Will Renter’s Insurance Give a Discount if You Have a Security System?
Home invasions or burglaries are a threat to any household, regardless of where they are located. One of the biggest deterrents for burglars is a home security system that could record evidence of their actions or could notify the authorities at the time of a break-in. This is a huge motivator for homeowners when deciding whether they should invest in a home security system. But did you know that having a security system could ultimately save you money by reducing the cost of your renter’s insurance?
According to Alarm.com, there is one burglary every 13 seconds. While you may feel safe in your local area, insurance companies are aware of the possible risk in any town and can raise your insurance rates at any time. A break-in or burglary can be extremely expensive and take months to recover from the financial loss.
Inspecting Your Rental
As a renter, many of the elements of your lease are likely on your landlord or management company to ensure are carried out. If you notice upon further inspection that your locks are faulty or weak, or that certain windows do not lock correctly, you should bring that up to them immediately.
In cases where you choose to add on other security features to your home, you may need to discuss this with your landlord and make sure it is not in contradiction to anything in your lease agreement.
Some ways you can improve your home security include replacing door hinges, making sure your fire alarms are functioning, and replacing any alarms or detectors that may have expired.
How to Save on Renter’s Insurance
When you apply for renter’s insurance, your policy will be determined based on several factors. According to Policygenius, If your home has deadbolts, smart locks, burglar alarms, or a monitored system, you can save between 2 and 10 percent on premiums. Some insurance companies claim that they can save you up to 20% if you have a monitored security system in place.
Other potential discounts can come from your home insurance if you’re located in a gated community or with an HOA-enforced neighborhood security system.
To get a discount on your renter’s insurance or premiums, you will need to contact your insurance company directly and request a quote.
Why a Home Security System Matters
A home security system acts as both a deterrent for potential crime and to keep your home safe during an active home invasion. Only 17% of home break-ins occurred in a house that had a home security system, and homes without a security system are 300% more likely to be broken into.
Additionally, most security systems include fire safety devices that can quickly detect smoke or flames. Since fire damage amounts to over ten times the number of insurance claims for theft, this is a massive consideration for insurers. With fire and security devices in place, you are less likely to submit a claim for either of those events taking place.
Types of Home Security
There are many options for building a home security system that can be customized to your home, your preferences, and your needs. If you are interested in learning more about home security systems or residential fire systems, please contact our team of security experts at FSS Technologies.
Explore Our Other Blogs
Can I Install a Security System with Monitoring in my Apartment?
The most recent FBI data estimates that there are over 1.2 million burglaries a year, resulting in around $3.4 billion in property loss. Although property crime as a whole has been on the decline, the rise in popularity of video doorbells and more comprehensive and integrated home security systems shows that Americans are no less…
Choosing a Safe Neighborhood in Chicago
There are a lot of great places to live in Chicago. From the historic vibe of Printers Row to the ultra-stylish River North, there are neighborhoods to fit every personality. But are they safe? It turns out, many of them are. According to Niche.com—which ranks neighborhoods based on crime, schools, cost of living, etc.—the short commuting times…
Can Your CCTV and Access Control Systems be Integrated?
When setting up security for your business, you might consider adding CCTV and access control systems. These two security measures work great to deter crime on their own, and provide even greater security when integrated. This pairing has many advantages, but it is also a complex setup that may not be right for you. There…
Can You Get a Discount on Home Insurance if You Have a Security System?
Home invasions or burglaries are a threat to any household, regardless of where they are located. One of the biggest deterrents for burglars is a home security system that could record evidence of their actions or could notify the authorities at the time of a break-in. This is a huge motivator for homeowners when deciding…
Who Owns ADT Alarm Systems After Install?
You’ve paid to have an alarm system installed in your home. Do you own the equipment? Most likely, but not yet if you contracted with a big-box home security company like ADT. Payment Plans for Equipment Most people sign up on special offers in which they will pay an installation fee for the equipment, but…
What is the Lifespan of Smoke and Carbon Monoxide Detectors?
As with pretty much everything, your smoke alarm eventually expires. Sensors can become less sensitive over time, making them less adept at doing their job: detecting smoke, carbon monoxide, or potential fires. Replacing the equipment in your fire safety system is important both at home and in your business. We have developed a quick guide…
How Video Doorbells Work
A video doorbell is a system that allows you to see who is ringing your doorbell by way of a video connection. If your video doorbell has a two-way audio system, you also can talk to the person at the front door, whether you’re home or not. How you connect your system and how you…
7 Ways Home Monitoring Keeps Your Pets Safe
Your family’s safety is at the forefront of your mind when installing a security system, and that includes your pets as well. When researching a security product that suits your needs, consider the ways that this technology can help your pets stay safe too. We have detailed some of the most common hazards as well…
Best Security System Setups for Senior Citizens
According to the American Association of Retired Persons (AARP), nearly 90% of senior citizens want to stay in their homes as they age even if they need day-to-day assistance or have ongoing health issues like early-stage Alzheimer’s or dementia. Unfortunately, criminals often target senior citizens as victims. Thieves assume older people will not be able…
Why Fire Sprinkler, Extinguisher, and Backflow Inspections Matter
At FSS Technologies, we believe that safety isn’t a luxury—it’s a necessity. Our commercial fire protection services are designed to give your business peace of mind, knowing that your properties, people, and assets are secure and compliant with fire and life safety codes. We specialize in fire sprinkler systems, fire extinguishers, and backflow preventer inspections…