When you see advertisements for home security gadgets, they often promise huge savings on your home insurance premiums. But do these devices really pay off? It depends.

How Much Do Security Systems Lower Your Home Insurance Rates?

You may see claims that home security systems can lower your home insurance rates up to 20 percent. Yet, this is not absolutely guaranteed to come to pass.

Remember that there are several factors that go into home insurance rates. Two neighbors who start with identical houses may get different quotes from different insurance companies. If two identical houses in two different neighborhoods are covered the same insurance company, one might get a discount and one might not. That's because insurance companies are also considering such factors as local crime rates and how much of your premium is allocated to the risk of burglaries.

Which Devices Provide the Biggest Discounts?

Insurance companies give discounts when they have data showing that specific devices lower their costs. That includes items such as burglar alarms, deadbolt locks, and guards for sliding glass doors. So, if your main goal is to cut your home insurance rates, you want to start with old-fashioned, low-tech devices.

This doesn't mean you have to skip the latest gadgets, though. For example, you might need to upgrade to deadbolt locks in your doors. Instead of getting a traditional deadbolt, you can get an electronic deadbolt you can operate with your phone. That will still give you the deadbolt lock discount.

Can Other Devices Get You Discounts?

Other gadgets may still help you save on your home insurance, even if they don't fall under the traditional major discounts. One example is doorbell cameras. These devices are popular in the news and social media, but insurance companies don't have a lot of data on them to make them a major factor when determining discounts. However, you might still find an insurance company that will offer you a discount for installing one. In addition, remember that you may see a premium increase after you make a claim, so anything you can do to reduce the chances of you needing to file a claim can help over the long run.

Call us today for more information about how to lower your home insurance rates.