Smart ways to save
Have you heard of the innovative ways you can save on your home policy?
Smart homes that spoke to you or adjusted temperatures and lights automatically always sounded like an idea of the future to me. But here we are in 2023, where we are hearing of many "smart" ways to protect your home and in turn, save on your homeowners policy. Here are a few of the main players:
A smart alarm system: home alarm systems like Ring, SimpliSafe, and Blue by ADT are taking over the market. They're easy to install (many are DIY) and they link directly to your cell phone. Many even go a step further and alert your local police department if needed.
Smart detectors: these little devices do a lot of work in making sure that your home is well-protected against common household leaks. The Smart Leak Detector, by Moen, is a great option for keeping small leaks from turning into huge problems. Just place it by your dishwasher, washing machine, or under your sink, download the app to link the device, and let it do the rest of the work. The device will alert you if any leak in that area is detected.
Solar panels: while this is the largest up-front cost, the long-term benefits of solar are great for your wallet and the environment. Solar panels can produce 95% of the average monthly energy used, and you can see around $1,500 in savings per year by adding solar power. To help offset the initial cost, the Inflation Reduction Act was introduced this year to provide a 30% tax credit for rooftop solar systems through 2032. Lastly, with solar panels installed, Zillow estimates that home values increase by 4.1%.
Smart home systems are continuing to evolve, and many are beneficial to keep your home safe, while helping save on your water and energy expenses, as well as your homeowners premiums.