Will Renter’s Insurance Give a Discount if You Have a Security System?
Home invasions or burglaries are a threat to any household, regardless of where they are located. One of the biggest deterrents for burglars is a home security system that could record evidence of their actions or could notify the authorities at the time of a break-in. This is a huge motivator for homeowners when deciding whether they should invest in a home security system. But did you know that having a security system could ultimately save you money by reducing the cost of your renter’s insurance?
According to Alarm.com, there is one burglary every 13 seconds. While you may feel safe in your local area, insurance companies are aware of the possible risk in any town and can raise your insurance rates at any time. A break-in or burglary can be extremely expensive and take months to recover from the financial loss.
Inspecting Your Rental
As a renter, many of the elements of your lease are likely on your landlord or management company to ensure are carried out. If you notice upon further inspection that your locks are faulty or weak, or that certain windows do not lock correctly, you should bring that up to them immediately.
In cases where you choose to add on other security features to your home, you may need to discuss this with your landlord and make sure it is not in contradiction to anything in your lease agreement.
Some ways you can improve your home security include replacing door hinges, making sure your fire alarms are functioning, and replacing any alarms or detectors that may have expired.
How to Save on Renter’s Insurance
When you apply for renter’s insurance, your policy will be determined based on several factors. According to Policygenius, If your home has deadbolts, smart locks, burglar alarms, or a monitored system, you can save between 2 and 10 percent on premiums. Some insurance companies claim that they can save you up to 20% if you have a monitored security system in place.
Other potential discounts can come from your home insurance if you’re located in a gated community or with an HOA-enforced neighborhood security system.
To get a discount on your renter’s insurance or premiums, you will need to contact your insurance company directly and request a quote.
Why a Home Security System Matters
A home security system acts as both a deterrent for potential crime and to keep your home safe during an active home invasion. Only 17% of home break-ins occurred in a house that had a home security system, and homes without a security system are 300% more likely to be broken into.
Additionally, most security systems include fire safety devices that can quickly detect smoke or flames. Since fire damage amounts to over ten times the number of insurance claims for theft, this is a massive consideration for insurers. With fire and security devices in place, you are less likely to submit a claim for either of those events taking place.
Types of Home Security
There are many options for building a home security system that can be customized to your home, your preferences, and your needs. If you are interested in learning more about home security systems or residential fire systems, please contact our team of security experts at FSS Technologies.
Explore Our Other Blogs
Addressable vs. Conventional Fire Alarms
When determining what type of fire alarm systems are best for your business, it boils down to your choice between a conventional and addressable alarm system. The combination of smoke, heat, and carbon monoxide detectors work together with your control panel to keep your business safe. Additionally, you will need to determine what kind of automatic…
Why Fire Sprinkler, Extinguisher, and Backflow Inspections Matter
At FSS Technologies, we believe that safety isn’t a luxury—it’s a necessity. Our commercial fire protection services are designed to give your business peace of mind, knowing that your properties, people, and assets are secure and compliant with fire and life safety codes. We specialize in fire sprinkler systems, fire extinguishers, and backflow preventer inspections…
Will CCTV Work Without Internet?
Closed-circuit television (CCTV) is a TV system where the signal isn’t publicly broadcast but is watched and monitored, usually for surveillance and security purposes. From city streets and highways to retail stores and banks, CCTV cameras are placed in most places to protect property and deter crime. Learn whether a commercial CCTV system can work…
The Top 5 Reasons Why Your Smoke Alarm Is Beeping
Do you hear a faint chirping noise coming from the back hallway or the basement? Don’t ignore it. It might be your smoke detector. Smoke detectors are designed to chirp or beep when they need servicing. Common Reasons for Smoke Alarm to Beep When the battery in your smoke alarm is starting to get weak,…
Elements of a Business Security System
How can I secure my business? A business security system needs to protect people, property, and assets from theft, crime, and fire at all times of the day and night. The people walking in and out the doors of a business are not only its owners, but customers, employees, vendors, and suppliers who have varying…
How Fast Can Fire Spread?
What Is Fire? Fire is the result of a chemical reaction called oxidation. Oxidation is the combination of oxygen with another substance. In the case of a fire, the oxidation happens so quickly that light, heat, and sound are released. A fire needs oxygen, heat and fuel to burn. These factors are frequently referred to…
How to Make Your First-Floor Apartment Safe
In business, getting in on the ground floor is great. You are part of a plan early on to gain an advantage. When it comes to apartment-dwelling, however, getting in on the ground floor is only an advantage in some respects. It’s easier for you and your pets to get in an out, it’s easier…
How Commercial Security Monitoring Benefits Your Business During Quarantine
Instating work from home policies to protect your employees and help to stop the potential spread of COVID-19 is one step that organizations are taking to keep their company safe. But, with all your employees at home, how can you protect the other assets that make up your business? Regardless of the type of company…
Are You a Spectrum Customer Losing Service?
When Spectrum closed the doors on its home security system business in February 2020, many customers were left high and dry. The Spectrum Backstory Spectrum is a subsidiary of Charter Communications, the second-largest cable provider in the country offering service in 42 states. Charter inherited Spectrum in a 2016 merger with Time Warner Cable and Bright House…
How Burglars Break In and Where to Secure Your Home
When a burglar considers your home as a potential target, here are some of the things he or she is looking for. Easy Access An intruder doesn’t want to get caught and needs to have an easy escape. There’s not a more easily accessible entry point at your home than an unlocked door, and most…