Posted October 3rd, 2014 by SimpliSafe

Having a home security system has its perks, the most obvious is that it provides safety and security for your home. But there are additional monetary perks you might not know about already, like major homeowners insurance discounts. You can get an discount of up to 20% off of your home insurance for having a monitored home security system. Here’s what you need to know about insurance discounts, finding your eligibility and claiming it so you can pay a little less for homeowners insurance.

Home Security Systems Provide Discounts on Home Insurance:

A survey conducted by the Electronic Security Association reviewed the largest 10 insurance companies in the nation and found that the average discount for owning a home security system is 20%.

The reasoning is obvious: if you’re monitoring and securing your home, your insurance company has less to worry about. Monitored security systems lessen the likelihood of your home being burglarized or damaged by water or fire. A study by Dr. Simon Hakim of Temple University shows that “an alarmed single family home is 60 percent less likely to be burglarized than a similar home without an alarm.” This reduces the chance you’ll have to file a claim with your insurance company. As this saves your insurance company money, they pass the savings onto you. Being a homeowner conscious of your own security plays into this as well – the insurance companies want the responsible consumer, so they’re going to entice you to stick around by giving you discounts.

What Can You Do to Get a Discount on Your Home Insurance?:

You’ll get even bigger discounts for installing monitored smoke detectors, as the Electronic Security Association shows that “fire and lightning claims are almost 10 times higher than claims for burglaries and thefts according to statistics from the Insurance Information Institute.” Having a security system that responds directly to the fire or police department saves you the most money (SimpliSafe’s monitored smoke detector will call first responders for you!). The amount you save from insurance discounts could cover all the costs for buying the system and parts in the first place.

How to Get the Best Discount on Your Insurance:

Some insurance companies give discounts only on specific home security systems, so it’s always best to do some of your own research or contact your insurance agent. To find out how to get discounts through your homeowners insurance, you can use a comparative tool online. This will save you time by showing the exact discounts side by side for what you are interested in. Keep in mind insurance companies also give discounts for having multiple policies through them, being claim-free for a certain period of time or having a certified “green” home by LEED organization.

After you compare insurance companies, talk to a few agents directly. They’ll be able to give you a more concise answer on exactly what discounts you may receive. Homeowners insurance is almost always linked directly with your mortgage, which means you may not even realize how big of a difference it will truly make to take the time to do your research and get the discount for owning a home security system.

Because SimpliSafe offers monitored home security service with no annual contract and no installation fees, now there’s even more incentive to get the homeowners insurance discount. Who knows? – maybe you’ll even make money off of keeping your home safe and sound.

Ready to start protecting your home and save thousands on your homeowners' insurance? Try SimpliSafe today!

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