How Can CCTV and Alarms Help Reduce Insurance Premiums?

Reduce House Insurance Premium Blog

One of the things we like to tell our clientele to do is ask their insurance company how much can be saved on their monthly or annual insurance premiums should their property feature a security and/or fire detection system. From an insurance company’s perspective, a property without any fire or security prevention measures taken to prevent fire or theft is a high risk one.

On the other hand, if you show the intent to better protect your property, then your insurance company will be able to put you in a lower risk band. The savings can be up to £20 a month in many cases – especially in areas where break-ins are common. A £20 reduction over 28 months is the cost of a high-tech wireless intruder alarm system.

After that, the savings made from the reduction in insurance premiums gives you more surplus cash to spend on other things while you have the peace of mind your property is protected.

Systems with a Mobile App Should Help Further Reduce Your Premiums

In nearly all cases with today’s modern security systems, when you have an alarm system or CCTV system installed, this comes with a mobile app. The insurance company will take this into account because it means you have technology that offers an immediate warning enabling a fast response once police or security services are notified.

Adding 24 Hour Surveillance or Police Response

By adding immediate police response services or by using the First Contact Fire and Security 24/7 monitoring team, your insurance premiums will further be reduced. For a business that has many high-value goods onsite, the reductions in premiums can be enormous.

We have seen this first hand after helping our clients install an all-around security system that included access control for the perimeter, CCTV for the entire building, as well as an alarm system. The client ended up reducing its insurance premium by 30%. The reason for this is that the company had been hit twice by professional thieves before deciding to install the security systems and contacting us here at First Contact Fire and Security.

Why Have Insurance Premiums Gone Up So Much Recently?

Over the last few years, we have seen a huge reduction in local police in many areas. The good old days of the bobby on the beat are far less than before, and the local policeman who lived in a house that was also the village police station is now long gone in most areas. This has negatively affected the police response rate to burglaries, warehouse break-ins, and incidents of vandalism.

As a result, insurance companies have had to consider their own risk when insuring a house that was once in a neighbourhood that had a local policeman. The police deterrent in many villages these days has disappeared, and so insurance companies are right to increase their premiums no matter how greedy we think they are.

Home and Businesses Are Now Taking Their Own Precautions

We are now all quite used to the way Britain’s police system works. Many of us have accepted or gotten used to the fact that the local police station or police house is now no longer there to protect us. Whether this has led to a rise in burglaries or not (an argument many are still debating) we still hear of neighbours being burgled while they are sleeping, at work, and most commonly when they are on holiday.

Businesses are also now increasingly being targeted by professional gangs of thieves more so than ever. Something we see all too often in the security systems business.

In almost all cases of break-ins, the reason the property was targeted was that there was no security system installed. Now, this is not scaremongering at all – these are true facts. We are often called out to provide people with our free quotation service after they have been a victim of crime.

As the police response, as well as their ability to solve these crimes, is becoming increasingly difficult due to police force reductions, many homes and businesses that are not protected are beginning to see the benefits of having a security system installed. Especially since without one, the price of their insurance premiums are so high that it makes financial sense to have a fire and security system installed.

Reduction in Car or Workman Insurance

Even car insurance premiums can be reduced in some cases where people have CCTV surveillance on their driveway. If you are a tradesman and have a work van, then simply adding a CCTV system that points at your work van will give your insurance company more incentive to offer you a lower premium. This is not to mention the fact that your van is less likely to be a target.

Why would thieves risk breaking into a van that is covered by CCTV? Hopefully, you also have an alarm system installed in the van. With these two deterrents, covering your tools and work van will be less costly than if you took the risk and let fate decide.

See our homepage for more information.

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