10 Safety Devices that Can Discount Your Insurance

10 Safety Devices that Can Discount Your Insurance

Taryn Williford
Nov 19, 2010

It's time to get honest here: Renter's insurance is our least favorite bill to pay each month. It's probably our smallest fixed expense, but without something tangible to show for it, it sure can feel like a wallet suck. We will, of course, be very glad we've been feeding this "wallet suck" if a fire or break-in ever occurs. But until then, we're looking out for ways to reduce our bill—like informing the insurance company of our upgraded safety devices.

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.

(Images: Flickr user brutalSF under license from Creative Commons, SimpliSafe Home Security System in the Unplggd Test Lab)

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