5 Ways A Home Security System Can Lower Your Insurance

by | Nov 3, 2023 | Everyday Living, Featured Post

Homeowners Insurance

Savvy homeowners are always looking for opportunities to cut back on bills. The issue is that, as a homeowner, there are several bills that you can’t eliminate. Home insurance, for instance, is a required expense. So, the question becomes, if the home insurance bill can’t be eliminated, what can we do to lower its cost? For homeowners looking for robust and reliable solutions, CPI Home Security Systems are leading the industry in protection and innovation. Today, let’s delve into how a home security system can lower your home insurance premiums.  


What Factors Influence Home Insurance Costs? 


Before diving into how a home security system can help lower home insurance costs, let’s break down the key factors that determine how much home insurance costs. These factors include: 


  1. Location 
  2. Property Value 
  3. Construction Materials 
  4. Personal Claims History 


Location: Where your home is located can significantly determine what you pay for insurance. Properties located in high-risk areas, such as flood-prone areas or regions prone to natural disasters (earthquakes or hurricanes), may have higher insurance premiums. Likewise, homes in high-crime areas can also impact costs. 


Property Value: The value of your home, including its structure and contents, can affect insurance costs. Higher-value homes typically require more coverage, leading to higher premiums. 


Construction Materials: What your home is made of can affect insurance costs. Homes built with fire-resistant materials, such as brick or concrete, may result in lower premiums compared to homes constructed with wood. 


Personal Claims History: Your past claims history can affect your insurance costs. If you have a history of frequent or high-value claims, insurers may consider you a higher risk, resulting in higher premiums. 


Please note this is only part of the pricing picture. Factors can vary depending on your specific insurance provider and policy details. It’s always best to consult with an insurance agent to accurately assess your home insurance costs. 



5 Ways That a Home Security System Can Lower Your Home Insurance 


Lower Risk of Theft and Burglary 

The evidence is overwhelming: homes fortified with security systems consistently report reduced burglary rates (60% of burglars would opt not to break into a house with a home security system). Visible security elements, such as surveillance cameras and signs of alarm installations, serve as formidable deterrents to would-be intruders. This reduced risk of theft and burglary lowers the potential liability for insurance companies, which can result in lower premiums for homeowners. 


Rapid Response and Minimized Damages 

In an emergency (like a fire or flood), every second counts. Monitored security systems, with their ability to instantly notify authorities, ensure that help is on the way promptly. This limits the scope of damage and potentially prevents any further incidents. 


For insurance companies, this rapid response translates to fewer claims, which benefits both the homeowner and the insurer. This proactive security measure can lead to appreciable home security insurance discounts, with some insurers offering up to 15% reductions for monitored homes. 


Fire and Carbon Monoxide Detection 

Environmental hazards, like fires and gas leaks, can be just as devastating, if not more so, than theft. Modern security systems are equipped to detect these threats, ensuring prompt evacuation and response. 


These alarms protect lives and property and offer substantial savings in potential insurance claims from fire or CO-related damages. A home with these features can expect premium reductions, emphasizing the benefits of safety and protection. 


Smart Home Integration and Remote Monitoring 

Modern security extends beyond alarms and cameras. Integration with smart home technology means homeowners can remotely monitor and control their home’s security features, providing real-time surveillance and intervention capabilities. The integration of tech-driven security enhancements can lead to significant premium discounts. 


Insurance Discounts and Savings 

There are a ton of insurance discounts available to the savvy homeowner – but only if the insurance company is aware of your home security system. The opportunities are diverse, from reduced premiums for monitored homes to specific discounts for fire and CO alarm installations. While the exact savings depend on the insurer, proactive homeowners who leverage their security investments can expect appreciable premium reductions. 


The equation is simple: a home secured with a home security system will help to reduce your insurance premiums. The question is not if you should invest in a security system but how soon. As homeowners, the onus is on us to protect our sanctuary and ensure we’re reaping the financial benefits of our protective investment. 


Secure Your Home with CPI 


Ready to secure your home (and lower your home insurance in the process)? CPI’s Home Security Systems have protected American homeowners for over 30 years. To learn more about our security systems and our current specials, schedule a call with a trained CPI professional today. 

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