Home Features and Technologies That Can Help You Save on Homeowners Insurance

Homeowners insurance is one of the most important forms of protection that you can carry as a consumer. Covering the structure of your home - and more importantly, the contents inside of it, homeowners insurance is an essential component of any risk management strategy. You certainly don’t want to be left footing the bill after a massive fire, or out in the cold should a pipe burst in the winter months.

Did you know that there are ways you can find substantial savings on homeowners insurance by making functional improvements to your home? While some are obvious and well-known - alarm systems come to mind as being the most well-known technology that leads to discounts - others are more subtle and passive! Does your home have any hidden features that could help you save on homeowners insurance? Read on to find out!

Central Fire and Burglar Systems

There’s a big difference between a ‘local’ fire alarm system and a ‘central’ fire system. A local system sounds an alarm within your home, letting you know that a fire has been detected. It’s then up to you to dial 911 for the fire department. In contrast, a central fire system sends a signal directly to a central station that is monitoring your home and others. In some cases, this station is the fire department itself, but it is always someone with direct access to the fire department. This type of system can shave valuable minutes off the response time by firefighters, saving lives and property. For this reason, having this type of system frequently results in discounts on your homeowners insurance policy. Central burglar alarms (security systems) work the same way. New smart-home systems offer many of these benefits at a low price, so they are well-worth exploring adding to your home.

Low Temperature Monitoring System

Low Temperature Monitoring Systems are one of the simplest and easiest ways to keep your home safer, and that unearth potential discounts on your homeowners policy. All low temperature systems function in the same way - they measure the temperature in and around them, and when it drops below a certain point, it alerts the homeowner that they have entered the danger zone. Low temperature sensors are one of the cheapest tools on this list, with simple models retailing below $100. Newer models can wirelessly integrate with existing alarm or smart-home systems (some even have them built in). Smart sensors like the Nest temperature sensor can be controlled remotely from your phone, and, because they’re wireless, can be placed anywhere.

Explosive Gas Detector

An Explosive Gas Detector may sound like an expensive tool straight out of science fiction, but in reality, it’s one of the cheapest ways to get a potential discount on your homeowners insurance, and an incredibly important addition to home safety. These systems function in

exactly the same manner as carbon monoxide detectors, but are calibrated to detect leaks of dangerous gasses such as natural gas, methane, propane and others. Many new CO detectors incorporate an explosive gas detector as well, making this the lowest-hanging fruit for finding a homeowners discount. Combo alarms can be had from Home Depot, Lowe’s, Amazon and others for around $40 per unit. Money well-spent, if you ask us!

Lightning Protection Systems

They say lightning never strikes the same place twice, but all you need is for it to strike once. With the increasing number of expensive electronic systems in the typical home, lightning strikes can be much more expensive and disruptive these days. While not required by building codes, they can be a valuable addition to your home’s protection. Lightning protection systems are composed of five integrated elements - strike termination devices (lightning rods), cables that rout electrical current over the constriction, grounding electrodes, bonding and surge protection devices all work in concert to keep your home safe. Because of the complexity of installing these systems, the inspection requirements to certify them, and the price, the are not commonly seen in most homes. If you do happen to have on installed, make sure to tell your insurance carrier!

 

Want help finding these discounts and devising a risk management strategy for your home? Schedule a sit-down with one of our representatives to review your risk management and insurance needs!