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.
DISCOUNTS FOR SMART-HOME DEVICES
NerdWallet reached out to a dozen insurance companies and found that most of them offer discounts to homeowners with smart-home devices designed to prevent water damage, fire or theft. In our research, we found companies advertising homeowners insurance discounts up to 13%, depending on the device and where you live.
Among the companies we surveyed, the smart devices most commonly eligible for discounts were water leak sensors, security cameras and smoke detectors. However, insurers like Farmers and Lemonade also offer savings for smart locks, while Amica and Farmers give discounts for motion sensors.
