More property insurers are reducing premiums when residential sprinklers are installed. The reduction runs from 10-20 percent in the U. S. to over 40 percent in Canada. One caveat for 1-family homes here is that the reduction may only apply to the fire portion of the premium, so check before making estimates of the dollars to be saved. A homeowners policy is called a multi-peril policy because it covers more than fire. Things like theft and liability are also included, and the fire portion of the total premium may be 25-35 percent. If the insurer says that they will reduce the fire portion by 20 percent, then this can only be applied to the fire portion and not the total premium.
For owners of apartments and commercial buildings, the news is better. Insurers are willing to reduce the liability portion as well, and we saw one report where this was decreased by 50 percent. In these cases, the insurance savings can be very significant.