Everything from a smoke detector to a burglar alarm can give you a discount of 5 percent each on your renter's or homeowner's insurance premium. And if you install a hi-tech home security system, you could be looking at up to a 20 percent discount.
Even if you haven't recently installed or updated your security system or fire alarm, it's a smart move to call your insurance company and make sure that they already know about your current safety features. If your apartment complex has any property-wide safety features or procedures (including a 24-hour guard), make sure to mention that too.
Here's a list of 10 devices & systems that can earn you a discount, but make sure to ask your insurance company about other possible discounts. You have nothing to lose but money.
- Security system
- Smoke detectors
- Carbon monoxide detectors
- Heat detectors
- Fire extinguishers
- Sprinkler system
- Heating system which is updated and regularly inspected by a professional.
- An up-to-date wiring system which is adequate for your multiple appliances and prevents overloading of sockets.
- Well-grounded outside antenna(e)
- Deadbolt locks