Is a Home Security System Really a Money Saving Tool?

What is the first thing you think of when you hear someone mention home security systems? Perhaps your first thought is protecting your home against burglary. Maybe you are thinking of smoke and CO alarms. But what about saving money? Is a home security system a money saving tool?

Vivint thinks so. As one of the nation’s leading home security and smart home providers, Vivint is convinced that homeowners can save money by installing state-of-the-art home security systems. I will not argue. Instead, it is better to look at the evidence in support of such a position.

What a Modern System Looks Like

The starting place is understanding what a modern home security system looks like. Fifty years ago, home security systems offered little more than window and door sensors along with a speaker capable of emitting a rather loud noise. All three components are still in use today. But modern home security systems offer so much more.

Modern systems come with better window and door sensors. They also offer glass break sensors, motion sensors, wireless cameras with tons of bells and whistles, integrated smoke and carbon monoxide detectors, flood sensors, and even medical alert devices.

Any homeowner wishing to go a step further can combine home security with smart home automation. Devices like smart thermostats and smart lighting make a home more efficient as well as a bit safer.

Saving on Homeowners Insurance

With the introductory principles out of the way, let us move on to savings. Home security events cost money. Insurance companies are aware of this, so they consider a home’s safety and security when determining premiums. The more risk a home presents, the more a homeowner pays for insurance. What if the homeowner can reduce his risks?

A home security system can reduce the risks associated with burglary, theft, flood, fire, and carbon monoxide leaks. Fewer risks mean lower insurance premiums. How much lower? Some estimates suggest discounts of 5-20% when a home security system is present. Saving 20% on a policy costing $2,000 annually translates to a healthy $400.

Reducing Theft Losses

Saving money on one’s homeowner’s insurance is a good starting point. But home security systems save money in other ways. For example, reducing theft reduces the amount of money a homeowner needs to spend to maintain his current lifestyle.

The idea here is to prevent theft by creating a deterrent. Home security systems, particularly those that are monitored and include video cameras, encourage burglars to choose another target. Home security deters burglars because it alerts local authorities more quickly and creates evidence that can be used for investigative and prosecutorial purposes.

When homeowners do not lose their belongings to burglars, they don’t have to spend money to replace those belongings. They also don’t have to spend on replacing broken windows, repairing damaged doors, and generally cleaning up a house that has been trashed by burglars.

Faster Emergency Response

Home security systems save money by paving the way for faster emergency response times. Consider a home with a security system equipped with flood sensors. In a flood prone area, such sensors can make all the difference in the world.

A homeowner at work when flood waters start to rise might get an alert on his phone. He can go home immediately to address the problem. By doing so, he might be able to ward off potential damage to his furnace, electrical system, furniture, etc. If he can keep most of the water out, he might even prevent structural damage to his home.

Likewise, home security systems equipped with smoke and carbon monoxide detectors provide the earliest possible warning of a potential emergency. The faster authorities are notified, the faster they can respond. And faster response times can limit the damage to some extent.

Lower Utility Bills

When home security is coupled with smart home automation, energy savings can be significant. Consider the following:

• Smart Thermostats – Smart thermostats allow for more efficient use of a home’s HVAC system. Through programming and AI, smart thermostats can reduce the amount of energy homeowners consume throughout the day. Less energy consumed means a lower utility build.

• Automated Lighting – Smart lighting can be automated for maximum efficiency. Making sure lights are off when they aren’t needed reduces the amount of electricity a home consumes.

• Automated Shades – Automating the shades in a modern home takes advantage of nature to both heat and cool. During the summer, automated shades are kept down during the heat of the day. During the winter, they are left up so sunlight can warm the home.

• Automated Irrigation – Homeowners who choose to utilize external irrigation can turn to home automation to maximize its efficiency. Lawns are only watered when it is necessary, and only for a limited amount of time. This leads to lower water bills unless money spent on keeping the lawn looking good.

Fairness dictates admitting that not every homeowner with a security system wants to embrace smart home technology. So where no smart home devices are installed, the extra savings aren’t realized. On the other hand, homeowners with both security and smart home equipment can maximize their savings.

The Best System for Saving Money

On its website, Vivint talks about how the best security system saves homeowner’s money. But what is the best system? How does a homeowner find it?

The best security system for any homeowner is the one that does exactly what the homeowner wants it to do at a price that fits into the family budget. Vivint customers might insist that their security systems are the best. But others would say the same about their own preferred brand.

Whether a homeowner purchases a professionally installed system, goes the DIY route, or builds a customized system from scratch, the simple practice of equipping a home with security and automation equipment leads to financial savings.

Safer homes are less prone to costly emergencies. And safer homes with built-in automation capabilities are less prone to energy wasting inefficiencies. That is the bottom line.