Am I entitled to a discount on my homeowners policy if I recently installed more smoke alarms in my home?

Some costs of home ownership are beyond our control, but others can at least be adjusted or reduced with a little bit of effort from the homeowner. Home insurance is one of those costs that can be reduced with certain home improvements or safety additions, such as smoke alarms.

The theory of insurance premiums in general is pretty simple–people pay based on their risk of needing to file a claim. In the case of homeowners insurance, premiums tend to go up if you are more likely to experience a fire, weather event or burglary, and they go down as those events become less likely. It stands to reason, therefore, that taking an action to reduce risk, such as adding a smoke alarm or two, should bring your premiums down.

Fire alarms, sprinkler systems and burglar alarms are all safety systems that many insurers will consider giving premium discounts for. If you already have these systems, sometimes upgrading them or adding a few features or a smoke alarm can still get you an increased discount. Larger projects that might result in a discount because of the reduction in risk they provide include replacing aging pipes or electrical wiring in your home.

Every home insurance policy and insurer is different, so if you are making changes to your home just to save on your insurance premium, you should definitely check with your agent first. If you have general questions about insurance, you should call us today. As an independent agent, we have a wealth of insurance knowledge and we can not only answer your questions, but we can also get you quotes on homeowners insurance to make sure that you’re getting the best possible rate.