How Much Do You Save on Homeowners Insurance with an Alarm System?

When shopping for home insurance, you want the best coverage at the lowest possible rate. Many people are unaware that there are several discounts they may be eligible for which could reduce their premiums. One way to save on home insurance is by having an alarm system installed in your home.

In this article, we will take a look at the different types of home alarm systems and how much you may be able to save on your home, tenant or condo insurance rate.

Why Have an Alarm System?

With home invasions and break-ins on the rise, more and more individuals are installing a home security monitoring system. Depending on the type of protection the system provides, many insurance companies will offer a discount between 10%  to  20%  on your annual premiums. The most common types of home alarm systems are:

Local Alarm

These are standard burglary or smoke alarms that will set off a siren once activated, and some will also include lights that flash. These systems are not monitored, and authorities are not notified unless someone in the home, a neighbour or a passerby notices and contacts the local police or fire station.

Central Alarm

A central alarm system is monitored by an alarm company 24/7. When activated, their alarm monitoring personnel will call the phone number in their records and will  ask for a password to confirm if the alarm was accidentally triggered. If they do not receive a response or the password is incorrect, they will immediately contact the local authorities to investigate.

Internet Home Security Camera

These systems can be stand-alone, and some are also included as part of a central alarm package. With a home security camera, you can monitor your home from anywhere, provided you have an internet connection.

Which is the Best Burglar Alarm Insurance Discount?

Insurance companies prefer when a policyholder has a central alarm system in their home, and this type of burglar alarm will receive the highest applicable discount. That being said, insurance discount or not, it is always a good idea to have some type of home security system.

While local alarms may not provide much discount, they can save lives. If there ever is a carbon monoxide leak in your home or if a fire breaks out while your family is sleeping, these inexpensive alarms will immediately notify you of danger.

Having a camera system or central burglar alarm goes a long way in deterring potential break-ins and gives you peace of mind that you and your family will be safe during emergencies, which is priceless. Also, remember to check your batteries on a regular basis, as there is no point investing in an alarm system if the batteries don’t work. Checking batteries can be done every six months when we change our clocks to daylight saving time.

As insurance specialists since 1979, we know which companies can provide you the lowest rate with the best discount for having an alarm system at home. Choosing Bow Valley means that you get the best coverage available  at the most competitive price – we will even show you the rate comparisons.

To start saving on your insurance today, contact us for a free, no-obligation quote with one of our knowledgeable, experienced insurance specialists.