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
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…
Ins and Outs of Contract vs No Contract Security Systems
Many people see signing a long-term contract with a reputable alarm company as a stressful experience. In truth, contracts are in place to benefit both the alarm company and the homeowner. Developing a relationship and signing a long-term commitment to a security company allows you to get to know a team and benefit from the peace of mind that…
Code Requirements for Commercial Fire Alarms
The International Code Council The purpose of commercial property is for business or retail use, and the International Code Council (ICC) is a nonprofit association that develops model codes and standards used worldwide to construct safe, sustainable, affordable, and resilient structures. The fire codes vary depending on the type of business you run. For example,…
3 Types of Security Lights
Your security system is only useful if you can see what is going on when you can’t be there. This also means that when it gets dark, your cameras need to be able to capture the image clearly. To do this past dusk will require that you set up security lighting. Additionally, check out the…
Smart Home Technology for Aging Adults
Alzheimer’s Awareness Around 75% of seniors want to stay in their homes as they age, according to the American Association of Retired Persons (AARP), even if they need day-to-day assistance or have ongoing health issues like early-stage Alzheimer’s or dementia. According to the Alzheimer’s Association, 5.8 million Americans are living with the disease, and by…
Fire Systems for Commercial Properties
Commercial property management companies have portfolios varying in scale and specialty. Still, they all share the standard responsibility of understanding and implementing fire safety measures for their operations. Fires pose a significant but avoidable threat to your properties, occupants, and sources of revenue. While not all fires can be prevented, some can cause catastrophic damage…
How to Conduct a Physical Security Audit
Protecting your livelihood is at the top of every business owner’s mind, but how do you know if your business is truly protected? By performing a physical security audit, you can fully assess any threats that your business might be subject to and take the necessary steps to mitigate those threats. During a physical security audit, each aspect of the business and its security…
Where Should Fire Alarm Pull Stations Be Located?
While they generally go unnoticed until a moment of need, fire alarm pull stations are an integral part of a business or large residential building’s commercial fire system. What is a fire alarm pull station? As opposed to a smoke detector or sensor, human intervention activates a manual pull station and is the catalyst for setting…
What to Do if Someone Breaks into Your House
Arriving home to find that your home has been burglarized is one of the worst feelings someone can have. You’re left feeling raw, vulnerable, and angry. In this time of high stress, it may be hard to put your thoughts together to remember everything that now needs to be done. We have put together a list…
Security Integrations with Avigilon Alta
Security systems and integrations For business owners and managers, security systems are a key tool in protecting your customers, property, and commercial operations. There are several components to consider when working to create the best security system for your business, and there’s never a one-size-fits-all solution. A helpful approach to finding the best fit for…