Are you worried about the safety and security of your home? Also, do you want to save money on the thing which you purchase to keep your home safe like home security and insurance? If the answer is yes then you are in right place. In this article, we will discuss how to get Home insurance discount for security system.
Why Home Insurance provider gives a discount on the policy?
First, home insurance providers are not doing any favor by providing discounts to folks who have home security or smart home devices. Home insurance companies are looking for ways to reduce loss ratio or in simple words, they don’t want to incur huge claims.
If your home is safe and secure then there are fewer chances of claims. To encourage this behavior Home insurance discount for security system or smart devices is provided by home insurance companies.
What are some of the devices which can help in protecting home and getting a discount?
Security Camera/ Smart doorbell
A security camera can help in monitoring and preventing theft. If something happens you can look at recording to identify the culprit. Nowadays smart cameras can detect movement and send you a picture on your phone.
A smart doorbell shows you the picture of the person ringing your doorbell.
Countries like Singapore use security cameras for 24/7 monitoring and you will not see much police on road due to this.
Imagine there are 2 houses close to each other. One has security cameras installed and others do not have any security device. If a thief has to break in which house do think will be selected for break-in?
Smart Door Lock
With a smart door lock, depending on model you can open your door via the keypad, your phone or by voice command. If used in the right way it brings convenience and safety to your home. Hacking a smart door lock is difficult but the same is true with regular lock.
You have to be careful who you share your smart door key with. The lock will alert you if someone is trying to tamper with it.
Sensors
There are a lot of sensors available in the market which can alert you based on motion, temperature, entry, etc.
Motion Sensor
This will detect any movement or disturbance in the area it is installed and send a signal to you or designated monitoring service.
Entry Sensors
These can be installed on any door or window and they will alert you if someone opens a door/window.
Water/Climate sensor
You can place this below water sources or basement and it will alert you in case of any water leakage. It can also alert you in case of any sudden change in temperature or humidity.
Water Leakage detector
For water leakage detection there are mainly 2 types of solutions available in the market.
1)Water flow detector
This connects with your water pipeline and monitors the inflow of water. It will send alert to you if there is any sudden change in flow, this may happen due to leakage or pipe breakage. You can turn the water flow on or off and prevent any water damage from happening.
One drawback of a water flow detector is that you need a professional to install it with your pipeline. Hence it is costly and time consuming compared to sensors.
2)Sensor
These sensors can be placed in the basement or places which may get water leakage. This sensor will intimate you about water leakage. It is easier to install and does not require a professional to install it with a pipeline like a water flow detector.
One drawback of the sensor is that it cannot stop the damage itself. Someone has to manually address water leakage.
Security System
A lot of companies are selling security systems which are basically a combination of these multiple home security devices. Generally, the security system comes with a hub and it will have a security camera and sensors connected with it.
You can use security systems to monitor your home. Most of the security system companies provide monitoring services where they monitor your home and intimate you in case of any issue. If you are not reachable then they connect with emergency services.
How to get Home insurance discount for security system?
- Get Home Security device:
The first step is to purchase one or multiple home security devices mentioned in this article. We at CoverClan.com can help you in getting a huge discount on home security devices based on our relationship with device manufacturers.
- Connect with your insurer or agent
The next step is to connect with your insurance provider or insurance agent and ask for a discount on your home insurance. If your current insurer does not provide discount for having home security then you can always find someone else who does. We at CoverClan.com can help you in the best deal on your insurance by shopping with multiple insurance carriers.
- Save up to 25% on home insurance
Generally, the insurance carrier will provide you somewhere around 5 -15% discount on your premium. If you have not shopped for insurance in the last few years then you may end up with up to 25% of overall savings.
Conclusion
Do Home Security Systems Help Save Money On Homeowners Insurance?
The answer is definitely. Since your house is much safer than other houses who don’t have home security, Home insurance companies reward you by providing discounts.
About CoverClan https://coverclan.com/
At Cover Clan Insurance, our mission is simple. Better home insurance paired with smarter technology to keep your family safer. We help you in getting discounts on smart devices that monitor your house and help in getting a discount on your home insurance.