Home security systems are smart investments in plenty of ways. They protect you from losing valuable items to thieves, keep your family safe from potential harm and provide peace of mind for years to come.
But they can also provide financial benefits, in the form of discounts on your homeowners insurance. Many major home insurance providers offer discounts when you provide proof of a security system.
It makes sense when you think about it. The insurance company is less likely to have to make a payout if your home is more secure, and you’ll still have the coverage you need if a dedicated thief breaks in.
However, not every security system comes with a discount. Insurance companies often test systems to make sure they’re up to snuff at protecting homes before providing discounts. You may also need to prove that they were installed properly or by a professional to ensure they’ll perform under pressure.
Some insurance providers even work with installers to give you discounts on the security systems in addition to the deductions that come with installation. Check with your agent for more details.
Another way to save a few bucks is through municipal incentive programs. Some cities provide rebates for securing homes. For example, Washington D.C. provides a rebate of up to $200 per exterior camera. Users have to register the camera with the police department, which can use the footage your camera captures to keep an eye on the neighborhood.
To learn more, read our review of the best home security cameras.