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  • Can A Home Security System Reduce My Insurance Premium?

    We spend a lot of time on this blog discussing the benefits of home security systems, like protection from home invaders, privacy from solicitors, and better overall peace of mind. But there’s another, less-discussed benefit of residential security systems, which is the financial savings you can realize on your home insurance. Many leading home insurance companies will provide deductions for theft deterring devices—but are these deductions enough to offset the installation and monitoring costs? Learn more below from our Charlotte access control installer.

    Why it Pays to Incentivise Home Security

    Many studies have shown that there is a significant correlation between anti-theft devices and crime reduction rates. A 2009 Temple University study, for instance, found that a single-family home equipped with a burglar alarm is 60% less likely to experience a home invasion. This research has not gone unnoticed by major insurers. These companies know that providing homeowners a small discount in order to incentivize security measures pays for itself; by cutting a bit off your bill every month, they can save themselves thousands, or tens of thousands of dollars. Theft isn’t the only thing insurance companies want to prevent. Fire and lightning actually account for much higher damage costs—hundreds of thousands, or millions. Since modern alarm systems also help protect against fire damage, insurance companies are even more invested in encouraging homeowners to protect themselves.

    Does the Deduction Offset the Costs?

    To put a long matter short, no—insurance deductions usually don’t completely offset the costs of either installing or maintaining a comprehensive security system. However, they can make those payments more manageable. Costs vary widely between states and insurers, but typically, the average homeowner may be able to save up to 10% on their home insurance bill by installing an anti-theft device. Higher deductions are typically awarded to homes with a system that communicates with local law enforcement or a private security company. You can realize further benefits by adding the following options:
    • Deadbolts on all exterior doors
    • Fire extinguishers on every floor
    • Smoke detectors on every floor
    • A sprinkler system on each floor

    Bottom Line: Your Safety and Peace of Mind Are Priceless!

    So, should you invest in a home security system? As a Charlotte access control installation company, it won’t surprise you when we say yes. But that’s not just because we want to make a sale: it’s because we’ve seen firsthand what a good security system can do. Many of our clients call us after experiencing a home invasion, and we often find ourselves wishing that they had heard of us before the crime occurred, so that they would never have suffered the loss or trauma of a home invasion. By being proactive and setting up security measures, you can obtain peace of mind—something that, in our mind, is priceless! To learn more about our Charlotte access controls, security fencing, surveillance cameras, motion-detection lights, and other theft-deterring solutions, please click here.