Last week, I was talking to an insurance agent. In our conversation, she reminded me why insurance agents love home security systems.
Insurance and Calculated Risks
Insurance is all about calculated risks. If you have a teenage driver in your home, you pay higher car insurance. Teenage driver are a greater risk for accidents. If you have a swimming pool in your backyard, you pay higher homeowner’s insurance because of the risks involved.
According to recent FBI statistics, a home is burglarized every 13 seconds in the United States. The National Fire Prevention Association said we had 370,000 residential fires in 2011 with $6.9 billion in damages. Home owner’s insurance premiums are based on these and other calculated risks.
Home Security Systems Reduce the Risks
I have seen national statistics that with a home security system you are 300% less likely to be burglarized. And while fires can still occur, home security warning systems and connections with local fire departments can mean far less damage from a fire.
With reduced risks, insurance agencies are willing to provide discounts on your home insurance. Depending upon your insurance company, you can get anywhere from 10%-20% discount on your homeowners insurance once you install a home security system. They may give you additional discounts for deadbolts and having a nonsmoking household.
Conclusion
If you have not done so recently, call your insurance agent and explore the discounts that maybe available to you with a home security system or other measures you can do to reduce your home owner’s insurance premiums. Remember, by reducing your homeowner risks, your insurance agent will love you and reward you! Want to learn more about the insurance and home security systems, go here for an insurance perspective.
If you want an estimate on how a Lloyd Home Security System can help reduce your insurance costs, give us a call, we can provide you with a professional analysis.