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Mar 29, 2017

Get Smart! Cash in on Smart Home Rebates

Homeowners and renters now have numerous opportunities to receive significant discounts on the most popular Smart Home products. In some cases, these products are virtually free.

The following is a guest post from John T. Murray, an agent with Coldwell Banker Residential Brokerage in Washington, D.C.

Homeowners and renters now have numerous opportunities to receive significant discounts on the most popular Smart Home products.   In some cases, these products are virtually free. 

Do your research as local utilities, law enforcement organizations and national insurance companies are increasingly partnering with Smart Home vendors to help residents further improve security, lower utility costs and increase convenience.

The most popular Smart Home devices on the market now address the issues of heating and cooling (smart thermostats) home security (smart locks, smart alarm systems or cameras), and safety (smart fire/carbon monoxide detectors).  

Smart Thermostat Rebates from Local Utilities

Utility companies such as AEP Ohio, ComEd, Nicor Gas, PPL Electric Utilities, Tucson Electric Power and Washington Gas now are offering rebates on a number of smart thermostats.

For example, The District of Columbia Sustainable Energy Utility (DCSEU) is offering $100 rebates on qualifying ecobee, Nest and Honeywell smart thermostats purchased through March 31, 2017.  These products retail for up to $249.  DCSEU estimates a yearly energy cost savings of between 7%-10% when you replace your thermostat with a new programmable one. 

To see if such offers are available in your community, visit www.ecobee.com/rebates and https://nest.com/energy-partners

Discounts on Home Security

Check to see if your local law enforcement agency is offering discounts on home security.  For example, the District of Columbia’s Metropolitan Police Department has joined forces with Smart Home security company Ring to offer up to a $500 rebate per residence on outdoor Ring Video Doorbells and Stick Up Cams that are installed on the exterior of a home.  Both products retail for $200. 

Ring has already worked with cities across the US to launch similar programs. Last year, Ring partnered with the LAPD and gave away Ring Video Doorbells to residents in the Los Angeles neighborhood of Wilshire Park. Over the next six months, that community saw a 55% reduction in burglaries.

Discounts from Insurance Companies

National insurance companies increasing are offering insurers free or discounted Smart Home devices along with discounts on home insurance policies.  Why?  According to recent research findings from NTT DATA, 64% of U.S. homeowners insurance customers would be willing to change insurance companies to get policy discounts for using smart home devices, including smart thermostats and smoke/carbon monoxide detectors.

Here are a number of available options:

  • American Family Insurance – new and existing homeowners insurance policyholders receive a $30 discount on Ring video doorbells and could qualify for a 5% insurance discount
  • Liberty Mutual – switch to Liberty Mutual home insurance and receive discounts on your insurance along with a $99 Wi-Fi connected Nest Protect smoke and carbon monoxide alarm or a $100 August Smart Lock.
  • State Farm – when you purchase a Canary All-in-One Security Device, you get a $20 Visa gift card and save $20 on a Canary Annual membership, in addition to receiving home insurance discounts.

Before you purchase your new smart home devices, do your research and potentially save a few hundred dollars.  But hurry, as some rebate programs are ending soon.