Insurance Discount for Gated Communities?

IEG12

Expert
21
Texas
Hi, what is your experience with insurance discounts and gated communities? Specifically:

- Are home insurance losses less in a gated community?
- What is the range of discount (%) for gated communities and how common is the discount?
- Any other information about them?

I appreciate the help!
 
an agent isnt going to know the loss ratio in a gated community....

Range of discount will vary by company and by type of alarm....

Alarm system can be good????
 
Hi, what is your experience with insurance discounts and gated communities? Specifically:

- Are home insurance losses less in a gated community?
- What is the range of discount (%) for gated communities and how common is the discount?
- Any other information about them?

I appreciate the help!

-Yes losses are less likely. Typically homeowners take more pride in their homes in gated communities (if they don't HOA is on their back). Also less Theft losses.

-In my area discounts range from 5-20% depending on the carrier, and if the community is single entry (no gate), Gated with a passcode box, and gated with a security guard.
 
well, you know, common sesne should tell you that, if an insurance company is offering a discount, its because it has less of a claim happening.....
 
Joshb, thanks for the help. I'm just trying to get a general idea how important this aspect is. Appreciate your comment!
 
Some carriers have allowed for discounts it is between 5-10% . Guard gated seems to have the higher discount. Yes there is a marked drop in property claims in gated communites as long as they activly manage changing gate codes. A round 15% were in gated community mostly upscale, that has slowed due to assoication needing to maintain gates. However some area were built with the intention of going gated at a later date and they are starting to do that it is a cheap alturnative, to raising property values. In our case that 5-10 % is off setting 30-40 % rate increase.
 
In Florida the companies typically offer between 10-15% discount depending on the level of security.

Usually the options are None, Single Entry / Passkey Gate, or Guarded Gate. With 15% going to the guarded gate.
 
Not a discount in my current state. The last two gated communities I had were 6,000 acres of nightmare (fires, hail, and trees, oh my!) and the other was 500 acres of murder and drugs.
 
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