Can a Security and Safety Device Lower Home Insurance Premiums? - firstenergyhome | Blog
76 views | May 12, 2020

Can a Security and Safety Device Lower Home Insurance Premiums?

Learn how safety and security products can help lower your home insurance premium.


The short answer is…yes! On average, by installing devices that monitor your home’s safety and security you might save about 20 percent on homeowners insurance. 1 That’s pretty significant over time.

It’s no wonder that such cost advantages are available. Insurance companies know the statistics supporting the offering of discounts for homeowners who use today’s technology for protecting their homes from intruders and other risks. For instance, homes without home security systems are three times likelier to experience a break-in opposed to homes with security monitoring devices. 2

Today’s smart home technologies can include indoor and outdoor cameras, smoke detectors, carbon monoxide detectors, alarms and alerts and other features and devices. Best of all, you can monitor your home and control these smart devices 24/7 from wherever you are, from a simple app on your smartphone.

Insurer Discounts

The features and benefits of many smart home devices make such motivational discounts a no-brainer for homeowner insurance companies. Here are the particular discounts on premiums or devices offered by several leading insurers as examples of how you might benefit financially.

  • American Family Insurance – offers up to a 5 percent premium discount for homeowners utilizing various smart home technologies, specifically for leak detection, increased energy efficiency and home security. 3
  • Farmers Insurance – in partnership with ADT Security Services, extends discount opportunities to customers in various states on smart monitoring systems. 4
  • Liberty Mutual Insurance is acting in partnership with several smart home technology companies to help protect customer homes in various ways. The installation of water leak detectors, security cameras and other devices reflect the reality that these smart safety and security technologies can decrease claims. That’s why you can potentially save on premiums. 5
  • Nationwide – offers homeowner discounts for certain smart home protective devices, including sensors, security systems and smoke detectors. 6
  • Progressive Insurance – is partnering with SimpliSafe, a home security company, to offer the installation of devices that might earn homeowners a lower premium rate. 7
  • Travelers Insurance – extends discounts on a range of smart home device kits. 8

Learn More

Does your current homeowner insurance company offer discounts for smart home investments in the safety and security of your home that you might have already made or are considering? Check their websites or ask your agent.

You might be pleasantly surprised at how much of a return on investment you might be able to make with technologies you could be considering anyway.

© 2020 FirstEnergy Home

1-866-987-4305