When it comes to paying premiums, having to pay the same high premium without a claim for several months may actually seem like a huge waste to many people, especially when it is a homeowner’s insurance premium that we are talking about. Fortunately, there are a few things that you can do to lower these premiums and save on the ownership costs. Typically, one of the things that many insurance companies offer a discount for is when you have a deadbolt lock installed in your home on the exterior doors.
Before installing a deadbolt lock and claiming a discount, it is crucial to first check whether your existing insurance provider offers this kind of discount on the insurance premium. If they don’t, you can still think about switching to another insurance provider who may be able to guarantee you a significant difference in the premium for installing deadbolt locks. Remember that all insurance providers do not reduce your insurance for installing deadbolt locks so you will have to check with alternate providers.
The next thing to do is to calculate and see if the difference between your existing premium and your reduced premium is worthy of installing deadbolt locks, from a long term perspective. Either way, deadbolt locks are most likely to reduce your insurance premiums. If you file a claim, your premium will still increase the following year.
Many insurance providers will need you to install deadbolt locks on all the exterior access doors you have in your home. Installing it just on the front door may not qualify for a premium reduction as the back door access will still be susceptible to burglary.
In most cases, if your home already has deadbolts installed, there is a chance that your existing premium may have been offered to you taking that information into account. This means that your insurance would have been probably higher without the deadbolts. If you further plan to lessen the insurance, you will have to get new deadbolt locks installed. Always check with your insurance provider if they will discount your premium further if you install new deadbolt locks before making the changes.
A deadbolt lock is a great investment not only from an insurance perspective but also as a safety measure. Deadbolt locks are pretty inexpensive and a quick way to improve the security of your home. Remember that even high-security systems can be breached if the intruder is smart enough. But picking a lock and a deadbolt requires a lot of time and effort and intruders certainly don’t have an abundance of both when they are breaking into a house. Deadbolt locks provide the simplest and most effective safety solution for your home, whilst reducing your insurance costs.
If you are thinking about installing a deadbolt lock for your home, call Ajax Locksmiths today. Our team will suggest the best option for you depending on your neighbourhood and the type of doors you have.