Can a Security System Save You Money on Your Homeowner’s Insurance?

You might invest in a home security system because it gives you peace of mind to know that your family and possessions are safer. But did you know, you may also qualify for a discount on homeowner’s insurance for an alarm system?

If you’re thinking about buying a security system, here are some features to consider. Not all security features will qualify you for an insurance discount, but it’s always a good idea to connect with your insurance agent to find out what type of home insurance discount you may qualify for with a security system.

Outdoor Cameras

Cameras around your property can spot visitors, deliveries, vehicles and animals. Some can also tell the difference between these things and notify you only about those that matter. Be sure to choose a model that can withstand the weather where you live and gives you the video quality you need.

Doorbell Cameras

Like outdoor cameras, doorbell cameras can pick up activity near your home, like people walking by or mail deliveries. Factors to consider with a doorbell camera include how clear the image is (resolution), how well the camera works at night, how wide the field of view is and how good the audio is — you want to be able to talk through the camera to whoever is at the door. Of course, you will also want a strong Wi-Fi signal to stay connected with the doorbell camera. 

If you live on a busy street, you may want a camera that lets you set motion detection for a specific area. Otherwise, you could get a notification whenever someone drives or walks by.

Most of these cameras are accessed via a paired app on your smartphone. You’ll typically have the option to push notifications to your cell when motion is detected and save clips of footage. 

Indoor Cameras 

With an indoor camera, you can keep an eye on what’s happening inside your home when you’re away. You can choose models that pan, detect motion, include two-way audio and integrate with smart home systems. 

Indoor cameras raise privacy concerns, so you’ll probably want to buy one from a recognizable brand, change the default username and password and enable end-to-end encryption. 

Water Leak Detection

Water leaks can be expensive and disruptive to your day-to-day schedule. You may want to consider water leak sensors in all areas where there are drains or sources of water to prevent an unexpected disaster in your home. You can also go a step further and install water flow monitors that attach to your water meter and automatically shut off water when excessive or continuous flows of water are detected. 

Smoke and Carbon Monoxide Monitors

Smoke and carbon monoxide (CO) monitors are vital for every home. With interconnected alarms, if one alarm detects a problem, all the alarms sound an alert. That can save precious seconds if you need to evacuate. If your system is monitored by an outside service, it could mean a bigger discount on your homeowners insurance. Of course, be prepared to show the company your outside service agreement is still active. 

Smart smoke and carbon monoxide detectors notify you on your smartphone when something’s wrong even when you’re not at home, so you can take action.

Monitored Home Security System

You may consider leaving your security to professionals and hiring a service that monitors all doors and windows and alerts you when there is a disturbance or something wrong, such as a fire. Your insurance company will want to ensure the service is active when they consider applying a discount. 

Factors to Consider

As you’re shopping for home security devices, there are a few things to keep top of mind that may influence your decisions. 

Smartphone Apps

App support is an important part of a modern home security system — after all, you want to know what’s going on when you’re not there. You’ll want a system with good home security app connectivity, so you can see, hear and even reply to visitors in real time from your smartphone.

Storage

It can be helpful to have the ability to save footage. This way you can look back on specific times and dates or save clips to your phone or cloud storage. Keep in mind there may be an additional fee associated with storing footage.

You Could Save with a Protective Device Discount

Whether it’s a deadbolt and fire extinguisher to a full professional security system, a Farm Bureau insurance agent can review your homeowner’s insurance policy and let you know what discount you might qualify for with a home security system. They can also look over your coverage to make sure you’re protected and spot additional ways you might save money.