Can Improving Home Security Reduce Insurance Premiums?

House key on keychainPeace of mind. It’s something homeowners enjoy and cherish, being able to sit inside a warm house on a stormy night. However, this peace can be shattered by many events, from fires to floods. And while these examples mindlessly consume both home and its possessions, there are also more intelligent, targeted, and higher-occurring threats to your home in the form of residential burglaries. In 2015 there were 365,000 residential fires in the US. There were 8.6 million home burglaries over the same time in the United States.

Protection Equals Less Risk

Your home should be a safe place, and like with many forms of protection, the best is preventative, not reactive. This is more than just security against lost items, big-ticket goods like expensive electronics or precious jewelry, it’s about having that peace of mind that people with bad intentions cannot enter your home. Below are a few ways of securing your home, to prevent break-ins and even dissuade them before they even get to your door.

Improved Locks, Doors and Windows

Denying someone entrance into your home is the first and best defense for a break-in. Making sure the locks on your home aren’t only strong, but smart is the best defense. If you’re thinking about upgrade locks, doors, and windows, look at not only strength but also things that make them easy to lock (or lock automatically). After all, an unlocked lock can’t keep you safe.

Electronic Security System

Many modern homes come with electronic security systems for good reason. Not only will they scare off anyone who triggers them (and call for assistance from law enforcement), but their very presence – usually marked by a lawn sign or window sticker – acts as a deterrent to those inspecting the house.

Installing Security Cameras

As part of the above security system or a standalone, having external and internal cameras can provide deterrence, evidence, and peace of mind. Being able to provide video of a break-in can help apprehension, allow you to check on your home when you’re away, and even provide monitoring of third parties in your home such as cleaning staff and babysitters.

Less Risk Equals Lower Premiums

As a significant risk to your home and possessions covered by your homeowner’s insurance, if you can reduce the chance of a break-in, you can also reduce the cost of coverage to your home. Talk to your homeowners’ insurance provider about what they suggest and if they have any preferred brands or services. However, it’s important to not only have these systems but also use them. Make sure to lock doors and arm security systems, as not using your security can affect your insurance premiums after a break-in.

Want to learn more about how homeowners insurance works and reductions you can get on premiums for it? Contact the TJ Woods Insurance Agency. We have a long history of supporting the residential and commercial industries of Worcester and beyond. If you have questions, we’ve got solutions: both over the phone and cataloged in our Learning Library and whitepapers.