SHORT ANSWER: Yes, installing a burglar alarm can reduce your home insurance costs because it makes break-ins less likely.
Installing a burglar alarm system enhances your home security by deterring potential burglars and alerting you to security breaches as soon as they happen, providing you and your family with peace of mind – but that’s not all! Installing a high-quality, fully monitored alarm system can also lead to lower home insurance premiums, and in this blog we will explain why…
How do home insurance companies calculate premiums?
Paying for home insurance gives you financial protection against losses caused by natural disasters, fires, burglaries and other setbacks, so you really don’t want to chance going without it.
Insurance companies calculate your insurance premium based on risk. The greater the risk of an insurable incident occurring, the more you will be charged for your insurance. For example, if you live in a neighbourhood where there are lots of reported burglaries, or if your property would be easy for a burglar to access, your premium will be higher.
For this reason, it’s a good idea to take whatever steps you can to make burglaries and other incidents as unlikely as possible. Installing a burglar alarm system often leads to lower home insurance premiums, as insurers recognise alarms as an effective deterrent that reduces the risk of burglary and theft.
Does the type of burglar alarm make a difference?
Yes: in general, the more reliable the system is, the better the savings! A basic system with an external sounder may save you a little, but a state-of-the-art security system that's installed and maintained by professionals should give you a bigger discount on your insurance.
According to a report from the Association of British Insurers, having a burglar alarm system installed in your home could save you anywhere from 5% to 20% on your insurance premiums. However, you will want to check with your own insurer to see what discounts are available.
You will most likely need to give information on the system’s features, whether it will be monitored, and whether it complies with any British Standards. This should help to prove the system’s quality and reliability, helping you to secure a better deal on your home insurance.
Insurers may also require proof of installation and certification – so don’t forget to keep this information handy!
At IDS Security, we specialise in the design, installation and maintenance of high-quality intruder alarm systems. Our experienced engineers can visit your property and carry out a security survey, allowing us to design an intruder alarm system specifically suited to your requirements.
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