McKinney Financial & Insurance Announces How Smart Home Devices Impact Home Insurance in Wisconsin

As more smart devices become available and affordable for the home, homeowners may want to consider purchasing some of these items to save money

OCONOMOWOC, WI, UNITED STATES, September 6, 2018 / -- As more smart devices become available and affordable for the home, homeowners may want to consider purchasing some of these items to save money on their home insurance. There is a wide range of such devices that go beyond the traditional alarm system, doorbells and cameras. They may be connected or independent, but they provide protection to the family or the home in some way. McKinney Financial & Insurance Services wants to help homeowners know which devices will have a positive impact on their Watertown home insurance policy.

Many of the modern devices are connected to the internet which allows the home to be more closely monitored even when the homeowner is not at home. Others are connected to an alarm company or the local fire department or a dispatch which allows emergency personnel to respond faster to fires, burglaries and other situations. Cameras and alarm systems often deter criminals and prevent burglaries, which reduces the number of claims that must be filed. When firefighters respond to a fire more quickly, they can put out the fire before it causes as much damage. This means that claims which are filed will have fewer costs.

Robert McKinney warns that not all devices work the same. “Don’t assume that any device you buy will lower your premiums,” he says. “Some insurance companies have partnered with manufacturing companies for these devices to offer special discounts. They have often been researched to find out what kind of impact they have on burglaries, fires and other situations. Discounts can vary by device and insurance provider, but they are often between five and 20 percent. McKinney explains how this savings works. “If you purchase a product and show the receipt or other proof, you may qualify for the discount right away or at your next renewal.” A policy with premiums of $1000 could result in savings of $200. This kind of discount would have a big impact on many homeowners.

McKinney recommends that homeowners talk to their insurance agent before they purchase a device. They can find out if it qualifies for a discount or which devices the agency recommends. The devices do not need to be the most expensive items on the market. As long as they have a good reputation and history of success in their use, many gadgets will meet the requirements. This savings is not just for those who own their home even though they will usually benefit the most. Renters can also save money on Oconomowoc home insurance for renters by installing an alarm system or other device. However, they may need to get permission from their landlord before they are able to install any devices within the home.

As homeowners look at the costs of purchasing some of these smart home systems and devices, they should include the savings on home insurance in their budget. It helps make safety and security more affordable for everyone who owns or rents their home.

Robert McKinney
McKinney Financial & Insurance Services
(262) 236-5700
email us here

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