One principle we’ve stated over and over again is that the cost of homeowners insurance is based off of your perceived risk of filing a claim. Simply put: people who are more likely to file an insurance claim will pay more for their home insurance premium than people who are less likely. If you’re unhappy with the amount you pay for your home insurance premium, it’s possible to take steps to reduce it – in during the course of your current policy.
According to the FBI, a burglary occurs in the United States once every 15 seconds, and homes without security systems are burglarized three times more often than homes that have them. When you install a monitored home security system, the likelihood of being burglarized immediately drops – and your homeowners insurance premium should, too. As a matter of fact, the Insurance Information Institute has studied insurance premium discounts among people with home security systems and their data has shown that it’s possible to get as much as a 15% to 20% reduction in your premium by installing one.
Is a Home Security System Right for You?
Admittedly, an argument can be made that any home that isn’t protected by a monitored security system should have one; especially by the home security industry! In reality, whether or not you can truly benefit from a monitored home security system will take a bit of thought. People who tend to fill their homes with more expensive items including furniture, electronics, or artwork, and as well as those who keep particularly valuable items like jewelry or expensive collections, will likely benefit more from a home security system than someone who buys low-end or even middle-of-the-road merchandise. It all depends on what you have to lose, and whether or not it would be less expensive to replace stolen items yourself instead of filing an insurance claim.