Every homeowner would always prioritize their safety at the comfort of their homes. Who would not want to have a peaceful rest or a peaceful neighborhood free of crime? That is why most of the home owners would get home insurance policies that would at least give them peace of mind even if unfortunate incidents happen at home when they are away. If burglary would happen in the household, a home owner can file a claim in their insurance company. But if the risk of the household to such an incident rises dramatically because of neglect on the part of the owner, the home insurance company would always increase the premium—leaving the home owner worrying about his or her safety and at the same time. You can avoid the significant rise in the premiums because security systems reduce home insurance premiums.
According to the FBI Crime Clock in 2015, around 4, 300 burglary incidents happen every day in the United States. This means nearly 1.6 million people experience theft in their households annually. These homeowners may have insurance policies to cover possible loss but the significant rise in the premiums for repeated theft incidents can hurt their pockets as well. About 72% of these annual burglary happen in residential areas putting them at risk regardless of the insurance policies they have. Since this type of crime is common among households, most homeowners also invest in home security systems that can assure the safety of their properties even if they are not around. Security systems vary in their features but the purpose remains the same—to protect the owners’ belongings and their property. Installing such types of home security systems can prevent these thieves from roaming around the neighborhood as these systems can deter them from entering any home that has one.
Here are some of the ways you can effectively cut your home insurance costs using a good home security system.
- Choose an efficient security system
Security systems vary in a lot of features and they can vary on the type of security they can provide to your home. You can reduce home insurance costs if one of these security systems are installed at your household. The more security features it has, the more you can keep that premium level intact and free from significant rise. One can go for a simple security system that can be easily installed though this one is unmonitored. However, a wireless security system provides better security than the simple security system that can be bought on a cheaper price. This can be monitored by the owner as included in the package. If a good security system is installed, the insurance provider can assess that the household is risk-free and the insurance premium can also be given a discount.
- Install other home security systems
To intentionally lower their insurance premiums, you can install additional home security systems aside from burglar alarms if theft is the primary concern. Usually, insurance premiums cover a variety of incidences that can be included in the package such as fire or other calamity insurance policies. You can install smoke alarms and additional deadbolts provided for the additional security system. This is a 100% sure method of reducing home insurance costs if you are planning to get one.
- Minimize Theft Claims Quota
Inasmuch as you care about your home, you must also see to it that the neighborhood where you are currently residing has not reached what they call as Theft Claims Quota. If a neighborhood is susceptible to theft or burglary incidents from time to time, the theft claim quota can be hit in an instance—putting your insurance costs higher due to the number of unfortunate incidents that can be seen in the neighborhood. So make sure that your neighborhood has a minimized theft claim quota and that can be achieved through a comprehensive security system around the area. Care about the area just like how you care about yours. And there you will see your insurance premium at a good level.
- Get acquainted with your insurance policy guidelines
There are instances that we will only rely on the summary of the insurance policy we get for our households without trying to read every detail of it once a certain incident kicks in. You can find yourself at a higher risk for additional cost if you are not familiar with the policies that are included in the package simply because you choose to just sign it and let the magic work. Read your home insurance policies carefully so you would know the perks and possible cost it could give you at any rate and if fire, theft and other calamity happened at your doorsteps.
Burglars usually target the same residence more than once as per PDXScholar, if you have ever experienced theft in your household, that only means you and your place is higher in terms of risk assessment. You can pay your premiums higher to assure that they can cover more but an efficient security system can always beat the odds. Do not hurt your own pocket by higher insurance policy coverage but be smart enough to invest in higher security systems that will keep your insurance premium intact at a certain level. You can also gain your insurance policy providers’ trust as they can assess how you value security and the amount of coverage they can offer for your home and in the entire neighborhood.