The Connection Between Home Security Systems and Insurance Discounts
It’s well past midnight. Your family’s on vacation a thousand miles away. As quiet as a whisper, the burglar chips the pane in a downstairs window just enough to snake his hand in to unlatch it from the inside.
The scream of an alarm breaks the silence of the night. Lights go on up and down the street — and in your own unattended home. Soon, a siren wails in the distance, and the flickering lights of a swiftly approaching squad car stab the darkness.
From another part of the country, your phone alerts you to the activity. You even have a camera view of the shadowy figure running for his freedom.
The stranger never got into your house. Didn’t steal a thing. Your total damage report: one broken window.
This story has a happy ending because you have a home security system that will protect your family and possessions and can even lower the cost of your homeowners insurance through a home security system insurance discount.
How Home Security Systems Affect Premium Calculations
Homeowners insurance companies are in the prediction business. They provide guarantees of financial assistance when needed in exchange for the regular payment of premiums. In order to turn a profit, the insurer must be able to accurately predict that they’ll be able to collect more than they’ll have to pay out to most policyholders.
No one can tell the future, but underwriters get clues as to whether a policyholder is an acceptable risk. One such clue is ownership of a home security system. A good one can discourage burglars and vandals and provide early detection of suspicious activity, fire, and other costly risks.
That’s why most insurers offer varying insurance discounts for alarm systems. The better protection your system provides you and your family, the less likely that you’ll have to file a significant claim for loss, damages, or the destruction of your house or possessions. And the most advanced technologies — those that offer the highest levels of protection — tend to earn the most generous home security system insurance discounts.
Makes sense, right? But how much of an alarm system insurance discount can you expect?
That depends on your insurer and the technologies your system includes. But the discount rate might range from a couple of percentage points to 15% or more off of your monthly premiums.
Types of Security Systems and Their Effects on Insurance Premiums
Home security systems keep your home safe while your family is away for spring break or any other time with a range of components. The most basic element is the alarm. The loud noise scares away housebreakers and alerts residents if they’re home, and even the neighbors. Burglars trigger this alarm when they break glass or open connected doors or windows while the alarm is set.
More advanced systems include 24/7 remote monitoring. This system will automatically notify the police of the disturbance unless the homeowner gives notification that the alarm was tripped accidentally.
Even more advanced systems include motion detectors and surveillance cameras installed on the perimeter of the property. Lights will go on indoors or out if motion is detected. You may have heard about people who have been seriously sickened or worse from things like carbon monoxide poisoning so you can get a detector that alerts for that and/or smoke. Other useful protective elements include sprinkler systems.
Today’s home security systems are tied to smart technology. That means you can get notifications and even camera views on your phone or laptop. You can set and disrupt alarms or alert local police even if you’re in another state or country.
Once again, the more advanced the system, the better protection your family and home will receive. That’s why alarm system insurance discounts are so readily available.
How to Choose a System That Satisfies Both Security and Savings Needs
Get help. Ask an expert. Your agent should be able to discuss your options and the alarm savings insurance discounts you can anticipate receiving for each choice. Then, crunch the numbers.
Your family’s assurance of safety and security is the primary consideration. The more advanced the system, the more you’ll pay. But you’ll likely receive a higher discount rate from a more advanced system — and your family might feel safer, too.
If you’re doing business with an independent homeowners insurance agent, you’ll likely be able to find the insurer that offers the most significant discounts. That’s because independent agents don’t work for just one insurer. They represent the product lines of multiple carriers, so they can shop for the most competitive rates for the policy that works best for you.
Get a Quick Quote on Affordable Home Insurance From Acceptance
Home security and insurance rate discounts are worth exploring. Strike up a conversation with your independent Acceptance Insurance agent. You’ll get answers to all of your questions and likely find the homeowners insurance option that offers the best discounts for the home security system you install.
Your agent will also explain additional ways of saving money on your coverage, such as by bundling your auto and homeowners insurance.
Just call us at (877) 405-7102, or get a quick cost quote online. You can also find an Acceptance Insurance office near you for that worthwhile chat.
