Things to Consider when Making Plans to Buy an Alarm System that Will Lower Insurance Costs
Check out what the insurance company considers acceptable fire suppression systems, and how much discount they will give you. Keep in mind that an alarm system is basically for providing peace of mind. The insurance company may have other considerations about a fire alarm system, such as their protection against possible losses for damages suffered by their policy holder.
Most insurance companies give minimal discounts for basic fire alarm systems, like the do-it-yourself types. However, since these systems require constant monitoring to check if they are properly working or in need of battery replacements, there are insurance companies that may not consider them eligible for cost reduction.
These insurance companies maintain that the adequacy of their protection for losses will still prevail; hence, the types of fire suppression systems they consider are those that are highly sophisticated. These are fire alarm systems that come complete with smoke detectors and fire sprinklers. The most eligible and highest discount earners are the types that are connected to the local fire department or to a third party whose business is to monitor fire alarm systems and who are probably affiliated with the sellers of these fire alarm devices.
In order to claim discounts or reductions on your home insurance costs, the insurance company will require proof of billing or contract from the third party monitoring unit. Be informed that these services entail additional fees, regardless of if they are provided by the public protection system or by private entities.
During the term of the insurance, it is also possible the insurance company will send an inspector to check your home to see if you are complying with the insurance agreements. The inspection includes a test check of your alarm system to see if it is in good working condition. Insurance companies which require that fire alarm systems are monitored by a third party, may also conduct inspections concerning the third party’s monitoring facility, equipment, ability, and compliance. These inspections include the local fire department unit, to check on how it effectively maintains the monitoring systems.