Does home security system affect insurance premiums?
by Guest » Fri Oct 17, 2008 05:57 am
Hi..I've recently ordered for a home safety system. Is there a possibility that my carrier would reduce my insurance cost?
Total Comments: 16
Posted: Fri Oct 17, 2008 06:24 am Post Subject:
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
Posted: Fri Oct 17, 2008 06:36 am Post Subject:
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 :)
ArindamSenIndies
Posted: Fri Oct 17, 2008 06:39 am Post Subject:
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 ;)
Posted: Fri Oct 17, 2008 10:25 am Post Subject:
Most carriers will give a discount for a home security system...I know I get 10% for the same.
Posted: Fri Oct 17, 2008 11:21 am Post Subject:
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.
Posted: Fri Oct 17, 2008 01:41 pm Post Subject:
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.
Posted: Fri Oct 17, 2008 10:39 pm Post Subject:
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.
Posted: Sat Oct 18, 2008 12:34 am Post Subject:
Most people get the systems because they want the systems...it's just an added bonus if you also get an HO discount.
Posted: Sat Oct 18, 2008 12:45 am Post Subject:
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.
Posted: Sat Oct 18, 2008 01:00 pm Post Subject:
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.
Posted: Fri Oct 17, 2008 06:24 am Post Subject:
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
Posted: Fri Oct 17, 2008 06:36 am Post Subject:
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 :)
ArindamSenIndies
Posted: Fri Oct 17, 2008 06:39 am Post Subject:
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 ;)
Posted: Fri Oct 17, 2008 10:25 am Post Subject:
Most carriers will give a discount for a home security system...I know I get 10% for the same.
Posted: Fri Oct 17, 2008 11:21 am Post Subject:
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.
Posted: Fri Oct 17, 2008 01:41 pm Post Subject:
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.
Posted: Fri Oct 17, 2008 10:39 pm Post Subject:
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.
Posted: Sat Oct 18, 2008 12:34 am Post Subject:
Most people get the systems because they want the systems...it's just an added bonus if you also get an HO discount.
Posted: Sat Oct 18, 2008 12:45 am Post Subject:
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.
Posted: Sat Oct 18, 2008 01:00 pm Post Subject:
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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