Security System Lowers Premium

Answer:

Most, if not all, insurers will give you a discount on your homeowners policy premium if you install a home security system. The performance and sophistication of the typical home security system varies dramatically depending on what you buy and how much you spend.

Similarly, the premium discounts will vary too. Usually, insurers will give you a 5 percent discount merely for installing dead-bolt locks. A simple burglar alarm is likely to get you yet another 5 percent. If you decide to go with a more sophisticated home security system, complete with monitoring services, then you can expect a discount of up to 20 percent.

In addition to discounts for security devices, you can also get discounts for installing safety devices such as smoke detectors or sprinkler systems. Check with your insurance agent to make sure you are currently receiving any discounts you qualify for, and to see if you can save any more on premiums by installing additional security equipment.