Security Tips-Home Insurance Discounts by Frank Fourchalk

If you have a home security system and you have not mentioned it to your insurance company, you may be losing out on substantial insurance discounts

Insurance companies may offer up to five per cent off your home insurance costs if you have installed a local alarm system, that is, an alarm that is not monitored

A discount of 10 to 15 per cent may be available if you have an alarm system connected to a central monitoring station.

If your alarm is monitored for burglary and fire, you could receive up to a 20 per cent discount on your home insurance.

It's always a good idea to ask about all the possible discounts for which you are eligible as a security conscious homeowner. Claim-free discounts of 10 to 15 per cent are offered to the homeowner who has not had a claim for three to five years.

This alone is reason enough to ensure your home is secured with the proper locks and an alarm system to prevent a break-in and to keep those discounts coming in.

Most insurance companies will pay up to $1000 total to replace or re-key the locks on your dwelling or automobile, including the ignition, if your keys are stolen.

However, the theft must be reported to the police or law enforcement agency that has jurisdiction at the location of the theft. This coverage is not usually subject to a deductible.

When purchasing a new home, it is imperative that you re-key your home before you start moving your belongings into the house. Key violation is an ongoing problem and the only way to prevent this is to change the keys.

You don't have to buy all new locks. A locksmith simply changes the existing combination of a cylinder or lock so that a different key can operate it. The old key is now inoperable and the cost for this service is minimal.

Seasonal dwellings are another area of importance. If you have a cottage or cabin, you should consider securing it as you would your year-round residence

It is a good idea to get into the habit of locking your home and always activating the alarm system, even if you are just going to the corner store for a few minutes.

Note: When purchasing insurance, use your zone identification number to confirm your block watch status and earn a discount of up to 10 per cent, in addition to the other discounts.

Note: When purchasing insurance, use your zone identification number to confirm your block watch status and earn a discount of up to 10 per cent, in addition to the other discounts.

Frank is the owner of White Rock Lock and Key and is a frequent contributor.