You might already know ways that a Z-Wave smart home system can save you money: smart thermostats that only heat and cool your home when it needs it; smart dimmers that reduce the energy consumption of your lights (saving on monthly utility bills and replacement costs); smart plugs that shut off completely when they aren't needed.
But did you know that Z-Wave technology could also potentially reduce the amount of money you're spending on homeowner's insurance premiums?
Not every application of smart home tech will qualify – they probably don't care if you're using smart speakers to play music for your guests. But if you're using Z-Wave technology to create a safer and more secure home environment, chances are that many of them will take that into consideration.
The most obvious examples are things like the Fortrezz Wireless Water Shut Off Valve, which—when combined with a good floor/water sensor—can literally prevent burst pipes from flooding your home. Given that water damage is one of the most common home insurance claims, it makes sense that most providers will cut you a break for being proactive in preventing such damage.
Another no-brainer is ADT Pulse—a professionally installed and monitored home security system that also serves double duty as the centerpiece of a complete Z-Wave smart home system. Since virtually all homeowner's insurance policies give discounts for security systems, an investment there will payback when you write that insurance check or in your monthly mortgage payment.
But if you've added enhanced monitoring and control capabilities to your home (whether your hub is ADT Pulse or a DIY system like SmartThings), you should definitely check with your local agent to see what other discounts you may be eligible for.
With most providers, the benefits offered vary from state to state, but companies like Travelers offer discounts for "Smart or connected home technology which alerts the customer that a fire or burglar event is occurring." And State Farm will work with you to reduce your premiums if you have one of a number of "qualified home monitoring and automation systems."
Given that smart home technology isn't ubiquitous yet, you may have to explain your smart home enhancements to your local agent and make the case for why they qualify you for a discount, and it never hurts to go in armed with info such as that listed above from your own provider's website. The money you could save could go a long way – and before long, your smart home will have paid for itself.