How Can Security Cameras Help You Save Money on Home Insurance?
Sometimes, security systems can lower insurance premiums. In this blog, our Home Security Systems Sacramento company shares how security cameras can reduce home insurance.
Do Security Cameras Make Insurance More Expensive?
Indeed, the answer to whether security cameras would lower insurance may be yes or no. Our Home Security Systems Roseville explains that this is depending on a variety of criteria such as the security camera type, the insurance companies you choose, and so on.
Importantly, not all security measures result in cheaper house insurance rates. In fact, security cameras may qualify for home insurance reductions. This is dependent in part on the alarm systems you have installed.
However, a home insurer likes to see a well-thought-out and well-integrated security system. As follows, most insurers also require that the security cameras be connected to a central alarm station. They prefer that this provides professional monitoring. Additionally, our Home Security Systems Citrus Heights experts explain that this can dispatch first responders to limit your loss in the event of an emergency.
Importantly, some insurance providers may consider your home eligible for an insurance reduction. This is if you have professionally monitored burglar alarm systems and robust deadbolt locks.
Additionally, if your home or business is broken into, you’ll need to make a claim with your insurance company. Our friends at LMS Garage Doors, garage doors Sacramento, recently installed security cameras for their business. They explain that, in most cases, insurers will examine the damage to see if it was caused by a covered cause in your policy. If you have home security cameras installation, you can use them to establish that your claim is valid.
Why Do Home Security Cameras Lower Home Insurance?
Let’s face it: no businessperson would enter into a transaction that did not result in a profit. The insurers feel the same way. Simply because they are interested, they are willing to provide insurance savings for CCTV security cameras.
Homes without security or alarm systems are up to 300 percent more likely to be broken into, according to home security data. Break-ins and thefts are considerably reduced when professional alarm security systems are installed.
The lower the number of claims filed by homeowners, the higher the insurers’ profits, which is why security cameras are offered as a discount on home insurance. Installing security cameras and systems in your small business might also help you save money on insurance.
With the average cost of a slip-and-fall accident exceeding $22,000 per incident, consumers filing fake slip-and-fall scams might cost a company’s general liability insurance coverage thousands of dollars in claims.
As a result, several insurance firms provide small businesses liability insurance discounts for security and monitoring devices in order to prevent slip scams and save insurance costs.
How Much Does a Home Security System Save on Insurance?
The amount and quality of your security systems in place determine the specific security camera house insurance discount, which can range from 5% to 20%.
Aside from the security camera type, insurance companies consider other aspects when determining final security systems insurance rates. For example, the crime rate in your neighborhood, distance from fire hydrants and first responders, claims history in your area, and more. Simply, the safer your property is, the more likely you are to receive a low-cost security camera insurance quote.
Also, keep in mind that different insurance companies provide various home insurance discounts for security cameras and systems.
How to Get Security Camera Discounts on Business/Home Insurance
First, call your policy provider and advise them that you have security cameras in your home or company. Then, when you ask your insurance company if your security cameras might lower your premiums, they will need more info. In fact, they will usually need more information regarding your security cameras.
Of course, it’s worth noting that the amount of “evidence” required by different insurers varies. A bill of sale and the owner’s manual may be enough to qualify you for home insurance discounts.
Other insurance firms need a certificate confirming the presence of a security system before providing a security camera insurance discount.
You should expect to hear back from the audit department within a few days after submitting the necessary documentation in accordance with your carrier’s requirements. They will determine whether you are eligible for security camera insurance savings and provide you with rate quotes.
Takeaway
When it comes to what you are paying for your home insurance, the quality of the safety of your house is what can cause your insurance rates to increase or decrease.
Also, plan how to make your home safer so that way your insurance sees your home as less of a liability. Then, it’lll be seen as more of a safe place. Of course, investing in your home will only benefit you in the long run.
Contact Specialized Audio & Video Today for Any Security Needs
Finally, Specialized AV is here to specialize in any security needs you might have. Please contact our Sacramento team today with any other questions you may have.