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Will security cameras lower my home insurance rate?

April 27, 2015

Installing security features on your home can give you peace of mind and make a financial difference with your home insurance rate. Insurance companies may offer a discount to homeowners with qualifying security camera systems, and the installation of this security device can have indirect financial savings as well. Here are three ways installing security cameras can save you money:

Learn how installing cameras in your home can save you money.

1. Lower home insurance rates

Any measures you take to make your home safer can usually lead to lowered insurance rates, and security cameras are no exception. State Farms offers a 10 percent discount to those with cameras, and other companies may offer 15 to even 20 percent discounts, according to A Secure Life.

2. See the criminal

According to Safeguard the World, police are able to solve only 13 percent of reported burglaries because many times, there is no physical evidence or witness. Should a burglar enter your home, a security camera acts as an inanimate witness, supplying police with a description of the criminal and a visual play-by-play of the act. The added evidence gives detectives a better chance at finding the criminal and getting your belongings back. Plus, just seeing the security camera might be enough to scare a burglar away.

Security cameras can provide police with a physical description of the criminal. Security cameras can provide police with a physical description of the criminal.

3. Get alerts about other home risks

High-tech security systems are becoming more popular, and for good reason. Many security camera systems now include home automation services that will alert you if a threat is posed at your home, even noncriminal dangers. For example, some home automation features will increase the temperature of your home when freezing weather hits your area. With automated thermostat control, your house is protected from frozen pipes and the destruction that frequently occurs with it. Home safety features such as this will prevent damages that could raise home insurance rates, illustrating another indirect money-saving strategy.

Home security systems have their initial price, but they can end up reducing the cost of insurance in the long run. Homeowners not only see the benefit of financial savings, but they can also gain peace of mind with security cameras.