If you haven’t yet invested in a home security system to keep your family and property safe, consider these additional benefits: a lower cost for your homeowner’s insurance, and a lower risk for you.
Lower your insurance costs
Many insurance companies will decrease your homeowner’s insurance premium if you have a professionally installed and monitored home security system. (And by that I mean the real deal, not a Doberman.)
If your insurance is part of your monthly mortgage payment, as it is for many of us, you might not feel the difference a few dollars can make. But consider the math: If you save $20 per month,* that’s $240 per year, and over the course of a 30-year mortgage, that’s $7,200! In an age when it seems like everything costs something, saving a few dollars here and there always helps, and those savings can add up.
An added bonus: It could be the money you save on your insurance that will pay for the cost of the home security system!
Lower your risk
You might save in other ways too: Having a home security system means a decreased chance of a burglary, and that saves you from trauma, replacement costs, and the time you’d spend dealing with the aftermath of such a crime.
Having a home security system doesn’t guarantee your home won’t be burgled, but it definitely decreases your risk, and the statistics prove it: Homes without security systems are three times more likely to be broken into, and 90% of burglars say they avoid homes with obvious security systems. And let’s face it: The peace of mind that comes from having a home security system is priceless. You simply can’t put a dollar value on feeling safe.
Insure yourself with an inventory
To get even more from your homeowner’s insurance, be sure to inventory your valuables. Burglars most often go for jewelry, electronics, clothing and tools (which is a good reason to lock your shop!). Inventory what might get stolen and have some kind of documentation of your ownership and their value on the off chance that your home security system wasn’t deterrent enough and you’re robbed. Consider taking photos of everything of value too. This kind of recordkeeping can go a long way towards making sure you’re compensated accurately by your insurance company.
That said, your insurance company knows your chances of a break in are dramatically reduced by a home security system. That’s why many give you a break on your premium. You’re a lower risk and a safer bet. You might forget to lock your front door when you make a quick run to the grocery store, but that sticker in the window and sign on the lawn might do the trick to keep your house safe just the same…plus add a little extra money to your checking account each month.
*This dollar amount is for illustrative purposes only. To find out how much money you might save, talk to your insurance agent.