Home insurance discount with monitored alarm systems such as Ring
I am using the Ring ecosystem and have a Ring Protect Plus subscription for $150 / yr. (Apparently there is a way to get it for $100 USD by using the US website, which I just found out about, but I haven't tried to do that yet.)
I was surprised to find out that my home insurance premium went from $1481 to $1229 for a savings of $252 - so subscribing actually saved me more than the subscription cost!
Obviously YMMV so here are some details that might be relevant:
- I have both burglary (Ring Alarm) and fire protection (First Alert Smoke / CO detector, integrates with Ring)
- With this setup, Ring provides a certificate which reads "The home at this address has 24/7 professional monitoring with battery and cellular backup. The central monitoring station provides 24/7 monitoring for Burglary, Panic, Fire/Smoke, CO." I had to provide this certificate to my insurance company to get the discount.
- When I inquired about this, my broker explained that I would get 8% discount for just burglary, 5% for just fire and 13% for both. Someone observant may notice that my actual discount 17%... I also noticed but I don't plan to question it ... lol
- Single 1400 sq ft house in Edmonton, Alberta
- My insurance is with Travelers, underwritten by Dominion of Canada
- I think the coverage is fairly standard - dwelling about 400K, personal property about 400K. 1M liability. Sewer / water coverage.
- I have some other discounts like dual policy (car), 45+ age discount, 5+ years loyalty discount
I have noticed in several threads about Ring doorbells / cameras that a common complaint / downside of these devices is that there is no local recording capability (eg SD card) so if you want to watch the videos other than live, you have to get the subscription. However, the subscription covers unlimited devices' videos and also alarm monitoring. So it definitely becomes more worth it the more invested (sucked in?) you are into the ecosystem.
Hopefully the information about insurance discounts will help someone! Happy to provide any other details if needed.