Monday, 10 April 2017

How to lower your insurance premiums #Insurance

Over the years we have seen a massive increase in the integration of technology into our everyday life. From our fridges, TV's and cars everything now seems to be boasting some new form of computing marvel all in order to improve upon our experiences.

So how can this all link in to savings on our home insurance premiums? Now we are not talking about the generic savings that you might make by using a cashback website or by switching to a new company.


Connected Devices

We have already seen a shift in connected devices, you can already purchase fridges with cameras in so you can quickly take a peak inside while out shopping for food (no more nipping back to the shops for that missing item!) Having a remote control for your heating is also a godsend, there is nothing worse than returning home to a cold house, and if you are using a timer it can be frustrating (and costly!) to be heating an empty house if you are running late.

Big Data

Everything we do nowadays seems to be monitored, I am not 100% sure that this is the ideal, however as this seems to be a global trend it is surely here to stay. So why not use this to your advantage, by allowing your insurance company access to all data you have about your lifestyle habits, anything from when you turn off your electrical devices to when you set your intruder alarms, this could all be used to give a bespoke deal on insurance based on your individual risk rating.

Consumer Control

With so many of your devices with internet connectivity you will surely be able to master them all with your smartphone. Having the ability to control them from any location can be used to your advantage, for example if you are on holiday, having access to your security systems including cameras, could assist with identifying problems such as a burst pipe or devices left on. By finding this issues early could potentially save damage to your property meaning the resulting claim will be reduced, resulting in lower premiums. 

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