Home Smart Home 3 Home Security Upgrades That Will Reduce Your Insurance Rates

3 Home Security Upgrades That Will Reduce Your Insurance Rates

by Geek Insider

When you upgrade your home’s security, you reduce the risk that your home will be broken into. Usually, your insurance company will reward you with reduced insurance premiums if your risk goes down.

So, if you want the cheapest home insurance rates, you’re going to want to read and implement the following home security strategies.

#1 – Install a Security Camera

There are several options for security cameras. Some of the most popular ones can be wired into your doorbell outlet. Alternatively, if you don’t have a hardwired doorbell, they can work independently using batteries and solar power.

These cameras alert homeowners to sensed movement. The homeowner can use the app on their smartphone to view the live video feed. They can also go back and watch clips of previous times the doorbell motion sensors were activated.

Besides a doorbell-style camera, you could also increase your home security with a thermal imaging camera and standard interior cameras. 

#2 – Get a Home Security System

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A complete home security system may include cameras, door sensors, and window sensors. In addition, they usually have an alarm system that requires the person coming into the home to enter a code to disable the alarm.

You can choose a self-monitored system, which is the cheaper option. The homeowner will need to purchase and install the equipment, but the operating costs are minimal after that. 

A professionally monitored system is more expensive because you have to pay a security company monthly premiums to monitor your home. But on the other hand, it’s less work for the homeowner, and professional systems tend to be more secure.

The link between home security systems and insurance doesn’t end at an insurance discount. Several insurance companies have officially partnered with security companies. So when you’re in the market for a home security system, find out if your home insurer has partnered with one or more security companies.

Depending on the insurance company, they may offer discounted or free hardware and installation or reduced premiums for the security monitoring. 

You’ll probably still get an insurance discount if you use a security company that’s not affiliated with your insurer. Still, it might be beneficial to tap into the other perks of using the security company your insurer chose to link up with.

#3 – Use Smart Home Devices

Threats to your home aren’t limited to the exterior. Your home is at risk from internal threats as well. From fire and carbon monoxide detectors to smart water shut-off valves, securing your home from within can usually help you qualify for an insurance discount.

Smart home devices and appliances are becoming more and more popular. Homeowners love being able to control their smart refrigerator, thermostat, and lighting from their phones.

Smart smoke detectors monitor themselves and send homeowners an alert when the battery needs to be replaced or if there’s anything else wrong with the system. They also often incorporate a carbon monoxide detector into the same device.

Smart water valves can prevent flooding due to a cracked pipe. These are especially helpful if you’re going to be away from your home for an extended period. 

Home insurance discounts for smart devices and security features are a nice perk, but the real benefit of home security is increased peace of mind knowing your home and family are safer and better protected.

Melanie Musson writes and researches for the insurance comparison site, USInsuranceAgents.com. She strives to help others understand their insurance needs so they can protect their financial stability both now and in the future. 

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