Depending on your policy you may qualify for an insurance
discount of up to 20% when you have a monitored security system.
Reed Security protects a number of local insurance brokers
including The Co-operators, Cherry Insurance, Cooke Insurance and Saskatoon
Insurance Agencies. We contacted them for advice and we found the discounts vary
between insurance companies.
The main reason an insurance company provides a discount is
because it’s less likely you will have a claim. In fact, it’s 400% less likely to
have a break-in or major loss when have a monitored security system.
Sometimes the insurance discount can even pay for the entire
cost of your monthly security fees. If your home insurance policy is $1600/year
and you received a 20% discount, you would save $320/year on insurance costs.
If the monthly 24/7 monitoring fee you pay to your security provider is $21.95/month
(x 12 months = $263.40), then you would save $56.60 every year.
Some insurance companies provide a discount of 10% to 15% no
matter what 24/7 monitoring coverage you have. Other insurance companies will
provide additional discounts when you have monitored fire, flood and low temperature
protection. To determine exactly how much you can save please contact your
local insurance broker.
WARNING: If you cancel your 24/7 monitoring service with
your security company you should let your insurance broker know immediately. If
you were receiving an insurance discount based on lower risks – you don’t want
to run into any problems when you need to use your insurance. Security
companies provide records to investigators.
6 EASY STEPS TO GET YOUR INSURANCE DISCOUNT
1. Ask your Insurance Broker what discounts you are eligible for if you have a security system with 24/7 ULC Monitoring
2. Get 3 quotes from local security providers - ask your friends and check Google reviews
3. Make sure the security provider you choose has a ULC-listed Central Monitoring Station
4. Arrange to activate the security system and arrange an installation date
5. Your security provider issues a Certificate of Installation to you or your Insurance Company
6. The Insurance Company will provide any applicable discounts once they receive the Certificate of Installation
Not everyone will qualify for an insurance discount including most Businesses.
Even though you may be able to save money by installing a monitored home security system, it isn’t the main reason People install them. Installing a Reed Smart Security & Automation system helps you feel safe and keeps you connected to your home or business.
Alarm.com is super popular. It allows you to control your smart security system, smart locks, smart lights, smart thermostats and ReedHD™ cameras from your smartphone. Instant Email/Text notifications are a hit too. Alarm.com will let you know when your son or daughter arrives home after school. No phone line is required.
If you would like more information on Smart Home or Business Security & Automation please Contact Us for a Free Security Evaluation.
SASKATOON SECURITY INQUIRIES
Reed Security Headquarters
Call 306.653.3200 or 1.844.384.SAFE (7233)
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Fierce Electric Ltd.