How Home Security Systems Lower Homeowner Insurance Rates
February 21, 2017
A home security system doesn’t just keep a household safe; it can also go towards lowering the cost of your homeowner’s insurance policy. Though every insurance company is different, many of them offer incentives and rewards for improving your home security.
If you’ve been thinking of installing a security system in your home, here is just one more reason why you should stop thinking about it and call Security Doctors today.
Better Security Means Better Discounts
At Security Doctors, our alarm systems provide unparalleled security to a variety of residential properties, from houses and condos to townhomes and duplexes. Having a security system installed proves to your insurance agent that you’re serious about the security of your home and that your home is less vulnerable to threats that could lead to costly damages. Typically, you can become eligible for insurance premium discounts just by showing that a security system has been activated or installed in your home.
According to the Insurance Information Institute, “You can usually get discounts of at least 5 percent for a smoke detector, burglar alarm, or dead-bolt locks. Some companies offer to cut your premium by as much as 15 or 20 percent if you install a sophisticated sprinkler system and a fire and burglar alarm that automatically alerts the police, fire, or other monitoring stations.”
Taking into consideration your specific security needs and the discounts offered by your insurance agency, Security Doctors can help you customize the perfect security package for your home. Just bear in mind that the more secure and thorough your system is, the larger the discounts you’re eligible for will be.
Make Your Home More Insurable
We not only provide systems that can help protect your home from criminal acts. We also offer security in the event of a fire, high levels of carbon monoxide, or a water pipe break. The capabilities of your home security system will help your insurance company determine how insurable your home really is. This is a major factor when it comes time to renew your insurance or sign on with a new company.
Inspection surveys are commonly used by underwriters in order to determine if a dwelling is a good risk to insure. The types of surveys conducted can vary, but typically they will involve a company hiring independent contractors to visit a property, take photos, and conduct brief interviews.
The questions asked during these interviews are aimed at determining if hard-wired smoke detectors, carbon monoxide detectors, and a security system exist within the home. Homeowners who can answer yes to all of these questions will have a greater chance of getting renewed with little hassle, while receiving monetary discounts to their premium.
Additionally, insurers know that security systems keep homes safe from potential risks, which can mean a lower number of claims being initiated by the policyholder. The number of insurance claims filed by a homeowner is a major determining factor when it comes to pricing out a person's premium. A home security system gives you a much better chance of having no claims due to theft or vandalism, and fire alarm system can mean the difference between minor smoke damage and severe fire damage.
Combined, these security features make you a very low-risk and high-value insurance customer.
Costs vs. Savings
Purchasing a home security system may seem expensive, but the safety benefits and accompanying discounts often far outweigh the costs. An investment now can pay dividends over time. Every year your home is protected by Security Doctors, you’ll pay less in home insurance premiums and have the peace of mind of knowing your home and your family are protected from crime and natural disasters.
Contact us to learn more about Security Doctors and the variety of home security solutions we offer.