Insurance Companies Required to Offer Discounts in Secure Gated Communities?

[jondar]

What is the name of your state (only U.S. law)? Maryland

I am trying to find out whether any state/s require sellers of homeowners insurance to offer lower rates to financially stable homeowners who can document that they live in highly secure high-end gated communities in zip code areas where crime rates outside the gates may be relatively high. Can insurers legally rate them the same as if they lived outside such high levels of protective security. In the case of auto insurance, if the owner has added safety equipment, safety and anti-theft discounts are common. Does target hardening in gated communities qualify for similar rate discounts by either statute or regulation. I do realize some states (NJ, FL, TX, for example) require homeowners be offered insurance discounts for meeting or exceeding strict modern building codes designed to reduce risks from fire, storm, and flood damages. I'm focusing, however, on behavioral risks such as crime. Thanks for any assistance or leads you can supply.

[b.momma]

Insurance companies are not required to provide any discount. If you feel you are not beng provided with the best insurance for yyou, you are free to look around at other companies.

You may be getting a discount for living in a gated community, most companies recognise that as positive, but they are not REQUIRED to provide any discount. they set the rules and guidelnes... if you dont like it you are free to find another company.

[xylene]

Originally Posted by jondar

What is the name of your state (only U.S. law)? Maryland

I am trying to find out whether any state/s require sellers of homeowners insurance to offer lower rates to financially stable homeowners who can document that they live in highly secure high-end gated communities in zip code areas where crime rates outside the gates may be relatively high. Can insurers legally rate them the same as if they lived outside such high levels of protective security. In the case of auto insurance, if the owner has added safety equipment, safety and anti-theft discounts are common. Does target hardening in gated communities qualify for similar rate discounts by either statute or regulation. I do realize some states (NJ, FL, TX, for example) require homeowners be offered insurance discounts for meeting or exceeding strict modern building codes designed to reduce risks from fire, storm, and flood damages. I'm focusing, however, on behavioral risks such as crime. Thanks for any assistance or leads you can supply.

PERHAPS you have been sold a bill of goods on your wonderful gated community?

Just saying. If insurers thought gated community were great (and by this I mean reduced claims) then they would encourage them with premium reductions - as they do with proven claim reducing strategies.

Perhaps you are paying a lot for 'target hardening' that doesn't work.

[moburkes]

Originally Posted by jondar

What is the name of your state (only U.S. law)? Maryland

I am trying to find out whether any state/s require sellers of homeowners insurance to offer lower rates to financially stable homeowners who can document that they live in highly secure high-end gated communities in zip code areas where crime rates outside the gates may be relatively high. Can insurers legally rate them the same as if they lived outside such high levels of protective security. In the case of auto insurance, if the owner has added safety equipment, safety and anti-theft discounts are common. Does target hardening in gated communities qualify for similar rate discounts by either statute or regulation. I do realize some states (NJ, FL, TX, for example) require homeowners be offered insurance discounts for meeting or exceeding strict modern building codes designed to reduce risks from fire, storm, and flood damages. I'm focusing, however, on behavioral risks such as crime. Thanks for any assistance or leads you can supply.

Living in a gated community does not protect your home from the majority of the perils covered by insurance. The only thing that living in a gated area protects you from is theft. Apparently, they feel they've rated you based on your location already, and decline to offer additional discounts.