The Advantages of Home Security Systems

If you have recently installed a home security system, you might just qualify for a reward that you probably didn't expect. Some banks are now providing people with lower insurance premiums if they have home security systems installed. Specifically, Fidelity Bank is one such institution that has negotiated with insurance companies to create new insurance packages with cheaper rates. Homeowners might be able to get as much as 10 percent lower rates on their insurance premiums if they have lowered their risk for robberies by installing an alarm system. And, if you're also a customer of Fidelity Bank, you would receive a discount on the alarm system itself.

It's true that crime rates and break-ins are on the rise, and the bank wants to encourage people to install home security systems, realizing that this is a good way to help prevent losses due to burglary. One of the bank's employees stated that this is a way to prevent people from becoming victims, but also a way to cover them if such a thing did occur.

One expert praised the bank's efforts, stating that he was glad to see a financial institution that had chosen to reward those who take responsibility for their property by installing home security systems. Stuart Bostock of The Security Centre said, "We have been courting the insurance industry for many years now about offering discounted premiums to people who installed security systems but the sector has been reluctant to offer reductions to those home owners who have alarm systems and security precautions. It's fantastic that Fidelity is finally offering customers this option." It's unclear at this point whether Fidelity Bank is starting a trend that will encourage other banks to offer similar incentives for installing home security systems.

According to some experts, people who choose to install home security systems are four times less likely to experience a robbery.