Do Security Cameras Equals Insurance Savings

Does better security really mean lower insurance costs and premiums?

You may be surprised with the short answer: Yes.

Not all insurance providers and not all systems will qualify for these discounts however it is very possible. If you are installing security systems, switching insurance providers, or looking at your first insurance provider, be sure to read on.

Why do Insurance Providers Offer these Discounts?

It may seem odd at first that these discounts exist, but the incentive is there with good reason and statistics backing them up. Insurance providers are encouraged to help protect your business safe – it avoids them giving pay-outs. When you reduce risk to your business, you reduce risk to them as well. Something like adding a security system makes your location more secure. If your location is more secure, it’s less likely to have issues; whether it’s burglary, shoplifting, vandalism or workplace theft, potential perpetrators will see cameras and think twice about committing the crime.

Your Insurance Provider

It is important to note again, not all insurance providers offer discounts for having security systems, cameras or access control installed. On that same note, some providers or certain industries require security systems in place before being eligible for coverage. Before you install a security system just for the insurance benefit, it pays to contact your insurer. If they don’t offer the discount, it may be time to shop around!

Using Footage To Prove Claims

The other reason you want cameras when it comes to insurance is for evidence. Only 13% of burglaries are ever solved. That’s a staggering number! By catching footage of the possible criminals, you boost your chances considerably. You don’t just need that footage for the police. That footage will make undeniable proof for your insurance company and yourself.

The Ideal Security Design For Insurance

So then what does your ideal business security system look like?

You should consider your environment, employee needs, requirement for your industry and call your insurance provider. Sometimes there are protocols to qualify for the discount. Security professionals can be of a great help at this point – while working to cover as much space ass possible, entrances & valuable areas can increase your likelihood of receiving a discount, there can be more deciding factors.

NTi Technologies proudly serves the Dallas Fort Worth metroplex, custom building security solutions to match your business needs, both for security and for your budget.

Learn more about our industry leading partners, Brivo & Eagle Eye Security or Contact NTi experts today!