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Security & Fire Safety Equipment Could Mean Discounts from Your Insurance Company!

Since I began writing articles and researching how to keep your homes safe, and secure, several people have asked me if insurance companies give discounts on homeowners insurance policies for having home security systems/devices or fire safety equipment or systems. To address these inquiries, we did some research and called five large insurance companies (State Farm, Travelers, Progressive, Allstate, and Nationwide) and asked questions about discounts that might be available for homeowner policies.

Let’s start by saying, it is clear that homeowner’s insurance discounts, of this kind, will vary by state, zip code, and by the policy you purchase. Each representative asked me for my zip code, to pull up the policy offerings in my area. I spoke to both local insurance agent representatives and corporate employees in call centers, depending on the company.

YES, discounts are available! All of the companies I called did offer some discounts for certain safety and security devices with some variation, but some definite patterns appeared across all the companies.

Security Systems and devices

At this point, most companies assume that every home has basic deadbolts and often don’t ask those questions so that won’t normally be tied to any discounts for having particular locks.

Security systems with monitoring: All the companies, did offer discounts if you have a professionally-monitored security system. One company, State Farm, said they offer a lesser discount if you can show that you have a security system that is self-monitored. To get better discounts for both professionally monitored and Self Monitored systems, you will need to provide information on what systems you have. The discount will be commensurate with the level of protection the provider deems it offers.

Some Smart Home Devices: Some providers will offer discounts for certain smart home integration. For example, many smart homes integrate devices to shut off water mains or include water detection devices both monitored and unmonitored. Systems like these have caught the attention of insurance providers and discounts are becoming available in many companies.

Fire safety systems or equipment

At this point, most companies assume every home probably has a fire extinguisher and basic smoke detectors. Some companies ask these questions and very small discounts may or may not apply and other companies don’t ask and do not give discounts. In their view that pricing is already built-in.

Fire alarm with central monitoring: Most companies did offer some pretty substantial discounts for fire alarms that are part of a professionally monitored system, but not necessarily over and above a discount already given for a monitored security system that also integrates the smoke detectors. Oh, and yes you will have to prove that you have those systems monitored.

Sprinkler Systems:

All of the companies said they offered discounts for homes that have sprinkler systems. These discounts are going to vary between condos, townhomes, and single-family homes.

Yes, there are some ways to benefit from your security, fire safety, and smart home upgrades. But don’t expect it to be a simple phone call. They will want documented details of your systems and possibly certifications that are issued, if that is the standard for those devices.

If you want to get started with a security and fire safety system, this article may help.

Plan for Safety,

Andy, Senior Editor


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