Are you among the 45 percent of renovating and new homeowners that have added smart home devices to your residence this year? (U.S House Smart Home, 2016)
Many homeowners have been adding these devices to their homes for reasons such as: protecting home against intruders (67%), ability to monitor or control home when away (52%), ability to monitor or control from anywhere in the home (30%), get notification about fire or gas problems (29%), and lastly help keep an eye on loved ones (27%). If you are among this group, or if you are considering purchasing some sort of smart home device to either save money on heating, electricity bills or better secure your home, you may want to mention it to your insurance provider.
Insurance research company, Accenture reports in 2015, 22 percent of home insurance companies were running pilot programs to study connected home devices in home policies. Among these companies were State Farm and Liberty Mutual, which were the first insurance providers offering discounts for smart home devices. Insurance companies love smart home control and monitoring for a simple reason: Smart homes are protected homes, which means lower risk, according to MarketWatch.
If you are among the 55 percent of homeowners that have not yet upgraded your home with some sort of smart home technology, let’s have a look at some of the best options we have found and potentially save you money on your insurance policy.
These 3 Smart Devices Will Save You Money On Your Home Insurance. No, Really!
This Smoke and Carbon Monoxide Detector from Nest is the ultimate smoke alarm for your home.
This thing is jam-packed with added benefits including an industrial-grade smoke sensor, silencer from your phone, it automatically tests itself and lasts for up to 10 years! It also tells you what’s wrong so you know what to do and where to go and can even conveniently alert your phone in the event of an unforeseen event.
Liberty Mutual has recently teamed up with Nest and is claiming you could save up to 5%, which means the Nest will most likely pay off within the first year!
The Canary is a complete security system packed into a single device you control from your smartphone. You can stream real-time video of your home with Canary’s 1080p HD camera, 147-degree wide-angle lens, automatic night vision, and high-quality audio.
This device doesn’t need additional sensors and the setup takes minutes. Download the app, set Canary on a flat surface, plug it in, connect it to the internet, and you’re ready to go.
When you purchase the Canary through State Farm, you get a $20 Visa gift card and save $20 on a Canary Annual membership, as well as, receiving home insurance discounts.
Ring is an easy-to-install video doorbell that allows you to answer your door from anywhere using your smartphone.
With a motion-activated camera, two-way audio and brilliant HD video, you’ll never miss a visitor again.
American Family is currently partnered with Ring, which means once your Ring Video Doorbell is installed, you may also qualify for up to a 5% savings on your policy, depending on where you live. If your home is burglarized after your Ring is installed, you will be reimbursed by Ring for your deductible.
These are just a few examples of smart home devices that can save you money on home insurance. If you have a smart home device but it was not listed here give us a call (203) 481-8898 and we will work with your insurance provider to see if you are qualified for a discount. It is also important to note that traditional devices such as smoke detectors, fire alarms, and extinguishers are also considered when evaluating if you are qualified for a discount.
I hope you found this article hopeful. If you’d like to see more articles like this, please Like Us on Facebook!