In Ireland, homeowners have the facility to claim Insurance, if they experience a burglary at their home and if the burglar is successful to steal something, or damages any property or possession while escaping. But it is a typical scene that after going through the burglary, and getting the coverage, consumers have to pay an increased amount in insurance premium.
This can be a cumbersome situation for a homeowner who might be facing a drastic loss because of the burglary.
But there's a better way to control the risk of burglary, as well as having to pay a reduced insurance premium with residential security systems and house alarms in Cork.
First of all, burglars are prone to avoid secured homes with alarms or CCTV cameras. Secondly, you can save money on insurance premiums afterwards. Here’s how.
Why Insurance Companies Offer Discounts on Premium for Those Who Have Home Alarm Systems in Cork
The insurance premiums are calculated on the basis of your susceptibility towards burglary or theft. If your insurers see that you have adequate and comprehensive security systems, you are more likely to get a minimum 2% to 20% discount on your premiums post claiming the insurance for burglary. Always look through the insurance policies with such clauses, at the time of getting the insurance.
What Kind Of Security Systems Yield The Best Home Insurance Discount?
Insurance providers would rate the premiums based on the quotient of risk. With heightened risk, there is a greater chance the insurance company would have to pay out, that’s why they increase the premium rate.
Coming back to burglar alarms, or home security systems, since it minimises the risk of a theft or robbery, the insurer is most likely to curb the amount of premium, since it is unlikely and even more unfortunate that you face burglary despite investing in standard security systems.
The first reaction most people would have, after being robbed despite having home security amenities, would be “what a waste of money”!
Most systems of home security come with an ongoing cost, like that of a house alarm or CCTV camera in Cork
. You have to pay your Home Security Service provider and monitoring station, much like how broadband connection works.
The more features that your home security and surveillance systems have, you are most likely to get a reduction on your premiums, annually.
This cost is considered by insurance companies by giving you a discount on premiums that can be anywhere between 5% and 20%. It is rare that you can get more than this.
It is a smarter move to get house security systems based on your needs, and not by the influence of how it impacts your insurance premium rate. Today there are plenty of features that you get with both hardwired and wireless security devices, take the time to research what gives you the maximum value for money as a security measure because the average insurance premium goes around 10% and any returns more than that is realistically uncommon in Ireland.
Therefore, do your research before you spend your money.