Motion sensors, live-video streaming and home security tools are protecting against home burglaries, but you might not have known that having a monitored home security system is protecting against losing dollars from your wallet or bank account.

According to a survey by the Electronic Security Association, ten of the biggest homeowner insurance companies reveal discounts up to twenty percent for properties with monitored home security systems.


Big Discounts

These monitored alarm systems result in homeowners discounts on their insurance bills, because burglaries account for large claims for homeowners insurance companies. Fire and lightening claims amount for even larger claims for insurance companies, up to ten times that of burglaries every year,and since many homes are equipped to prevent fire related incidents, insurance companies can protect on multiple issues at once.

This is a win-win for both insurance companies and homeowners. It’s smart that they offer a discount, and sometimes that discount is large enough to actually cover the cost of installing home security itself.

But not all home insurance companies offer the same discount, or up the 20% ceiling that we mentioned above. To see what your provider or a provider you’re looking into offers, simply request an insurance quote from your carrier to see how much money can be saved by installing security.

The Importance of Monitoring

Most companies will want the security provider to have monitored service for a full discount. One example, State Farm Mutual, will give a discount of up to 15% for home security that has central monitoring and emergency professionals that will respond to a break-in or emergency, but systems that simply notify the homeowner receives only a 7% discount. The fortunate thing is that you can still receive a slight discount for lesser forms of home security, but if you opt for a system that lacks any central monitoring, it’s likely you won’t receive a discount at all.

Oftentimes a homeowners insurance bill will slide into the mortgage payments, and since families are sending a check for those payments every single month, many checks can be sent without ever realizing how much money being spent is money that could be saved by simply getting home security.


Cutting Costs

Since a house is going to incur so many other expenses, families should look to cut costs within the home wherever they can. Many families obtained homeowners insurance from the start as a requirement to when they got their mortgage, and their cost of homeowners insurance depended on what it would cost to replace the house and which additional endorsements or riders are attached to the policy. So, homeowners will be happy to know that they can get some of this money back with home security discount.

According to a study by Dr. Simon Hakim of Temple University, a single family home that is secured is over 60% less likely to be broken into than a home that is similar but lacks home security, so the incentive isn’t solely about money.

Home security will protect your family, your belongings, and save you money.