Discount Home Insurance a Value-Add to a Home Security System
The demand for home security systems in Canada has never been higher. According to a 2016 nation-wide poll by Environic Research, 69% of Canadians believe a home security system would be a valuable addition to their home.
No longer is a security system deemed solely an accessory to deter criminal activity. The technological advances in home automated systems is remarkable. Most systems can now be controlled by your smartphone or tablet. Other features can include smart locks, ability to control your thermostat, open/close your garage door and numerous camera/recording abilities.
In essence, not only does a home security system provide you with peace of mind that your family and home is protected, but you can now control and monitor many areas of your home from your smartphone.
As a further value-add to your home security system, did you know a home security system also entitles you to a home insurance discount? By no means should this be the deciding factor in getting a home security system or not, but it’s nice to know there could be home insurance savings if you decide to re-shop your home policy.
Is there a set percentage or dollar amount for home insurance savings?
No.
Each company/provider offering home insurance will have data and metrics calculating the benefit, from an insurance perspective, as to the impact a security system has on their customers and how it affects the number of home insurance claims they process.
Home insurance prices also vary depending on where you live, how old your home is, the kind of coverages you’re wanting and your past claims history, amongst other things. When you consider these factors, it becomes easier to understand why there can’t be a flat monetary amount or percentage discount for having an alarm system.
That said, typically, a home security system can save you 5-15% on your home insurance policy.
The Surex Advantage
If you’ve recently added a security system to your home and you want to see how it affects your home insurance price, Surex will get you up to 10 quotes in five minutes.
As Canada’s fastest growing online insurance brokerage, Surex allows you to get quotes, verify your price with your personal broker, sign for your documents online through e-signature and have instant proof of insurance.
To get your online home insurance quote, you will need your basic home information. Please have ready your home’s square footage, the year the home was built and any information regarding upgrades and modifications.
