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 Posted: Fri Oct 17, 2008 5:57 am Post subject: Does home security system affect insurance premiums? |
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Hi..I've recently ordered for a home safety system. Is there a possibility that my carrier would reduce my insurance cost?
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Mermaid-attitude
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| Posted: Fri Oct 17, 2008 6:24 am Post subject: |
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Let us put it this way….the home security system will ensure both yours as well as the insurer's peace of mind and hence may be a worthy investment to protect your possessions.
The insurer may consider that you're at a lower risk of experiencing burglary at your home and therefore may file fewer claims against your policy for thefts. This may encourage the insurer to moderate your home insurance rates.
~Jeremy |
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JeremyHolter
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| Posted: Fri Oct 17, 2008 6:36 am Post subject: |
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My friend, the best way would be to call on your agent and ask him regarding any such alterations. But at the same time I'd also advice you to be sure if premiums could be further lowered due to any add-on security service. Discounts could be worth any amount...but for the real good ones you'd need to show that you've lesser risk to be covered 
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ArindamSenIndies
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| Posted: Fri Oct 17, 2008 6:39 am Post subject: |
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If you're residing in a high crime rate zone or are living in a house that may be the easy target for the burglar, you may consider installing sophisticated home security system just to ensure the safety of yours and your family.
Home insurers are encouraging the customers to install the security system on their property by giving discounts on their home insurance policies. Hence, the idea of the securing your home may also fetch you financial advantages. Some insurers are known to offer upto 5% discount on the homeowners policy's premium if the policy holder install a dead-bolt lock in his residence. Hence, it may worth considering the option  |
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jeorge
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| Posted: Fri Oct 17, 2008 10:25 am Post subject: |
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Most carriers will give a discount for a home security system...I know I get 10% for the same.
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Lori
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| Posted: Fri Oct 17, 2008 11:21 am Post subject: |
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| Yep I get one too...It really is a great investment (especially these days). I think it is wonderful that you even get the discount HO offers. Give yours a call and check into it. |
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fireyone
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| Posted: Fri Oct 17, 2008 1:41 pm Post subject: |
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I would get a security system more for your piece of mind than the discount on your insurance. The system might be free, but they are goign to get you on the monitoring. They will ask for as long as a three year contact - price anywhere from $9.99 to $29.99 per month.
Even if you save $200.00 per year on your HO insurance. $24.99 a month for a year is $299.88.
Definitely tell your agent...$200.00 is $200.00.
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LifeIsGood
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| Posted: Fri Oct 17, 2008 10:39 pm Post subject: |
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| Still that isn't a bad deal. So in the end after the discount your only paying roughly $100 dollars. That is an excellent investment. |
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fireyone
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| Posted: Sat Oct 18, 2008 12:34 am Post subject: |
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Most people get the systems because they want the systems...it's just an added bonus if you also get an HO discount.
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Lori
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| Posted: Sat Oct 18, 2008 12:45 am Post subject: |
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I would definitely recommend having the system monitored - for both fire and theft - by an outside monitoring station. Nice peace of mind when you are away knowing that if something should happen, the authorities will find out almost immediately.
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LifeIsGood
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| Posted: Sat Oct 18, 2008 1:00 pm Post subject: |
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What are some good companies..I have heard of Brinks..We have our own system we purchased...I wouldn't say it is the most reliable..An alarm system if a door or window that is hooked up it will sound. We use it for when we go on vaca. Then just your typical fire alarms. They are wired into the house but if the electric goes out they will go to battery power.
I wouldn't mind getting the other kind once I got all the other drama in my life fixed. |
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fireyone
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| Posted: Sat Oct 18, 2008 6:05 pm Post subject: |
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There are hundreds out there. Brinks and ADT are big everywhere. Find someone who will give/upgrade you(r) equipment at no cost...then you just sign a 2/3 year contract for monitoring. Too many deals out there so you shouldn't have to pay for equipment.
I know of a company I have referred to a few people, NCA Alarms (http://www.nca-alarms.com/about.html) who monitor for only $ 9.95. Across the street neighbor uses them and I have told a few clients about them - they are all very happy. However, they don't give away equipment - they use the existing unit or charge for a new one.
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LifeIsGood
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| Posted: Sun Oct 19, 2008 2:09 am Post subject: |
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| Thanks a ton life. I am going to check out that site with my husband. We live deep in the woods and I am here alot by myself. I would feel alot better with a system like this in place. |
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fireyone
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| Posted: Sun Oct 26, 2008 3:59 pm Post subject: |
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Yes! A great chance your insurance company will lower your rates for a home security system. The only reason they wouldn't is if for some reason they have already given you this discount to get your policy which wouldn't be right if they did. I would call your insurance agent right away and inform him of the new security system. If they don't lower rates, consider shopping for new quotes with the same coverage options. Most insurance companies will offer up to a 10% discount for home security systems or alarms.
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| Posted: Sun Oct 26, 2008 4:02 pm Post subject: |
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Home security systems can save hundreds of dollars on insurance policies. A lot of times savings up to 15% can be found with home monitoring alarm systems. Almost every alarm type will save you some money off your current policy.
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