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Surveillance equipment and insurance

Surveillance equipment plays a big part in keeping your property secure. Not only does it deter criminals, but it can also provide evidence in the case of a crime, help you avoid trip-and-fall lawsuits and improve the productivity of your employees. These aren’t the only benefits of security systems and cameras, however. In certain cases, they can even help lower your insurance rates. Here’s what you should know.


Understanding insurance rates

Though the rates you pay for your insurance can seem random, there is in fact a specific calculation that goes into deciding how much to charge you for the coverage required for your home and/or business.


Insurance companies decide how much to charge you based on how likely it is that you’ll need to make a claim. To determine this, they take into consideration certain risk factors including the number of claims made in the area, your personal information and other dynamics that are determined by the company.


For many insurers, one of these factors involves what security protections you have in place.


How does a security system help lower insurance rates?

Having surveillance cameras and a burglar alarm shows the insurer that you’re making an effort to protect your home or business.


Since statistics show that a building with visible camera or alarm systems are less likely to be burglarized, having this type of security in place at home or work makes you less of a risk in the eyes of the insurance companies.


Having a basic alarm system may earn you a modest decrease in your insurance rates, while more elaborate systems can save you much more. Every insurance provider will have its own specific security requirements that you must meet before they’ll offer you a discount.


For some insurers, simply having cameras is enough to earn a discount, while others may demand that your system be connected to a central alarm centre that monitors your property 24 hours a day, seven days a week. Others, however, may not offer any sort of discount for having a surveillance system. This discrepancy is why it’s important to shop around when buying insurance.


If your insurance company does offer reduced rates for surveillance equipment, they may require that it be installed and monitored by a professional security company like Guardian Security Solutions.


Surveillance equipment is always a good idea, especially if it can reduce your home or small business insurance rates. We offer a wide range of residential and commercial security solutions to fulfill your needs. Contact us today to find out more about our products and services.



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