Did you know that there are a number of smart home devices on the market today that can help reduce your homeowner’s insurance costs? Devices like fire and smoke detectors, water sensors, and security systems all work to prevent accidents and claims from happening in the first place. In this article, we will discuss how these devices can help to save you money on your homeowner’s insurance policy.
Fire damages
One of the most common causes of homeowners insurance claims is fire. According to the National Fire Protection Association, U.S. fire departments responded to an estimated average of 358,500 home structure fires per year from 2013 to 2017. These fires caused an annual average of $11.
While having a smoke detector in your home will not guarantee that a fire will never happen, it will help to alert you to the danger so that you can take steps to prevent it or get out of the house safely. Investing in a few smoke detectors for your home is a small price to pay for the peace of mind and protection they can provide.
Water damages
Another common cause of homeowners insurance claims is water damage. Statistics show that water damage and freezing account for almost one in every four homeowners insurance claims.
Whether it is a burst pipe, flooding, or severe weather, water damage can be costly to repair. Water sensors can help to detect leaks before they cause extensive damage and give you the opportunity to fix the problem before it becomes too expensive.
Flooding is also an external risk factor in some regions around the world. There are some additional requirements in places like Arizona so it would be good to check into manufactured home insurance requirements in Arizona to make sure you’re compliant with those.
Security
Security systems are another great way to prevent claims from happening in the first place. burglaries happen every day, and the average loss from a burglary is $2000. Having a security system in your home can help to deter burglars and give you peace of mind knowing that your home and belongings are safe.
Internet-connected security cameras in a smart home network can also help you keep an eye on your property even when you are not there. If you see something suspicious, you can call the police or your security company to investigate. Some systems might also include motion detection which can trigger an alarm or send you a notification if someone is on your property.
Other ways to save money?
If you leverage smart home technology you can not only improve the quality of living, you could potentially also save money on the electricity or heating bill, not only insurance costs.
For example, you can program the thermostat to lower the temperature when no one is home and raise it again shortly before someone is due back. This not only saves energy but also money on the utility bill.
An intelligent light controller can do a similar thing for the lights. Most people do not need the lights on in every room all day and night. But with a smart home, you can set up schedules or even have the lights turn on and off based on whether someone is home or not.
By making your home smarter, you can save money in a number of ways. Not only could you see a reduction in your insurance costs, but you might also save money on your utility bills. It is definitely worth looking into if you are interested in saving money and improving your quality of life.
Conclusion
Investing in just a few of these smart home devices can help to reduce the chances of having to file a claim on your homeowner’s insurance. And, in the event that you do have to file a claim, these devices can help to prove that you took steps to prevent the accident or damage from happening, which could help to reduce the cost of your claim. So, if you are looking for ways to save money on your homeowner’s insurance policy, be sure to ask your agent about how these devices can help.
Photo credit: The feature image has been done by Ross and Helen.
