Decrease Your Insurance Costs
Home Security can Increase Your Home’s Value and Decrease Your Insurance Costs
If you want to have a higher value home and decrease your insurance cost, there are a number of things you can do. One of the most commonly used ways to facilitate both of these things is through home security. Many companies give insurance discounts if you have a security system or related features in your home, and a lot of homes that have these features are also valued more highly for purposes of ownership and resale. But what kinds of home security features are the most important, and what do they offer in the way of value and savings? Those are important questions that you’ll need to ask yourself before you proceed, so you can get the right system and take full advantage of the value and savings associated with it.
Talking With Your Insurance Company is Important
Before you focus on any particular type of security features, talk to your insurance company. Ask them what kinds of discounts they offer, and how much. That way you’ll know if you want a full system with motion sensors, or you’d prefer to put up a few small cameras. Being able to turn lights on and off remotely and other features that work with a smartphone app may be considered security features by some insurance companies, as well. It’s always wise to check. That way you’ll know what is going to save you money and what isn’t, so you can potentially tailor what you purchase toward the maximum level of savings your insurance company offers. You can also check with other insurance companies, as they don’t always give the same discounts.
How Low Do You Want Your Costs To Be?
Because full home security systems aren’t free, you’ll want to determine how low you want your insurance costs to be and whether those lowered costs are worth the price of the security features. In short, are you going to get your money back, and how long is that going to take? If you’re careful about your financial considerations, you may find that small security features make more sense based on the discount you get for the money you’re spending. If you’re only out to lower your costs, you’ll want the highest level of features that get you the most discounts, but the money you spend on those features can take some time to recoup through the discounts you receive.
Take a Careful Look At the Value You’re Getting
The value of a security system can also affect the value of your house. Even inexpensive systems can raise a home’s value, simply because they provide a higher level of protection that insurance companies and others appreciate. The value you get may also matter more or less to you depending on what you’re trying to do with your home. If you just want to be more secure and have a house that’s worth more, that’s a little different from someone who wants to make sure they can get top dollar when they sell. If you’re considering selling your home, a security system can definitely add value. But get a system that’s going to work for the majority of buyers.
What Kind of Value Are You Looking For?
The value you want if you’re selling your home is different from the value you want if you’re keeping your home for years. That’s because living in a home with a very high value means paying a lot of money out in things like insurance and taxes. But when you’re about to sell you want the value to be as high as possible. The same may be true if you’re trying to refinance, especially if you want to pull equity from your home. Consider a whole-home security system, but also think carefully about motion sensors, cameras, and smartphone apps that will alert you if you aren’t at home. That can help you find the right fit based on the kind of value you’re looking for.
This is a guest post by JustinHavre.com