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How Smart-home Devices Save Your Money on Home Insurance Premium?

Smart-home devices aren’t just about convenience and comfort, but in combination with your home insurance cover, they also save your money on home insurance premiums. Read the below article to find out how smart-home technology helps you in saving home insurance premiums.

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Smart-home Devices That Can Lower Your Home Insurance Premiums

Homeowners can lower their premiums by installing smart technologies in their homes. If you are also looking for ways to save money, you should take advantage of these smart devices. Find the best devices in the list given below-

Security or CCTV Cameras

The significance of CCTV cameras for homes cannot be overlooked. There are various affordable security cameras available on the market to enhance the security of a home. Its presence acts as a restraint to criminals and thieves by recording footage and tracking their movements around the house.

It tracks the suspicious activity, and video footage works as evidence against the criminals. This device will let you know what is happening around your house. If you are simply looking to save money on your home insurance premium, consider installing security cameras in your front door, garage, back door, or even in the living room inside your home.

  1. Video Doorbells

    The purpose of installing a video doorbell is to identify who is at the door. This smart device not only lets you allow to see who is on the other side, but it also provides to communicate with them. In case you miss a video call from the visitor, it also clicks a picture of that person with the time & date of the arrival. No matter whether it is day or night the video quality will never outperform your expectations. It is one of the powerful tools to check in on your courier package deliveries. You can install this at the front door of your house and save on your home insurance premium.

  2. Smart Thermostats

    A smart thermostat is a Wi-Fi-enabled gadget that automatically changes the heating and cooling temperature at your home according to the need. It can be controlled with your phone, tablet, or smart speaker. While you are sleeping or away from your home for days, this offers comfort and convenience at once.

  3. Fire or Smoke Detectors

    Home fire or smoke detectors have sensors to detect the smoke and notify you via a mobile app. This means you will be alert if there is a fire sooner or even when you are not home and helps you in minimising the loss. A fire or smoke detector's sole purpose is to give you the warning to save your valuables before they hit your home by fire flames. It is suggested to install it on the ceiling or wall outside each bedroom. Moreover, this device will save on the premiums, so install a fire/smoke detector system in your home's mains power and bedroom.

  4. Water Leakage Detector

    To prevent severe damage from being done by faulty or leaking pipes, it is essential to install a high-quality water leakage system before the disaster hits you. This detector system will alert you for a minor leak because a sudden flow can dampen and destroy your furniture and other belongings. Installing a water leakage sensor will lower a home insurance premium and prevent damages caused by a water flow.

  5. Other Home Security Systems

    Damages caused because of burglary or theft are covered under your home insurance cover, and there are certainly many ways to lower your insurance premium. A secured home includes door sensors, window sensors, and a smart door lock. All these features help to reduce the chances of burglary or theft, and ultimately reduce the insurance premiums.

Why Do Home Insurance Companies Rewards Home-safety Devices?

Home insurance companies offer rewards for installing home-safety devices because they lower the risk and potentially prevent policyholders from raising expensive claims. Without the right alarm, you might end up filing a claim under your home insurance cover even for small damages.

Why Should You Install Home Security Enhancement Devices?

It is always a great idea to invest in high-quality home security enhancement devices. For example, if your home has the knob and tube wiring, it means there more chances of short circuit fires and electrical damage. Therefore, it is essential to put a fire detector in your house to prevent yourself from raising small claims and lowering your insurance premium.

In a Nutshell

Investing in smart-home devices offers you peace of mind and also helps in saving huge on home insurance premiums. Moreover, ask your home insurer whether the devices you are planning to install qualify for lowering your home insurance premiums.You can also refer to the above-mentioned devices to secure your home and make it risk-proof.

Written By: PolicyBazaar - Updated: 25 May 2022
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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4.4 / 5 (Based on 120 Reviews)
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Bokaro, July 26, 2022
Coverage for natural calamity
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Ajmer, July 26, 2022
Qiuck claim
I purchased a home insurance policy recently. However, due to a natural calamity, my house was damaged as the pressure of the water because of flood broke the enterance door of my house. But the insurance plan that i bought got me covered and i as able to get the quickest claim possible.
Delhi, July 26, 2022
Natural calamities covered
I bought a home insurance policy recently. As i live near a river and in the rainy season, my area gets flooded so in order to protect my house and its contents, i purchased the insurance to get coverage for such natual calamities and i am tension free now.
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Wide coverage
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Amritsar, June 09, 2022
Natural calamities covered
I bought a home insurance policy recently. As i live near a river and in the rainy season, my area gets flooded so in order to protect my house and its contents, i purchased the insurance to get coverage for such natual calamities and i am tension-free now.
  • Disclaimers+

    #Savings of 28% are based on the comparison between the highest and lowest premiums for a pucca building with sum insured of >₹ 1 crore at Delhi, for property age less than 5 years and policy term of 11 years.