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Home Insurance

The Impact of Smart Home Technology on Home Insurance Rates

In our increasingly technological world, smart home technology has revolutionized how many people interact with their homes in unexpected ways. Any home with a few connected smart devices can be considered a smart home. From security cameras to kitchen appliances, smart technology can improve just about anyone’s quality of life. In some cases, it can even have a positive impact on home insurance rates. Read on to learn more about the impact smart tech can have on homeowners insurance. 

Understanding Smart Home Technology

Smart home technology can be seen anywhere from the front door to the inside of the house to the backyard. It’s ubiquitous in today’s world. What makes smart devices smart is how they incorporate technology and integrate with other devices. Nearly all smart devices can be controlled from a mobile device and/or using voice commands. 

The Relationship Between Smart Home Technology and Home Insurance

Home insurance rates vary based on a variety of factors. Any home security system can help drive down your premium, but a smart home security system often has more robust features to keep your home protected. Smart security systems can keep your home safer and allow for constant monitoring. However, it’s not just smart security systems that can keep your home safer. Smart locks, lighting systems and more can be used strategically to keep your home safer, therefore making you less likely to put in a home insurance claim. 

Reduction in Insurance Premiums with Smart Home Technology

Insurance companies offer discounts not only on premiums but also on smart home technology and professional monitoring services. This is because having a homeowner with a smart home benefits them in the long run. The rates of break-ins, fires and water damage all decrease when homeowners monitor their homes using smart technology. 

Future of Smart Home Technology and Home Insurance

Smart home technology keeps getting smarter. Some smart home tech utilizes artificial intelligence to improve the user experience, and that is expected to increase over time. We are also likely to see more collaboration between insurance companies, smart home device manufacturers, and tech giants.

For many homeowners, making your home smarter and safer while decreasing your home insurance premiums is an obvious win-win. However, it all depends on your comfort level with evolving technology. Nsure can help you find a home insurance policy that’s just as smart as your home. Review homeowners insurance options from over 50 top-rated insurance carriers today on, and be sure with Nsure!

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