Smart-home devices can monitor leaks, control thermostats and keep property secure. But they may also qualify you for a discount on homeowners insurance.
A smart thermostat can turn up the heat in your home before you roll out of bed. A smart speaker can play your favorite podcasts with a voice command. A smart lightbulb can be turned on or off from across the room.
But smart-home devices aren’t just about convenience. Because some of them can help keep your home safe and secure, they could also earn you a discount on your homeowners insurance. Hippo, a homeowners insurance startup, gives policyholders in eligible states free smart home-monitoring kits from partners such as Kangaroo and SimpliSafe. As long as the policyholder installs the devices and keeps them active, they can save up to 13% on their homeowners insurance.
Why insurance companies reward smart-home devices Insurance companies offer discounts for smart-home devices because the technology can help catch problems early, potentially preventing expensive claims. Should you buy smart-home devices? The cost of smart-home technology can add up quickly. If you want to invest in a protective device but aren’t sure which ones are worth the money, consider your home’s unique risks, says Karen Collins, assistant vice president of personal lines at the American Property Casualty Insurance Association.
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