Insurance Discount for Gated Communities?

Discussion in 'P&C Insurance Forum' started by IEG12, Mar 1, 2012.

  1. IEG12
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    IEG12 Member

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    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!
     
  2. Guest
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    Guest Guest

    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????
     
  3. joshb
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    joshb Well-Known Member

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    -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.
     
  4. Guest
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    Guest Guest

    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.....
     
  5. IEG12
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    IEG12 Member

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    Joshb, thanks for the help. I'm just trying to get a general idea how important this aspect is. Appreciate your comment!
     
  6. Guest
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    Guest Guest

    apparetly, I wasnt helpful, putz
     
  7. dizzy
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    dizzy Well-Known Member

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    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.
     
  8. nwaite
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    nwaite Member

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    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.
     
  9. Turz
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    Turz Well-Known Member

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    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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