Who doesn’t want extra money in their pockets at the end of every month and peace of mind when it comes to protecting our home? We have all been there, you are rushing out the door to get to work.  As you pull out of your driveway you start to do the mental checklist: kid check, phone check, lunch check, coffee.. ahhh yes… check!  Just as you are ready to start thinking about turning out of your neighborhood, you stop: did I lock the door…?  You are already late and to turn around would make you late for the third time in the last week, and you can’t lose your job.  You think, “I live in a good safe neighborhood, it will be ok and I am pretty sure I locked the door…” We have all been there.  

Nevertheless, it happens all too often – thieves break into homes and property is stolen! In the great state of Arizona from 2014-2018, Theft and Property claims accounted for 98.1% of all claims filed.  With the average theft claim coming in at $4391, this does not include credit card(s) that were stolen.  The average credit card, other* was $8273 during the same time frame, not to mention it is only increasing.  

*other: coverage for unauthorized use of various cards forgery, counterfeit money, and losses not otherwise classified. 

Currently the average annual homeowners insurance policy in Arizona with an insured value of $250,000 will run you about $1283, making your monthly total $107.   Insurance companies offer discounts in the form of credits or reduced premiums for home upgrades that help prevent claims. 

Should I have a Home Security System?

To professionally install a home security system in Arizona, it will cost you between $254 to $780 and could be less with a weekend DIY project.  The monthly monitoring service fees then run about $10 to $65 per month in AZ.  But, you could get a discount on your homeowners insurance! Plus, a larger discount is given when there is a third party monitoring your home.  Why the discount?  Having the home security system reduces risk of loss due to burglary and potential accidents.  The average discount for having a home security system is about 10% annually on your homeowners policy.  

When shopping for the right homeowners policy, remember any claim made on your policy carries over for the next 5 to 7 years, depending on the carrier.  This being said, a theft claim in the past 5 to 7 years could deny a proposal even being offered depending again on the carrier.  Doing the little extras will certainly end up paying off in the long run.  Besides knowing that your door is locked and your home is secured, this is one less thing on your checklist.

Contact Pinnacle Peak Insurance Group to find out what other discounts you can receive on your homeowners policy.