The link between security companies and homeowners insurance
Home insurance is one of the four main forms of insurance along with car insurance, life insurance, and health insurance. If you’re a homeowner, then you must have probably subscribed to homeowners insurance right after purchasing your home.
Home insurance offers protection for a number of events such as fire, burglary, and others. Its cost is determined by the specific events that are included in the insurance contract, which means that the more comprehensive the coverage, the higher the premiums. In this article, we’ll discuss how private security can be used to lower those premiums.
Linking home insurance and private security
Why do insurance companies advise their policyholders to use private security services? Simply, because those services mitigate the risks featured with the insured properties. As you might know, burglary or fire events don’t discriminate and may happen at any given moment.
When you contact a home insurer because you seek coverage for your home, it takes into account a number of risk factors and calculates your insurance cost. Those risk factors are positively correlated to the premiums that you’ll be asked to pay each month. So if you show to your insurer that you have reduced one or more of your risk factors by hiring a security company, then your premiums will be cut to a certain extent.
What specific security services can reduce your premiums?
Security companies offer both armed and unarmed services. If for example, you live in a relatively safe area, then you may settle with a few cameras around your property. However, if you want a more comprehensive service, you may either hire a security guard or install sensors in your home. The sensors will be part of the 24-hour monitoring service offered by the security entity and send a signal to the remote security representatives whenever the presence of an intruder is detected.
Don’t wait until your home becomes the target of burglars to understand the importance of private security. The services that we provide are affordable and will help you save a lot on your annual home insurance fees. So contact us today to learn more about our products.
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.