Having a home security system installed offers a greater level of protection for your family and your home. Did you know it also helps you save on your home insurance rates every year?
Since a home burglary happens about every 18 seconds in the United States, according to Zacks, and the average property loss is $2,251 per incident, insurance companies offer discounts when you install a home security system to prevent this from happening.
How Much Can You Save?
The amount you will save on your home insurance depends on the type of alarm you have installed. The savings can be as much as 20%, which can really add up over time. The best way to ensure you get the highest discount is to make sure you have a home security system with central monitoring.
Multiple Savings With Multiple Protections
A home security system is just one piece of the puzzle. Just by adding this level of protection to your home, your homeowner’s insurance company will likely extend a discount. If you have the security system hooked up to central monitoring, that discount will likely go up.
In addition, when you add fire protection through monitored smoke alarms, you'll likely gain an even larger discount. This type of home security system will now protect you from fire, which could destroy your home rather quickly. Add in a sprinkler system and you'll get an even larger discount on your home insurance.
Another level of protection you can add, which may help to boost your discount is protection from carbon monoxide. With a CO detector installed and monitored as a part of your home security system, you'll have even more protection, which means your insurance company will likely extend a larger discount.
Finally, you can add in additional protections from busted pipes and other types of flooding for an even larger discount. All of these home protections can be monitored to ensure your home is as safe as possible, which keeps the insurance company very happy.
Less Risk of Cost Hikes Later
When you add a home security system you'll lower the risk of your insurance going up over time, as well. This can be a benefit that keeps paying you back every year as you could keep your insurance rates from going up.
Lower Theft Claim Quota
Another way a security system can help to lower your insurance rates is by lowering the theft claim quota. If you and your neighbors get home security systems, the total theft quota for your area may drop, which helps to save everybody money on their home insurance in the area.
There are many great reasons to have a home security system installed with full fire, carbon monoxide, and other protections. Getting a lower rate for home insurance is just one of the many reasons. However, it can help to pay for the system costs over time as your rates will become lower and you'll be less likely to see your homeowner's insurance rates go up as much over time.