Smart home technology is rapidly moving into the mainstream. While some homeowners have concerns about privacy and security breaches, others have enthusiastically embraced the capabilities of home automation. One reason for this phenomenon is financial: insurance companies often provide substantial discounts for homeowners who implement home automation and smart home technology into their residences.
Smart home technology translates into significant savings on utility bills – electricity, heat, and water, through reduced waste, and the ability to monitor and manage utilities and appliances remotely and optimally. Many utility companies also provide reductions on monthly bills for customers using smart home technology. Insurance companies have begun to provide similar discounts for customers utilizing certain brands of smart home technology.
Burglary and robbery represent two major sources of homeowner claims. Homeowners who install home security systems are often eligible for significant discounts from their insurance companies. Once extremely expensive, home security systems have dropped rapidly in price, even while technology has improved. Combined with promotional offers that frequently drop expensive installation fees, home security systems have become increasingly affordable for middle-income households.
Indoor Safety Monitoring
Frozen pipes can crack, causing flooding and, in extreme cases, short-outs in electric appliances. Faulty wiring can cause electrical fires, while malfunctioning ventilation systems can result in carbon monoxide poisoning. Home automation and smart home technology can detect issues such as these before they develop into major problems. Savvy insurance companies recognize this fact, and offer discounts to homeowners with home automation systems installed.
Homeowners may even score significant discounts from their insurance providers without installing a full-blown security system!
Insurance companies also reward homeowners who install outdoor lighting or affordable smart locks with lower monthly premiums.
Don’t miss out on the potential savings available by adopting home automation!
Give us a call and we’ll explain how to implement smart home technology to improve your home’s comfort while taking advantages of discounts offered by your home insurance provider.