“Hey Alexa, can you turn on the lights and lock the doors?”

“Hey Google, close the window blinds.”

“Hey Siri, change the channel.”

From voice-activated hubs to doorbells and locks you control with an app on your phone, the idea of a smart home has become reality. More homes are converting to smart technology lightbulbs, blinds, plugs, and everything you can think of. This evolution has brought about a lot of convenience to our lives, but it also brings a ton of questions…

One of the biggest questions we hear from our clients is “Does having smart home products impact my insurance rates?”

The answer is… it can!

Some insurance carriers are offering discounts for homeowners who have smart technology in their homes while others offer cost savings on the purchase or installation of smart technology in your home. From the perspective of the insurance carrier, this technology makes your home safer.

Smart technology devices that most insurance carriers look for typically include:

  • Water sensors
  • Smart smoke alarms
  • Humidity indicators
  • Doorbells, locks, and cameras
  • Freeze detection indicators
  • Appliance/electrical monitors

These devices can alert homeowners to problems sooner which helps keep the home safer. This, in turn, can lead to lower premium costs and fewer claims.

In addition to helping spot risks sooner, smart home technology can also be used to help settle claims faster when they do occur. Depending on the technology and its features, insurers can assess damage or re-evaluate situations quicker and more seamlessly, leading to claims being closed quicker.

The bottom line is that with the convenience of smart home technology comes increased protection for your home as well. This increased protection could lead to decreased premiums when it comes to your homeowners’ insurance.

If you using smart home technology and are unsure if it’s being reflected in your policy or are considering implementing some, then call us today at 877-GANNONS. A simple conversation with your service agent could save you money.