Lowering Insurance with the Right Locks

Lowering Insurance with the Right Locks

Homeowners insurance is what some people consider a “necessary evil.” Having insurance is imperative for protecting personal belongings but an expense that no one wants to pay. Because you need insurance, it is important to consider a number of factors that can save you money.

Obviously, you want to shop around to find the right insurance company, but beyond that, you need to purchase the right type of policy. Typically, this type of insurance covers damage caused by most storms, fire, theft, and so on. However, homeowners insurance can also cover medical expenses if someone was injured in the home. Therefore, this is an extremely smart investment.

To have the coverage you need while spending less, you want to make sure that all discounts are being applied. The following are some of the ways that locks and other locksmith services can help. As an example, having a home security system will reduce the amount you pay on monthly insurance premiums, because it reduces the risk of vandalism, theft, and various other crimes. In fact, a home security system can result in a discount of as much as 15 percent off your homeowners insurance.

Security Locks

Another huge discount comes from having the right type of locks on your doors and windows. The exact type of lock and the insurance company will dictate the amount of discount. As imagined, the better the lock, the higher the level of protection and the greater the discount.

  • Mortice/Surface Deadlocks – These locks actually have one of two deadbolts designed with key cylinders on both the outside and inside of the door. For this, the lock can be installed in a cut-out cavity within the door edge or, in the case of a surface deadbolt, installed on the inside of the door’s surface just above the doorknob.
  • Dead Latches and Bolts – For added security and a better insurance discount, you can also install a dead latch or bolt in conjunction with a deadbolt. In this case, the latch is spring-operated and made to lock the door automatically, as opposed to deadbolts that require a key for locking and unlocking purposes from the outside or inside. Both dead latches and bolts are installed along with a pin and tumbler door knob lock found on most standard doors.

In addition to beefing up security on doors, many homeowner insurance policies offer discounts for window locks. For example, if you have sliding windows, you might consider window bolts or locks that are made to unlock and lock with a key. For sash-type windows, a keyed lock or key bolt can be installed at the central meeting rail of the two panes.

Having high-quality locks installed on doors and windows serves two purposes. First, the home is better secured against intruders; second, this means a nice discount from the insurance company. Keep in mind that every company is slightly different, so before investing in a security system or locks, it would be worthwhile to talk to an agent to determine the right choices.

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