You already know that home security systems save you money and worry because they protect your family, your property, and your belongings. Fortunately, insurance companies know this, too! Most insurance companies offer discounts on homeowners insurance premiums when you tell them that you have a home security system installed! Discounts range from 10% to 15% on average with discounts even up to 20% being the highest we’ve seen.
Ultimately, insurance and home security serve the same cause; providing you, the homeowner, with peace of mind regarding the risk of break-ins, property theft, and property damage. It naturally goes hand in hand, then, when regarding the value of deterrents and alarms, that an improvement in the home security of a property would benefit the company that insures it as well. When you make improvements in the safety of your home, you are physically proving that you are dedicated to security and the protection of your property. This shows the insurance companies that you are informed and aware of your situation and your property’s vulnerabilities.
Multiple lengthy studies have proven the connection between the presence of home security systems and significantly lowered burglary rates. The difference can be between a two to three times decrease in the likelihood of your home being burgled. Insurance companies know this, and decreasing your risk decreases theirs, too. So as a way to encourage homeowners to install alarm systems, they offer significant discounts for keeping an alarm.
This is Great News
Because monitoring services come with a monthly charge, this is a great way to mitigate that impact on your expenses. Unfortunately, it’s unlikely that you’ll be able to cover the entire expense of having a monitored home security system, but it will still represent a significant portion of savings.
Modern home security has become more affordable and accessible than ever. Historically, home security alarms and monitoring systems have been a luxury—only for the larger homes of the relatively wealthy. Today, the technology is created more efficiently, and monitoring services have been scaled to be available for small apartments and homes of working class families. Along with the discounts on insurance premiums, it’s now easier than ever to maintain a security system in your home.
Security for Less Checklist
Here are some key points that insurance companies look for when evaluating your home security discount. If you have any of these, mention them to your insurance company if you haven’t already, and watch the savings pile in.
- Deadbolt Locks
- Home Automation
- Monitored Home Security Alarm System
- Monitored Fire Alarms
- Disaster Sensors