Adding smart home technology is a great way to update your home this spring, especially if you are selling it.
Smart home technology will also make your home more current, comfortable, and secure.
Smart home technology can help you save
Installing smart home devices means problems are noticed early, and expensive insurance claims can be avoided.
For example, if your hot water tank leaks and you have a smart water sensor, you can immediately take action and avoid filing a claim. But if you are gone all day and do not notice the situation until you come home, that could mean an expensive claim, a deductible, and cleanup.
Here is the smart home technology that is the most likely to keep you and your property safe and help avoid claims.
Water sensors are an excellent smart home technology investment for most homeowners. Water damage is the most common home insurance claim to be prevented by smart home devices. Large claims can be turned into small ones or none at all by adding water sensors under appliances and in bathrooms.
Security and alarm systems
Another way that smart home technology can potentially save money on home insurance is by increasing its security and preventing emergencies like fires. Having alarm and security systems reduces the risk of break-ins and damage, making your home less risky to insure. Insurers may offer discounts for burglar, fire, flood, and extreme temperature alarms, motion sensors, and smart locks. There are several types of alarm systems and security systems to choose from.
Locally monitored alarm systems
This type of alarm system alerts the homeowner of emergencies like flooding, fire, carbon monoxide, extreme temperature, and burglary. You will know something is wrong even if you are not home because your smart security system will send alerts to your phone.
Centrally monitored alarm systems
Centrally monitored alarm systems alert an outside contractor, who will then alert the police or fire department for you. This means you can focus on your safety and be sure help will be called immediately. Your security company will alert authorities even if you have not checked your phone and are not aware an alarm has gone off.
Home security systems
Alarm systems that include cameras alert you to threats and help identify perpetrators. They can stop porch pirates, and some can alert authorities if you have a medical emergency.
Professionally installed security systems could get you a discount on home insurance, so ask your insurer or broker for advice.
Is smart home technology worth it?
The security and convenience of smart home technology make it a worthwhile investment for many homeowners. If you are considering investing in smart home technology, shop around to see which insurers offer discounts on which types of devices and how much money you can save.
You may also be looking for smart home technology for peace of mind and it may be a good investment for you even if saving money on your home insurance rates does not cover the cost completely.
Western Coast Insurance Services Ltd. is a wholly-owned division of Western Financial Group Ltd. Insurance products are underwritten by certain licensed insurance companies and are only
available throughout British Columbia, Canada.