3 Ways Having A Security System Can Actually Save You Money

Posted on: 20 December 2016

Putting in a home security system is a great investment for every home. Many people wonder if putting in a system is worth the initial cost and upkeep. In the majority of cases, it is definitely worth the cost. Here are some ways you can actually save money by having a security system.

1. Discount In Home Insurance

One thing that many people do not know is that when you install a home security system your homeowners insurance will actually discount your policy. This is because you having a home security system actually saves them money. When your home is vandalized you can file a claim through your insurance to help pay for the damage and lost items. Thus, the more secure your property, the less likely you are to have your property vandalize, which means you won't file the claim, so the insurance company saves money. Just make sure that when you install the security system you contact your insurance provider right away. The discount varies depending on what you installed, and they won't know you put a system in without you reporting it.

2. Save On Insurance Premiums Each Month

Assume that you didn't have a security system and your house was broken into. Once you file the claim with your insurance, they are likely to raise your premiums. This means that not only do you not get the discount on your premiums, but you also are going to be penalized by filing an insurance claim by your premiums going up. On the other hand, although you might be spending money to upkeep a security system, at least you are putting that money into protecting your home, rather than putting more into insurance for the same amount of coverage.

3. Not Having To Replace Things

Lastly, if your house is broken into and things are stolen, you will have to replace them. Yes, your insurance will cover the majority of the losses, but you will have to pay a deductible, and there may be some items that the insurance policy doesn't cover. Especially things that are irreplaceable, such as family heirlooms, hard drives, and things that can't be replaced with money. Thus, it is infinitely better to prevent a break in by installing a security system rather than deal with all of the costs after the fact.

As you can see, there are many ways that you can actually protect your wallet by installing a residential security system.