How Smart Door Locks Could Potentially Lower Home Insurance Costs

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January 24, 2024
Smonet

The realm of security technology has been exploring new terrain with the recent introduction of smart locks. Over the past few years, these devices have permeated the market and are progressively transforming the security industry, providing greater comfort and higher security than the traditional mechanical locks.

As devices that aim to simplify and enrich life, smart locks, or any smart devices, can be paired with your smartphone, offering control from any location at the touch of a button. Today, an increasing number of individuals are recognizing their worth, with some even obtaining a decrease in home insurance premiums due to their use. Intrigued? Allow us to guide you through the world of smart locks.

Understanding Smart Locks

Although smart locks are not completely new, the concept may still be unfamiliar to some. Thus, it’s essential to clarify what a smart lock is and how it functions. Basically, these locks are wholly electronic, sans any conventional locking mechanism. They connect to a designated app on your smartphone which enables control from any part of the world at any time. Compared to regular mechanical locks, the advantages are substantial.
Smart lock without deadbolt are robust and typically outlive their mechanical counterparts.
The devices offer keyless entry, eliminating the need for carrying or potentially losing keys.
They have remote operation capability, allowing you to lock them from a distance if forgotten.
An alert system in smart locks informs you of any questionable activities.
Considering the installation of such a device? Professional security services would be a wise choice.

Can Smart Locks Reduce Home Insurance Costs?

Having discussed the primary security benefits of smart locks, you may wonder about their impact on home insurance costs. The answer isn’t straightforward – while no absolute assurance can be provided that installing a smart lock would alter your home insurance, the potential does exist. Certain factors such as your location, local regulations, and your chosen insurance provider play a role. While digital security devices can elicit apprehension due to perceived vulnerability to hacking, discounts may still apply.
Some key smart lock devices may be bought at a reduced price.
Discounts may apply to premium home insurance plans.

Can Smart Locks Reduce Home Insurance Costs?

Can Other Smart Devices Decrease Home Insurance Costs?

Home insurance plays a pivotal role in maintaining peace of mind, securing your home against unfortunate incidents. Besides smart locks, a variety of other smart devices that can be integrated with your home security system can also prove conducive.
In certain scenarios, utilizing these smart home devices can result in lower home insurance costs. For instance, water sensors that detect leakage and smart smoke detectors and thermostats that alert you to fires can be beneficial.
Conclusion
The popularity and convenience of smart locks make them a viable alternative to traditional mechanical keyless lock. It’s likely that they will soon be the preferred lock type for both residential and commercial usage. While there are no guarantees in terms of home insurance savings, there are opportunities to secure discounts. If you’re considering installing it, Sure Lock & Key can assist you with the entire process.