Short answer: often, yes. Many homeowners insurance companies offer a discount when your home has a security system — especially one that's professionally monitored. But the size of the discount, and what qualifies, depends on your insurer and your policy.
Here's what New York homeowners in Binghamton and the Southern Tier should know before calling their agent.
Why insurers offer a discount
Insurance companies price your policy on risk. A monitored system lowers the odds of a costly claim in a few ways:
Burglary is less likely — and if it happens, help is dispatched faster
Fires are caught earlier, when smoke and heat detectors are monitored around the clock
Water damage is caught sooner — a flood sensor can flag a burst pipe before it soaks a basement
Less risk for the insurer can mean a lower premium for you.
How much can you save?
It varies a lot from company to company. The Insurance Information Institute has cited discounts of 15% to 20% for homes with sophisticated monitored systems, but many insurers offer less, and some offer nothing for a basic setup.
What usually earns a bigger discount:
Professional 24/7 monitoring rather than a local alarm that only makes noise
Fire and smoke monitoring in addition to burglary protection
Water and low-temperature sensors, which some insurers now recognize (more on these in Do I Need Freeze and Flood Monitoring for My Home in Upstate NY?)
Even a modest discount adds up. On a policy in the $1,000-a-year range, a 10% discount is $100 a year — which offsets a meaningful share of monitoring costs.
What your insurer will ask for
Most insurers want proof before they apply a discount. Typically that's an alarm certificate from your monitoring company showing:
Your name and the property address
That the system is professionally monitored by a central station
What the system covers (burglary, fire, water)
Some insurers only need a copy of your monitoring agreement. Others have their own form. Your agent can tell you exactly what they need.
How to claim the discount
Call your insurance agent and ask whether they offer a protective device or alarm discount, and how much it is.
Ask what qualifies. Find out if they treat burglary, fire and water monitoring differently.
Request the paperwork from your monitoring company.
Send it to your agent and confirm the discount shows up on your next renewal.
If you already have a monitored system and never told your insurer, it's worth a five-minute call.
Does a DIY system qualify?
Sometimes. Self-monitored systems — where alerts only go to your phone — often don't qualify, or qualify for less, because no one is guaranteed to respond. Some DIY brands offer professional monitoring plans that may qualify. Read more in Monitored vs. DIY Home Security: Which Is Right for a Binghamton Home?
Get a system that pays you back
Alert Alarms systems are monitored 24/7 by a UL Listed central station and can cover intrusion, smoke, carbon monoxide and flood detection. Ask us for the documentation your insurer needs when we install your system.
Schedule your free home security assessment or call 607-771-0598.
Want to know what a system costs first? Read How Much Does a Home Security System Cost in Binghamton?, or explore our home security systems.
