How A Home Security System Can Help You With Your Home Insurance Claims
Having a home security system is extremely important when it comes to protecting your family and personal property.
But, did you know:
Only 17% of us homes have a security system, and less than 12% have an actual video surveillance system, this means that we are opening ourselves up to all types of trouble.
Not only can we avoid the trouble by just getting a system, but we can also help lower our overall out of pocket costs by owning one.
Today I am going to go over how you can use a home security system to help you with filing a claim with your home insurance company.
What Does It Mean To File A Claim
When you purchase homeowners insurance, you are seeking protection from what’s known as a “covered loss.”
“In Plain English” A covered loss is a loss that is covered by your insurance policy.
For instance, a Volcano eruption might be a covered loss, but not earthquakes.
When this covered loss happens, you will need to let the insurance company know you have suffered that loss and they will start to investigate your claim and payout based on the policy limits.
This is why it’s essential that you understand what your policy will cover.
So when you file a claim, you are merely letting your insurance company know that you suffered a loss that is covered and wants to get paid out on it.
The lower amount of claims you have the better, but if you have to file a claim, it’s great to have more proof than you need.
Footage of A Major Covered Loss Event
As this is being written, we see a tragedy in North Carolina, homes, and properties are being destroyed in the wake of this massive event that no one can predict.
Several people have lost their homes; however, for those that had security footage of their home stored in the cloud, it’s going to be a bit easier filing a claim as well as getting paid out on the claim faster.
The payout is always going to based on the way your policy is set up so it’s imperative that you learn the basics of what your homeowners insurance may cover.
Each policy is going to function differently so be prepared to read and do your research and be sure to purchase a home security system that has video attached if you can.
Fewer Claims Filed For Theft & Property Damage
Two of the largest areas that claims are filed in is Theft and Property Damage.
It’s important to understand that the least amount of claims you make, the better.
Statistics show that when you don’t have a security system, burglars are 300% more likely to come after you for robbery.
And let’s not even forget about the videos on the news showing people stealing our Amazon packages right from our front door.
The more systems that we have in place for security the less likely we are going to have to file a claim.
There is a system that Insurers turn to called the Comprehensive Loss Underwriting Exchange to chart your claim behavior.
CLUE, as it’s commonly referred to, is a collection of all the personal auto and personal property claims you’ve made over the last seven years.
The more you are on this list; the higher your premiums are going to be for coverage.
If we can avoid filing claims about Theft or property damage, because we have security we are saving ourselves headaches and lots of money.
In conclusion, if you ever have to file a claim, it’s always best to have some backup, and there is no better backup than a great security system.
We sometimes think of security for only one use, but it’s time we opened up how we use our home security systems.
If you don’t have a system, you need to buy one today and start protecting your family.