As a homeowner, you probably had to initially get your homeowners insurance policy as a requirement when you got your mortgage. The cost of homeowner’s insurance often depends on what it would cost to replace the house and which additional endorsements or riders are attached to the policy. Many people who do have homeowner’s insurance seem to be more hesitant about securing their homes with a home alarm system. This is because one of the most common objections to installing a security system is that the need for a system is entirely negated by their insurance.
While home insurance is a valuable asset, it does not entirely negate the need for a home security system. In fact, there are a lot of financial and safety benefits to having both! Policies differ widely, just as insurance companies do. One thing is for sure. It is possible to save money on your home insurance coverage with a security system.
Monitored Systems = Lower Rates
Did you know that having a monitored home security system can lower your homeowner’s insurance rates? Many insurance companies offer discounts for individuals who have taken measures to increase the safety and security of their residence. According to a recent study by Rutgers University School of Criminal Justice, the availability of monitored burglar alarms to middle class homeowners has helped reduce crime significantly. And in a survey by the Electronic Security Association, ten of the biggest homeowner insurance companies revealed discounts of up to twenty percent for properties with monitored home security systems.
The reasoning behind the homeowner insurance companies’ discounts is clear: modern home security systems are more reliable than ever. As most security companies nowadays offer not only burglar alarms, but also fire, smoke, and flood alarms, homeowner insurance companies recognize how much protection their investments get. According to a study, the biggest insurance discounts come from a system that monitors for intrusion and fire – and here’s why:
In addition to discouraging burglars, modern alarm systems also reduce the damage caused by fires. Fire and lightning claims are almost 10 times higher than claims for burglaries and thefts according to statistics from the Insurance Information Institute. “The alarm’s ability to notify the fire department whether or not anyone is at home or able to call for help is vital in reducing the cost of these claims and protecting building occupants.
Benefits Beyond Discounts
A security system can offer surprising benefits beyond a lower rate on your homeowner’s insurance. For example, in the unfortunate event of a burglary or if your property is damaged by something else – you might want to file and insurance claim. Insurance companies will want to inspect the damage beyond reasonable doubt that it was inflicted by a cause covered in your insurance policy. If your home has a security system with video surveillance, there is hard evidence to prove your claim legitimate.
For homeowner insurance companies, it’s simply good business to offer discounts for homes with security systems. In many cases, the discounts cover the costs of installing a top-notch home security system. However, you’ll reap the benefits even more if you choose a security system from Protect America. At Protect America, there are no installation fees and equipment is free with purchase of monthly monitoring. With monitoring fees as low as $19.99 a month, it is definitely an asset worth investing in for your home and family. For those of you with broadband monitoring, the monthly cost of a Protect America security system would be less than $16 per month once a home insurance discount is applied. For 50 cents a day, you can have the peace of mind knowing that your family and home will have the extra protection you want!