Home Insurance protects you and your home, but it doesn’t mean that you shouldn’t take a step further in protecting your own home. There are several security devices available on the market to ensure added protection for your home. Apart from security cameras and digital locks, you can install another security system in your home and these devices can help reduce your homeowners insurance premium.
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Home Security and Safety Devices
- Security Cameras – Burglary is a high-risk crime that no one can predict. This is why several homeowners insurance provides protection for stolen items. You can file a claim with your insurance company if your home has been a victim to theft. Due to the increased cases of theft, insurance companies offer discounts for a home with theft alarms and security cameras. The risk of burglary is reduced when burglars see that there is a security camera installed in the property. This is why insurance companies offer as much as a 20% discount on insurance premium for homes with CCTV’s. Apart from reducing your insurance premium, installing a security camera can also increase the safety and security around your home.
- Digital Locks – If you keep on forgetting your keys and you want to protect your home against unauthorized access, you can install a digital lock to protect your home. You are now given the option to install locks that only open with a lock code or your fingerprint. There are also more modern digital locks that allow you to lock your home through your phone. While this technology is relatively new, it helps protect your home against uninvited guests. This can also help you score a discount with your insurance company.
- Smoke Detectors – As the saying goes, “When there’s smoke, there’s fire.” Smoke detectors can help save your home from being burned to ashes by installing a smoke detector in your property. There are also modern smoke detectors that send a notification to one’s phone if smoke is detected while you are not at home. Installing this device can rake in 5 to 10% discount on your insurance premium.
- Water or Gas Leak Detectors – Leaks can be hard to detect, but they are extremely dangerous. Regardless if you install a gas leak detector or a water leak detector, your insurance premium may go down by 10 to 15%. After all, using leak detectors will help your insurance company save up on insurance claims because the damage can be curbed before it gets worse.
How much does a security system save on homeowners insurance?
Installing various security systems can help protect the home from safety and security risks, but also help lower your insurance premium. Your home insurance company will charge you with a higher premium if your home carries a higher risk. However, setting up security systems around your home can lower some risks. As a result, it may also help in lowering your insurance costs. Based on our research, security systems can reduce homeowners insurance premiums by 20 to 30%.
Other Benefits of a Security System
Apart from the reduced insurance premium, having a security system on your home will reduce the stress of any homeowner. The idea that the homeowner will be alerted of any unwanted events in their home will help them minimize the damages caused by these occurrences.
Imagine if your loved ones are sleeping at home and your device has alerted you of a gas leak. You will be able to rush home or call them immediately to vacate the property. You can also alert the professionals of the gas leak in your property to have them deal with the issue. If you have installed a security system and a burglary occurs in your home, you can use the footages as your proof that your personal belongings are stolen.
Finally, you may think that installing a security or safety system can be costly. However, it may help you save up on long-term costs because it helps you lessen your insurance premium and it can help prevent further damages. Moreover, you may not be able to buy peace of mind, but having around-the-clock security systems installed in your property can help lessen the stress.