Home Security and Homeowners Insurance
As if there were not enough reasons to install a home security surveillance system, you can also take the plunge simply for the financial benefits. Since many insurance companies offer discounted premiums for homeowners to have a home security surveillance system in place, you could actually come close to breaking even on the deal, depending on where you live, how much your homeowners insurance premiums cost, and whether or not your insurance company offers these discounts. Surveillance equipment can keep more than your property safe – for some homeowners, it can also mean major savings. Installing a security camera system may help you save money on homeowners insurance. Some of the most popular insurance providers in the United States offer this benefit, and using the information below, homeowners can decide whether or not investing in security cameras will also benefit their insurance-related finances.
Why do these discounts exist?
As risk is the major factor of the insurance industry, policy providers prefer clients who pose the lowest threat. Research has shown that properties monitored by video surveillance equipment are less likely to be burglarized than those without, so in turn, fewer of these homeowners will need to file claims for loss or damages. As more claims cost the insurance company more money, both parties can benefit from the installation of security cameras.
Intruders tend to stay away from homes that are protected by alarms and cameras because they pose an increased risk of being caught and going to jail. According to The Huffington Post, homes that are not monitored by video surveillance equipment are 300 times more likely to be broken into. These types of statistics are also attractive to insurance companies, as they often will lead to fewer expensive claims.
Does it matter which security system I choose?
Many companies offer larger discounts for more sophisticated security systems. These systems feature the latest industry trends, multiple base units, and up-to-date technologies like, remote monitoring and interactive monitoring services. Many of the top Security providers, including us, offer systems with these capabilities that allow homeowners to invest in a more involved system that will keep them safe while making them desirable candidates for insurance companies and discounts.
How Much Can I Save?
The discounts that are typically offered vary between 5% and 20%. The discount is usually closer to 5% if you simply install some deadbolt locks and a basic alarm system that is not monitored. For those who go all out and have a monitored home security surveillance system installed, the discount is normally closer to 20%. You would need to talk to your insurance agent in order to confirm what your discount would be. If your insurance company does not currently offer discounts, you may want to find one that does.
Do the Math
We install security surveillance systems that you can monitor yourself from any computer, or smart phone, with internet connection. All surveillance is also recorded, for later viewing or making a copy of any happenings, on your DVR we install as part of your package, with no monthly monitoring fee. Now, let’s assume that your annual homeowners’ insurance policy costs $1,200.00 with a 20% discount you will save $240.00 a year. Our 4 camera package, complete with 4 channel DVR, labor, materials, installation, training you on your new system, and 1 year warranty on parts, labor & Tech support, cost $1,999.00+Taxs, so, in essence, your home security surveillance system will pay for its self in 8 years. That’s a great cost effective way to give yourself the peace of mind that comes with a home security surveillance system!
Do your Homework
Do some shopping around and see how much a security surveillance system will cost. Do some price comparisons. Check prices for deadbolt locks and other security surveillance systems. Call your insurance agent and have him give you a quote for a discount, or, just have him tell you the companies’ policy in regards to discounts for home security surveillance systems. Doing all of this may take a bit of your time but you will be rewarded in the end.