Home Security Systems Discounts That Save You Money

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As the cost of home insurance rises, many homeowners are using discounts to reduce their monthly bills. Most insurance companies offer significant discounts if you install a monitored alarm system. Smoke detectors, carbon monoxide alarms and water sensors often offer additional discounts.

Homeowner’s Security Insurance Discounts

Insurance companies know that an alarm system reduces your chances of experiencing a break-in. A study carried out by the Alarm Industry Research and Education Foundation found that having an alarm reduces the chance of burglary by 67 percent and lowers the reported losses from theft by 39 percent. Less theft means fewer claims, so most companies give discounts if you install an alarm system.

According to a survey of the top 10 insurers by Rutgers University, the average homeowner saves up to 20 percent in security systems discounts. Protection 1 only installs systems that are monitored by UL-listed equipment, lowering your odds of theft even further and potentially increasing the savings.

Savings From Smoke Alarms

Fire damage claims are extremely costly for insurance companies. Most companies offer a discount if you install smoke detectors, taking off an average of 5 percent from your premium, according to the Insurance Information Institute. Protection 1 offers monitored smoke alarms as part of your security system, which notify your local monitoring station of an alarm if you are unable to respond, ensuring that action is taken even when you are not home.

Savings From Carbon Monoxide Detectors and Water Sensors

Many insurance companies offer additional significant discounts for installing carbon monoxide alarms and water sensors, which detect leaks and flooding when installed in areas such as the basement or laundry room. According to the personal finance website BankRate, expect savings between 5 to 10 percent for installing these additional sensors.

SafetyNet Deductible Reimbursement Program

Many policies have a deductible amount before coverage kicks in. Protection 1 helps bridge this gap with the SafetyNet Deductible Reimbursement Program. In the event that you suffer a loss because of burglary or fire while being monitored by Protection 1, the program reimburses your paid homeowner’s insurance deductible up to $1,000 for burglary losses and an additional $1,000 for fire losses.

Home security discounts are among the biggest deductions available from most insurance companies, saving you up to 20 percent off your policy. Smoke alarms, carbon monoxide detectors and water sensors earn extra discounts, with additional savings as high as 15 percent. Together, these discounts can significantly reduce your insurance bills. Ask your insurance agent about the discounts available for your plan.

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