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AARP insurance review 2023
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.
AARP members who want to find low-cost insurance policies may benefit from working with AARP.
AARP car insurance
If you’re over 50 and shopping for car insurance, AARP’s auto insurance offerings through The Hartford may provide 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 AARP car insurance customers 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.
Available discounts to lower your rates include:
AARP home insurance
An AARP membership may be beneficial for the access it provides to The Hartford home insurance. The Hartford has a reasonable Bankrate Score of 3.5 for its home insurance offerings. It’s helped by its coverage options, for which it earned a perfect score of 5.0, but is hampered by its high cost and middle-of-the-road support. That means it might be a good choice for people who want the best coverage, even if the customer service isn’t perfect.
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.
Pros and cons of AARP home insurance
Like all companies, AARP homeowners 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 are more expensive on average
Only available to AARP members
Policies are not issued directly by AARP
AARP home insurance cost
Home insurance through The Hartford is far from the cheapest. You’ll pay well over the national average, with a typical premium of $1,973 from The Hartford compared to the national average of $1,428 for $250,000 in dwelling coverage.
Still, that high cost may be worth paying for if you want to take advantage of the company’s strong coverage and variety of options.
|Dwelling coverage limit||The Hartford average premium||National average premium|
*All rates displayed are average annual rates.
AARP home insurance discounts
The Hartford offers a variety of discounts for AARP home insurance buyers to help policyholders with home insurance costs. Discount opportunities include:
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 life policies difficult. Though New York Life doesn’t have a Bankrate Score, it could be a strong choice for older people because it has no medical exam requirement and offers a guaranteed acceptance option for those 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, change the monthly premium, 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.
Compare AARP with other insurers
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?
For the right people, namely those over the age of 50, AARP’s insurance partners could be a good choice for home, auto and life coverage. AARP members may find the perks and conveniences tailored to their age demographic outweigh the benefits and services from other companies.
Still, options are limited compared to some other insurers, and applicants must be AARP members to apply. Take the time to shop around and compare other insurers before settling on a company to work with.
AARP customer satisfaction
Several third-party companies rank insurers on factors like customer satisfaction and financial strength. Perhaps two of the most significant are J.D. Power 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 auto, home or life insurance through their AARP membership should instead research third-party assessments directly tied to the underwriting company — in this case, likely The Hartford or New York Life.
Other AARP tools and benefits
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.
- Other insurance options: AARP members can work with The Hartford for a variety of insurance coverage options, like flood insurance and umbrella insurance.
- Financial education resources: AARP members can get help with their taxes and access educational articles and calculators that can help them manage their money.
- Estate planning: AARP members can likely get a 20 percent discount on estate planning services from Trust & Will.
- 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.
Frequently asked questions about AARP
Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C.
Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000, $750,000
- Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000
- Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000
- Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000
- Coverage E, Liability: $300,000, $300,000, $300,000, $300,000, $500,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes will differ.