Installing sprinklers and smoke alarms in your home increases your chance of surviving a fire by more than 82 percent, and allows for:
- Safer fire service
- Quicker fire detection
- Reliability
- Low water requirement
- Low cost (a sprinkler costs about $1.35/sq ft; about the same as upgraded cabinets or carpet)
- Lower insurance (it has the potential to lower insurance rates by 5-15%)
Original source can be found here.