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How do Burglar Alarms Affect the Cost of Home Insurance?

How do Burglar Alarms Affect the Cost of Home Insurance?

May 27, 2024

Thinking about installing alarm systems and wondering if it might slash your insurance premiums? Some insurance companies do offer discounts if you have security alarms installed, but there’s no guarantee that it will definitely reduce the cost of your home insurance.

Depending on your chosen insurance company, they’ll ask what sort of security you have since it could affect your premium price.

Plus, even if your premium is discounted, the savings might not cover the cost of installing and maintaining your alarm.

But that shouldn’t stop you from having a security alarm system installed at your home—60% of burglars say that an alarm system would make them look for a different target altogether.

This deterrence alone should outweigh the possible monetary benefits you’d get in terms of your insurance premium. This should be the reason for getting an alarm system for your home—nothing is worth more than your safety and peace of mind.

Should I get a burglar alarm for my home?

A burglar alarm, especially one that’s easy to spot and linked to a security company, can really reduce the chances of your place getting targeted. 60% of the burglars said they’d scope out the target home to see if any home security systems were installed before they even thought about trying to lift something.

It’ll give you some extra peace of mind at home and might even add to the appeal if you ever decide to sell up.

Here’s why it’s a good idea:

  • Scare off the burglars: A visible alarm system can make potential thieves think twice about breaking in.
  • Save money: Preventing a break-in saves you a lot of cash on replacing stolen items, and it might keep your insurance premiums from going up.
  • Ease stress: Knowing your home is protected can make you feel more relaxed and secure, reducing your worries.

Do I have to inform my home insurance provider about my burglar alarm?

Yes, definitely! Inform your insurance company if you have any security systems, like a burglar alarm installed. They might even give you a discount since alarms are a great deterrent.

But only let them know if you’re actually using the alarm. If you say you’ve got one but never turn it on, your insurance claim for a break-in might be denied.

Burglar alarms and insurance discounts

Not every insurance company will slash the premium for having a house alarm, and the type you pick can impact whether you get the lower premiums. Before you buy a system, make sure to:

  • Talk to insurers: Have a discussion with your insurance company to see what their policy is about alarm systems and any discounts they might throw your way for installing them.
  • Look for certified companies: Some insurers might only give you a discount if your alarms are set up and maintained by a certified security company. Look for that when you’re choosing your system.

Setting up: DIY or professional installation?

Setting up a DIY alarm can be done, especially with wireless setups, but if you’re aiming for insurance discounts, call in the professionals. Getting it installed by a certified expert could be the ticket to those savings.

Also, keeping up with regular checks is a must to keep your system functioning (and to keep you eligible for the discount).

Wrapping it up

Getting a discount on your premium is a goal worth pursuing. But let’s face it: getting robbed is every homeowner’s nightmare. The right home security setup can prevent that from happening in the first place.

Don’t take chances with your home’s safety—deter any intruders with the right security setup. If you’re serious about your home’s safety, find more home security tips here.

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