Survey Shows 10 Largest Home Insurers Offer Discounts for Burglar Alarms
Ten large home insurance companies are offering discounts to homeowners who install monitored security systems, says a new survey released by Electronic Security Association. The survey revealed these companies are offering premium discounts of up to 20 percent for homes equipped with burglar alarms.
Discounts Could Pay Portion of Installation Costs
As noted in a press release by Dom D’Ascoli, president of the Electronic Security Association, the 10 largest insurance companies reviewed offer significant enough homeowners insurance premium discounts to save policyholders up to 20 percent on their coverage.
This, he says, “can be substantial enough to pay a portion of the monitoring costs or installation of the system.”
The survey did not list the specific companies offering discounts, but according to the company, most people insured with large organizations–and some insured with smaller companies–have access to security system discounts.
Burglar Alarms Reduce the Need to File Insurance Claims
A study released by Dr. Simon Hakim of Temple University revealed single-family homes equipped with burglar alarm systems are 60 percent less likely to be burglarized than single homes without alarms.
This means that the need to file a home insurance claim is also going to decrease. And, of course, the fewer claims you file with your insurance company, the lower your premiums are likely to remain.
Since many home insurance companies are now offering discounts for burglar alarms, inquire with yours to see if you could receive up to 20 percent off of your premium amount. You’ll not only reduce the cost of your premium amount–or the system itself–you could also significantly reduce the chances of becoming the victim of a burglary.