Shop for home security and you soon run into a specific kind of guarantee in product descriptions or along with subscription bonuses — that home security gadgets can lower your homeowners insurance (the policies that cover fire, theft and similar events). Check with insurance companies like Progressive, State Farm or Allstate, and you’ll find it’s true. Home security tech can lower your insurance bills by 5% to 15% or more.
Since homeowners insurance in 2024 can cost over $100 per month (sometimes well over, depending on the state you live in), those discounts can save $10 to $20 per month. That’s nothing to ignore, especially since it can pay back the cost of a security system in a few years.
But there are a lot of home security gadgets: Which ones actually count as lowering your homeowners insurance and by how much? Let’s go through popular purchases to see if they qualify and how much they can save you.
A single device like a video doorbell or security camera?
Answer: Probably (2% to 5% discount)
Smart locks of the right caliber can help you save.
A smart lock makes managing access easier and fixes problems like forgetting to lock the front door. You can also create temporary passes for people rather than handing out precious physical home keys. Watch for homeowners insurance discounts like a smart deadbolt that includes a keypad, or smart locks on every external door in the house.
A full home security system?
Answer: Likely (5% to 15% discount)
Home security monitoring is most likely to net you with discounts.
A professional eye on your home can cost around $20 to $30 or even less per month and connects your system with a monitoring center that can watch for trouble and contact first responders even if you aren’t available. They may even be able to use audio or sirens to scare burglars away. SimpliSafe’s advanced system even recognizes friends from strangers to improve reactions.
Monitoring is an excellent way to mitigate damage from break-ins or fires, so they’re very likely to win some discounts from insurance companies.
Note: Insurance companies may offer different rebates for different kinds of monitoring. You may get one discount for burglar monitoring and a separate discount for professional fire alarm monitoring. Most professional monitoring services offer both in a combined package.
