Having a security alarm is welcomed by many insurance companies and could even save you money! The requirements vary from company to company, but I have compiled a few points from top insurance websites to give you a taste of what the majority ask for. To find out about your specific insurer and whether you are entitled to a reduction in insurance premiums it is a good idea to inform your insurer of your alarm systems specification.
Aviva
Aviva have a lot of information on their website regarding security systems. They say that finding an alarm company that will provide the right level of cover are “most easily established by selecting a company that holds a suitable external accreditation for their activities.” “ARMS (Aviva Risk Management Solutions) suggests that the best indicator of competence across all areas is companies having NSI or SSIAB approval.”
http://www.aviva.co.uk/risksolutions/help/faq/answer/1733/
http://www.aviva.co.uk/home/home-advice/article/guide-security-systems/
Confused.com
Confused.com have a list of ways to reduce your home insurance, No. 10 is:
“Install a burglar alarm. Burglar proofing your home could reduce your contents insurance premiums. Fit a burglar alarm or security system – preferably one that is NACOSS approved.”
There is also a full blog about the subject on their site here: http://www.confused.com/home-insurance/guides/saving-money-with-a-burglar-alarm
Direct Line
Direct Line also mention burglar alarms on their website, “Fit a good quality, approved alarm – look out for British Standard BS4737. Help reduce risk of theft from your home – and save on your home insurance too!”
http://www.directline.com/home-insurance/advice/burglary
Moneysupermarket.com
Again, in the “saving money” section:
“Secure your home – Insurers look favourably on customers who make their home secure because it reduces the likelihood of theft. A good tip is to install a burglar alarm. But not just any alarm. Most firms will insist on an approved system before they will consider cutting the cost of cover. The NACOSS standard alarm, for example, can reduce premiums in some cases by as much as 7.5%”
http://www.moneysupermarket.com/home-insurance/money-saving-tips/
Plenty to consider when you are thinking about your home or business security, it doesn’t have to cost you the world, and it could end up saving you money!
A similar blog can be found on the Keybury Fire and Security website with more information on the alarm systems and what level of security and accreditation insurance companies look for.
“It often pays to take precautions against a claim. High quality locks, burglar alarms, smoke alarms and membership of a Neighbourhood Watch scheme can all reduce your premiums.”
(Moneysupermarket.com)