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Home insurance discount with monitored alarm systems such as Ring

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  • Aug 24th, 2021 8:07 am
[OP]
Newbie
Apr 9, 2007
46 posts
28 upvotes

Home insurance discount with monitored alarm systems such as Ring

I just wanted to share my experience with home insurance discount in case it helps anyone else out. Maybe others can post theirs as well to get more data points.

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.
10 replies
Member
Jul 25, 2013
288 posts
305 upvotes
Toronto
I am with TD insurance and they recognize self monitoring (without subscription) ring alarm/fire with alerts to phone for the monitoring insurance discount . Insurance is expensive out wets, have a 2500sqft in GTA and mine is $700

rockyfan206 wrote: I just wanted to share my experience with home insurance discount in case it helps anyone else out. Maybe others can post theirs as well to get more data points.

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.
Deal Addict
Sep 22, 2009
3234 posts
2079 upvotes
Markham
I have self monitoring too (without subscription). My insurance recognizes it and provided a discount.
YMMV...pending on location, crime rate, coverage, etc...
Member
Nov 18, 2008
449 posts
181 upvotes
Toronto
rockyfan206 wrote: I just wanted to share my experience with home insurance discount in case it helps anyone else out. Maybe others can post theirs as well to get more data points.

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.
Just installed the base station and one motion sensor myself. I found the certificate, but it says only burglar, panic. I guess to get fire/co I need to add one of those sensors to the ring system?
Last edited by jkhan on Aug 23rd, 2021 11:07 am, edited 1 time in total.
Deal Fanatic
Dec 20, 2018
7178 posts
6349 upvotes
jkhan wrote: Just installed the base station and one motion sensor myself. How do you get the certificate from Ring? I don't see it on my account when I log in?
you need to have paid monitoring to get the certificate from Ring
Member
Nov 18, 2008
449 posts
181 upvotes
Toronto
StatsGuy wrote: you need to have paid monitoring to get the certificate from Ring
I do and I found it eventually :)
Deal Fanatic
Dec 20, 2018
7178 posts
6349 upvotes
Poutinesauce wrote: It should be completely illegal for insurers to give discounts if you accept to forego any privacy. A very creepy trend.
Why? You aren't forced partake. Why should you block rest of people who want to by making it illegal to get an alarm discount for self/central monitoring?

I mean, do you think rfd should be illegal? They have cookies, require you to register, sell ads and browsing data too as well as affiliate links
Deal Fanatic
User avatar
Aug 29, 2012
8658 posts
8264 upvotes
StatsGuy wrote: Why? You aren't forced partake. Why should you block rest of people who want to by making it illegal to get an alarm discount for self/central monitoring?

I mean, do you think rfd should be illegal? They have cookies, require you to register, sell ads and browsing data too as well as affiliate links
I can choose never to go on RFD. However I don't exactly have a choice not to have car insurance or home Insurance.

It will become forced because unless governments act, it's going to become prohibitive to have any insurance at all unless one surrenders all privacy.
Deal Fanatic
User avatar
Oct 12, 2007
7790 posts
6219 upvotes
Ottawa
Poutinesauce wrote: I can choose never to go on RFD. However I don't exactly have a choice not to have car insurance or home Insurance.

It will become forced because unless governments act, it's going to become prohibitive to have any insurance at all unless one surrenders all privacy.
I will never sign up for one of those nanny systems that monitor my driving (and I haven't had a speeding ticket in 30 years) because that's just too much of an invasion of privacy for me personally but I have no quarrel with insurance companies offering discounts for those who do sign up. What I fear is that monitored insurance clients will become the norm and the discounted price will in effect become the standard and the un-monitored will have to pay usurious premiums just to protect our privacy. From a certain perspective, that is kind of where we already are - we'll see where this trend goes but I do share (some of) your concern.

This is still early days - if insurance companies can statistically correlate insurance payouts to behaviour (as opposed to incidents like speeding tickets or a flooded basement), then data about our behaviour will be king and that is definitely cause for concern. Fortunately, this is a regulated industry and governments can act to modulate it.
Deal Fanatic
Dec 20, 2018
7178 posts
6349 upvotes
Poutinesauce wrote: I can choose never to go on RFD. However I don't exactly have a choice not to have car insurance or home Insurance.

It will become forced because unless governments act, it's going to become prohibitive to have any insurance at all unless one surrenders all privacy.
Well you lose privacy by buying a car or house anyways.

Anyone can lookup property records to know when you bought your house, how much you paid, how much it's current assessed value is, what you've done to it and any drawings

When you buy a car, you have to register it and anyone can look you up with license plate

And you can not go on rfd, do you use Google? Apple? All scan your photos etc automatically.... do you go on internet?

And this thread is about home insurance and discount for home monitoring (self or central). Do you think having an alarm self monitored is too invasive? Or central monitoring too invasive? Alarms have been around for decades and predates internet even

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