It’s been a tough few years for many Long Island families and their finances. The recession and Superstorm Sandy emptied residents’ pockets in a big way. With this level of financial hardship, it can be difficult to justify a large purchase, particularly if it seems even the least bit optional.
Some people use this line of thinking to dismiss buying a home security system. Little do they know, alarm systems can be reliable financial investment. Some systems cost very little – equipment and installation are often provided at no charge – and electronic monitoring by security professionals frequently doesn’t exceed much more than a dollar or two per day. Furthermore, a home security system reduces your chances of financial ruin due to flood, fire or break-ins.
A typical home security system will come with sensors that deter break-ins and other equipment that will alert authorities if your home experiences fire or flood. Break-ins alone cost theft victims an average of almost $2,000, according to the Federal Bureau of Investigation. Fire and flood won’t just damage your belongings, either. Frequently these events also cause significant harm to a home’s actual structure.
A home security system significantly lowers your chances of experiencing these mishaps. If you are victim to burglary, fire or flood, you have two options: Pay for the damage yourself or file an insurance claim. The first choice is quite expensive. Insurance coverage has costs as well. You’ll have to pay a deductible to file a claim and then your premium might go up afterward. And flooding from rising waters – such as lakes or rivers – isn’t covered by standard home insurance policies.
Consider buying a home security system for your home on Long Island. Depending on which provider you choose, you might get all basic sensors and other electronics at no charge, though you could pay extra for add-ons such as carbon monoxide and other monitoring. A professional might also install your system at no additional cost. Monitoring of your home probably won’t cost much more than $30 per month.
You can also receive great discounts, possibly as much as 10% off, on your home insurance premiums for having an alarm system. You’ll also reduce your chances of filing a claim. Insurance companies often worry that customers who file a claim are likely to do so again. It’s for this reason that carriers might charge you a higher rate after you file a claim. Finally, remember that one thing truly is priceless: knowing that your family has an extra layer of protection between them and outside dangers.
This article was contributed by Shannon Casey, writer for HomeInsurance.com. With a background in comedy and play writing, Shannon branched into blogging and marketing in 2011, writing for several national brands. She graduated from Hampshire College in Amherst, MA, in 2010 with a B.A. in Liberal Arts.
