Discounted Insurance Premiums When A Home Has A Security System

Most households understand the risks brought about by snowstorms, floods and burglars. Ideally, they will invest in insurance products to protect them from any major losses. On the other hand, they can also install home alarm systems in Perth to deter burglars and criminals. Security systems can alert the homeowners and authorities if there are trespassers or intruders in the backyard.

There has been a substantial year-over-year growth in the number of connected homes in the United States. According to Bob Cummings, vice president and global head of insurance for SAF Financial Services Industries, more homes will be connected in the years to come. Smart home market was able to generate $18.87million in revenue for 2018. Household penetration is now 32% and expected to reach 53.1% by 2022.

Sensors in the homes and cars allow insurance companies to gain a real time pulse so that more accurate premiums rates are provided. In most cases, insurance providers work with security service vendors so that they can provide discounts to homes that have installed preventive connected devices. Sensor data can be efficiently connected to the homeowner’s insurer similar to the telematics devices in cars.

Because sensors have become popular in homes, the technology has significantly improved and prices of devices have drastically gone down making them more accessible to households. Advanced security systems can be purchased for a few hundred dollars; however, may people still prefer to subscribe to security services than undertaking the installation task on their own.

Aside from enhancing security in homes, connected sensors can mitigate the risks of flooding. Data gathered from a real time sensor using automated system can be analyzed so that residents can be immediately notified of the possibility of flooding. Sensor data will also allow authorities to notify people of weather alerts.

There are different types of home alarm systems in Perth but most of them usually create loud noise to alert the household that there is an intruder. Other systems are linked to monitoring centers so that authorities can investigate the reasons that triggered the alarm. The security system can also be connected to other home systems so that you will be notified when something wrong is happening in the home.