Educational Articles

Does a Smart Home Security System Help with Insurance Costs?

A home security system minimizes the risks of property theft and damage and is a good step toward ensuring your family’s safety from unknown events. Insurance companies recognize that security systems reduce the likelihood your home will be burglarized or suffer costly water or fire damage. Therefore, home security systems help lower home insurance costs. 


Add-ons reduce the rates:

Some smart home security features reduce your monthly insurance rate. Consider the following add-on features.

  • Smoke alarms and flood detectors that are connected to your security system help keep insurance costs down.  
  • Centrally monitored security systems (24/7) give immediate notifications if an alarm is triggered and the monitoring company contacts the authorities in serious situations. This level of coverage lets your family save money when insuring your home. 
  • Security cameras collect video footage that helps with theft or vandalism claims, expediting the process and helping catch offenders. Ask your insurance provider how much this feature can reduce your insurance rates. 


How much can you save?

Security systems help decrease the incidence of property damage and lower the risk of theft which can qualify homeowners for insurance discounts. The extent of the discount of your premiums will depend on the location of your home, the grade of your security features, and your chosen insurance provider. Discounts for traditional alarms range between 2 and 5%. An alarm system that is connected to a central monitoring system can save homeowners between 10% and 15% on insurance rates. A comprehensive home security system makes insurers feel more confident about your home safety and may reduce insurance premiums by as much as 20%. There’s no fixed equation on how each security feature will impact your home insurance rates so discuss your security system with your insurance broker and read your policies carefully.


Security systems do more than just protect your property. A home security system offers a reduction in insurance premiums along with a safer, more secure home. Ask your insurance provider which security system they recommend and enjoy discounts of up to 20%.


Want to reduce your home insurance premiums with a security system?  Interested in smart home automation? Contact SMART | Home Security. We’re a Calgary-based company partnering with TELUS, Canada’s leading provider of advanced home security systems. Call us at 587-800-1542. We’ll help you develop a customized home security plan.