Home alarm systems work to keep you and your family safe from potential threats, all while serving as a visual deterrent to thieves and vandals. A complete home alarm system is made up of different components which you can choose to include or leave out. If you purchase an approved system, you may even qualify for a reduction on your home insurance rates as you are statistically less likely to make a claim.

LMBF is here to lay out the components of a complete home alarm system, help you reduce the risk of a loss, and qualify you for potential home insurance discounts.

The Benefits of a Home Alarm System

Purchasing and installing a home security system is very similar to purchasing insurance in that it provides you and your family members with peace of mind. Crime rates can fluctuate, and even if we live in the safest of neighbourhoods within our cities, things happen. Here are the main benefits of having a home alarm system installed within your property:

• A visual deterrent to burglars and thieves – Some home alarm systems come with a sign indicating that the property is being protected or monitored. Thieves are much less likely to break-in if there’s a heightened risk of being caught.
• Protection against smoke, fire, CO, and flooding with monitoring, detection, and alarms.
• Energy savings to offset the costs of your security system. Some thermostats and Wi-Fi lights can automatically adjust themselves to reduce energy while the system is operational.
• Peace of mind – It’s a huge confidence booster, knowing you have a home alarm system installed that can protect you whether you’re away from home or even while you’re sleeping.
• Insurance discounts – Some insurance providers will discount your premiums up to 20% if you have an approved, professionally monitored home alarm system. Note that most providers will require your system to include a surveillance central, especially as most claims will be made while the homeowners are not around.

The Main Components of a Complete Home Alarm System

You don’t need to have every odd and end to make a complete home alarm system, but if you’re looking to qualify for an insurance discount then you may want to consider at least incorporating monitoring and surveillance systems. Discuss with your broker if you aren’t sure what systems may qualify for a reduction on your premiums.

The following components can help to upgrade your existing security measures and may improve your peace of mind, knowing that your family is safe and secure.

• Motion sensors – These are integral to any home security system. They can turn on outdoor lights, set off alarms, activate cameras, and so much more.
• Entryway detectors – Door and window detectors will set off a burglar alarm when a door or window is broken/entered through.
• Camera monitoring – Security cameras are used to record areas inside and outside of your home and may even be able to attach to your mobile devices. You can store footage and use it later to submit to your insurance company if there is a break-in.
• Smoke and CO detectors – Many homes have smoke detectors, but you can upgrade by purchasing smart detectors for both CO and smoke which will indicate what room the smoke and/or CO is coming from.
• Water leak detectors – Some advanced water leak detectors can actually shut off your water flow to prevent further disaster.
• Glass break detectors – These can detect the higher frequency that glass makes when it shatters and will trigger an alarm.

Do all home insurance companies discount home alarm systems?

Short answer: no, and there are some specifics you may be required to meet before your home alarm system is eligible for a discount. Most fire, water, and theft detection systems will need to include a surveillance central. Camera surveillance can also help when filing a claim.

Some popular anti-theft solutions that are dependent on Wi-Fi are typically not recognized by insurers and will not qualify for a discount as they can be severed from outside, preventing cops and fire department from being notified if there’s a break-in or disaster.

The insurance discount you may receive for installing these systems (so long as they have included monitoring and surveillance) may not offset the total cost, but it can help to significantly reduce the price you would ordinarily pay for these devices.

Curious about how purchasing and installing a home alarm system may reward you with possible discounts on your home insurance premiums?

Call your LMBF broker for more information. We can give you insights on possible offerings or preferred service providers.