January 30, 2014
Save Money on Homeowner’s Insurance with a Home Security System
Owning a home security system has many benefits, the most obvious of which include: protection of your home and belongings, security for your family, and peace of mind.
However, there is a benefit that many people may overlook or just not know about: discounts on homeowner’s insurance. You read that correctly – owning a home security system can save money on something most people already have!
We all want to reduce our bills, here’s how owning a home security system can help.
Why Insurers Give Discounts
Insurance companies like seeing that you’re making a personal investment to protect your assets because they’ll be able to spend less should you ever need the insurance. As a result, they’re more likely to give you a better discount on your homeowner’s insurance.
In most cases, homeowners see a discount around 15 percent. However, some companies have been known to hand out 20 percent discounts!
Your discount will be dependent on a number of factors. Keep these in mind when you pursue a discount – we don’t see why anyone wouldn’t!
- The security system. The sensors, home automation equipment, and type of monitoring are important. A fully equipped system with cameras and cellular monitoring is going to help you get a better discount on homeowner’s insurance.
- Fire sensors. In most cases, there are additional discounts when you have monitored fire protection. Fire emergencies are more common occurrences than burglaries, so insurers will reward the extra protection.
- Monitored vs. Unmonitored. Insurance companies will always favor a monitored alarm system to an unmonitored. With the recent influx of self-monitored systems, it’s important to make that distinction when speaking to your insurance company.
- Insurance company. No two insurance companies are the same. Each has different rates and qualification requirements to adjust your rates.
- Safety of your area. Similar to a safe drivers discount on your car insurance, a safer neighborhood will help you get a better discount on homeowner’s insurance. If you already own your home, it’s too late to factor this in, but if you’re in the market for a new home, be selective when choosing the neighborhood.
Get Your Discount ASAP!
If you’re a homeowner with a home security system and you’re not getting a discount on your homeowner’s insurance, contact your insurance company as soon as you can! There should be nothing stopping you. Add ‘saving money on insurance’ to the long list of benefits of owning a security system.