There are many benefits to owning a home security system including protecting your home and family as well as having someone “watching” if there is an emergency. There are also many underlying benefits of owning a security system such as interactive/online features and live streaming video. However, there are also other benefits you may not have thought of. One of those is security system insurance benefits, or in other words discounts for owning a home security system. But how do you get these benefits and how should you go about getting them?
When your looking around at different wireless security systems (or whichever system you are looking in to) you will notice that there is an up-front cost and a monthly monitoring fee. Monthly monitoring is the service in which the proper authorities are notified if you have an intrusion, fire or medical emergency. Monitored security systems are the most common and most effective. Your insurance company loves monitored security systems.
The reason your insurance company loves monitored security systems is because it lets them know your home, the one they are insuring, is protected from possible intrusions and/or fires. Due to their affinity for security systems most insurance companies will give you security system insurance benefits, in other words a discount on your insurance. The discount often comes out of your insurance premium.
Most security system companies that offer monitored security systems will meet your insurance company’s standards. Most insurance companies just need proof that your security system is monitored by a central station. Proof? How do you get proof? Well you could bring your agent out to your house, but you don’t need to do all of that. After you have your security system installed and activated you normally just ask your security system company for a certificate that shows you are being monitored by said company. Then you hand this or send this over to your insurance company. This is pretty common and most security companies should know what you’retalking about.
Now that question is, how do you find out if the system you are looking in to will qualify for security system insurance benefits? This one’s pretty easy. First you will want to ask your insurance company if they have any specific requirements such as having monitored fire detectors or other things that may be associated. Most insurance companies just want your security system to be monitored in some regard, however, some insurance companies may give you a larger discount if you have more protection.
Next you’ll want to ask the security system company you are looking in to if their system meets the standards set by your insurance company. Again, most if not all security companies offering monitored security systems will meet such requirements. So it shouldn’t be too difficult finding a system you like that meets you and your insurance companies qualifications. In the end you shouldn’t base your decision solely on whether or not you’ll get a discount on your homeowners insurance but it is a nice perk. In fact, the discount you receive on your insurance premium can offset the cost of your monthly monitoring, or at least come close. In this case you are protected without actually paying more out of pocket expenses each month, which is always nice.
Like we said before installing a monitored security system has a lot of benefits and security system insurance benefits are just one of the many. Even if you already have a security system installed you can contact your insurance company to ask about possible discounts.