As a homeowner looking to buy home insurance, there are many ways you can explore to qualify for discounts on your policy and enjoy lower premiums and other benefits.
In this article, the experts at Beacon Point Insurance share insights on how taking security measures can help you qualify for home insurance discounts.
How Does Increasing Security Affect Home Insurance?
One main reason to purchase home insurance is to safeguard your home against fire accidents, theft, and vandalism.
When you go the extra mile to provide more security for your home by installing security systems like fire alarms and security cameras, insurance companies consider your home to be less vulnerable to risks and offer you lower insurance rates.
This means that beyond protecting your property and giving you peace of mind, taking extra security measures and installing security devices in your home can also help you save on home insurance.
What Insurance Benefits Can You Get When You Increase Your Home Security?
The benefits you will enjoy on your home insurance depend on the insurance company you work with and their discount policy.
Some insurance companies can offer discounts of about 2% to 5% on your premium when you inform them of your improved security. Some companies even offer up to 15% discounts when you install an advanced smart home security system in your home.
Basically, the discount you will get on your home insurance depends on various factors like the security improvement you made in your home, how well you can shop around, and the insurance company you choose.
What Are the Home Security Measures That Can Lower Your Insurance Premiums?
Some of the security measures you can take to enjoy discounts on your home insurance include the following:
1. Home Monitoring and Security System
Adding a monitoring system like surveillance cameras to your security system is a great way to prevent theft and keep your house more secure.
Some monitoring systems provide 24/7 surveillance, allowing you to monitor the activities going on in your house even when you are not there.
Remember to inform your insurance provider when you install security cameras in your home so they can educate you on the discount you qualify for.
2. Sprinkler System
A sprinkler system is one of the ways to quickly put out fire and prevent fire accidents in the home. So, installing sprinkler systems in your home can allow you to qualify for discounts from your home insurance provider.
Fire accidents can cause serious damage to your property, which will result in a heavy insurance claim. Most insurance companies recognize any efforts taken to prevent fire outbreaks in homes and usually compensate insured homeowners with discounts on their premiums.
3. Alarms
Installing burglar alarms that will go off when unauthorized movement is detected on your property is one way to get a discount on your home insurance premium.
Fire and smoke alarms can also qualify you for discounts since they contribute to your home security by alerting you when they detect danger.
4. Door Security
Improving your home security by installing extra locks on your doors can qualify you for insurance benefits since they will prevent burglars from gaining access into your home and lower your risk of theft and burglary.
Most insurance companies offer discounts when you install deadbolts on all your exterior doors. Some companies may insist that you include extra measures like smart locks with facial recognition and keypads to enjoy discounts in this category.
5. Gated Community
If you live in a gated area, you can qualify for discounts on your home insurance and enjoy lower premiums.
Even if the gate in your community is unmanned, it is still assumed that gated communities are less susceptible to theft, so insurance companies usually offer homeowners in such communities discounts on their home insurance policies.
Also, depending on your insurance provider, you may enjoy a higher discount if the gate in your community is more secure, with passkeys or 24/7 security patrols.
Are There Other Ways to Enjoy Insurance Discounts?
While improving your security is one way to enjoy insurance discounts, it is not the only way. Some other options you can explore to save money on home insurance premiums include the following:
1. Bundle Your Auto and Home Insurance
You can save a lot of money on insurance when you get your auto and home insurance from one company. Some insurance providers can offer you about 20% to 30% discount when you bundle your auto and home insurance together.
2. Increase Your Deductible
Deductible is the amount you pay out of your pocket before your insurance company starts to pay. The higher your deductible, the lower your premium. So, increasing your deductible can significantly reduce your premium and help you save on your home insurance.
3. Review Your Coverage
Reviewing your home insurance coverage regularly may be a good way to get discounts on your policy, especially if you do regular updates in your home. Inform your insurance provider of any recent upgrade or repairs you did and discuss how it can affect your insurance premium.
What is Auto Insurance and Why Is It Important?
Auto Insurance provides coverage for your vehicle. It covers you financially when your car gets involved in an accident, injures someone, or damages someone’s property.
Aside from the fact that it is compulsory by law, having an auto insurance policy is important as it saves you from liability when you injure someone and also covers the costs of repairing your car if you are ever involved in an accident.
Auto insurance also protects you when an uninsured driver hits you. This policy will pay for your car repair and your medical bill, saving you from incurring heavy, unexpected costs.
Choose the Best Home and Auto Insurance Company in Independence, Missouri
For increased peace of mind on your property, choose Beacon Point Insurance for your home and auto insurance in Missouri.
Beacon Point Insurance is a reputable insurance company in Independence, Missouri, committed to providing individuals and businesses with security and rest of mind over their lives and property.
Contact Beacon Point Insurance at 816-254-6100 or visit their website to inquire about their home and auto insurance policies.
