and life insurance due to the company’s excellent customer service, competitive average premiums and accessible agents.
Learn more: State Farm Insurance review
AARP vs. Geico
Known for offering low average rates and providing robust digital management options, Geico could be a good option for seniors on a budget. Keep in mind, though, that Geico’s home insurance is underwritten by various third-party companies depending on where you live. High-risk drivers may be especially interested in Geico, as they are known for offering competitive rates for drivers in that category. Its competitive rates helped it tie for a 2023 Bankrate Award for Best Auto Insurance Company Overall.
Learn more: Geico Insurance review
AARP vs. Auto-Owners
Sold by independent agents in 26 states, Auto-Owners could be a good choice for seniors looking for personalized coverage. Auto-Owners offers competitive rates for many drivers and homeowners, helping it win a 2023 Bankrate Award for Best Budget Home Insurance Company. The company offers several policy customization options, but may have fewer digital tools available than some alternatives. Its home insurance product, in particular, offers numerous endorsements and discounts to help you build a policy that works best for you.
Learn more: Auto-Owners Insurance review
Is AARP a good insurance company?
AARP could be a good insurance company for the right people. With nearly 50 years of combined industry experience and over 100 carriers reviewed, Bankrate is well-positioned to offer grounded insight and perspective on insurers and insurance products. People over 50 may find the perks and conveniences tailored to their age demographic outweigh the benefits and services from other companies. Highly-rated companies underwrite policies from AARP, and many of its policy types have several avenues for personalization. Still, options are limited compared to some alternatives, and applicants must be AARP members to apply.46years of industry expertise122carriers reviewed20.7KZIP codes examined1.2Mquotes analyzedOn This Page