Home insurance companies will reduce premiums if you have these smart devices

Some home insurance companies are lowering premiums for those with smart home devices. Here’s how to tell if you may be able to save. (iStock)

These days, many homeowners are using smart home devices to help keep their largest asset safe. As a result, many home insurance companies are offering discounts on their premiums for customers who use these items. However, since this technology is still fairly new, not all companies currently offer this perk.

To that end, it's important to shop around for the right home insurance company. If you've invested in smart home technology, it’s likely worth going with a company that offers one of these discounts. After all, even a small percentage discount will mean money back in your pocket at the end of each month. Luckily, you can explore pricing and find the right home insurance plan to fit your needs using Credible.

Still, before you get too far into specifics, it's important to understand a little bit more about how these discounts work. We've listed four smart home technologies that can get you a discounted rate below.

Wireless security systems

To start, wireless security systems, including those with video doorbells, can help lower the cost of your property insurance or dwelling coverage. Put simply, these security systems protect your home against the threat of home invasion by offering the ability to remotely lock and unlock your home, sending instant safety alerts, and continuously monitoring all home activity.

In particular, insurance companies really like to see these systems combined with monitoring services, which will call the police or fire company in the event of a problem. That said, just know that these services often come at a cost, which can cancel out any discount that you've received on your premium.

Credible can walk you through each homeowner's insurance policy and coverage. Plus, they can tell you how to save hundreds on homeowners insurance each year.



While it may seem strange for a thermostat to be able to lower your insurance premiums, in this case, it's all about fire safety. The right thermostat may be able to sound an alarm if it feels the temperature getting too hot or it may be able to shut off your heating system's fans in order to stop the temperature from increasing any further.

As an added bonus, a smart thermostat can help you save on your energy costs. Often, you'll have the ability to remotely turn your heating or air conditioning system on and off, which means that you can reduce the chances of it running when you're not home.


Smart smoke detectors

Meanwhile. smart smoke detectors are obviously meant to lower the risk of fire. While every smoke detector is different, most smart models will send you automated alerts for maintenance, remotely shut off in the case of a false alarm, and notify your local fire company if there is a problem.

However, it's important to note that there are other things you can do to lower your premiums. For example, just keeping fire extinguishers around lowers the risk of sustaining significant property damage in the event of a fire so they are often linked with a discount on many insurance policies.

Visit Credible to start the process and maximize the value you gain from your homeowner’s policy.

Water and gas shutoff sensors

Lastly, water and gas shut off sensors lower the risk of leaks and flooding. Tools like gas leak detectors learn your behavior patterns in order to better detect leaks. They will also automatically shut off your system in the event of a leak, and send you notifications about the shut-off in case you aren't home.

Similar to the fire extinguishers, there's a good chance that the company that offers your home coverage may offer you a discount if you have the proper carbon monoxide detectors installed. These detectors can work hand-in-hand with water and gas shut off sensors to better keep you and your family safe.

The bottom line

If you're ready to start shopping around for the right insurance agency, the first step is to get a sense of your coverage options. Just like when you got your mortgage, you'll likely want to get at least three home insurance quotes from different insurers. When you're ready, Credible can help you compare home insurance companies and get a quote online in a matter of minutes.

As for what to compare when you get your quotes, you're going to want to look at the insurance deductibles. The deductibles signify the amount that you'll be responsible for covering in the event of an emergency. You’ll also want to see if you can save money by bundling your home insurance coverage. Some insurance companies will offer a discount for adding additional policies like earthquake or flood insurance.