You might think that home security is only about “big” events like house fires or a full-blown break-in. But home security technology has an impact on the small things too, and implementing a new security system can save you a lot of money.
We’ve done the math, looked at cost estimates, and found out how much you can save by improving your home security on a daily basis or tweaking your system a little. Here’s our conclusion.
Discounts on home insurance
The Aqara Smart Lock latch replacement looks and feels great.
Cost: 300 to 500 US dollars
savings: 5% to 15% discount on homeowners insurance – about $7 to $20 savings per month
You’ll find lots of promises online about how much you can save on home insurance by having home security devices. We have more details here, but it really depends on whether your insurance company allows it and exactly what devices you have.
Insurance companies prefer a complete home security system that you can activate, preferably with smart locks and professional home monitoring. At the high end, you can save about 15% or even more. Since the average home insurance bill these days is about $150-$200 per month, this can add up to significant monthly savings.
Replace professional home surveillance with smart alarms
Gemini can create alerts about all sorts of things for compatible cameras like Nest devices.
Cost: $0 to $20 per month
savings: $20 to $50 per month
Professional home security monitoring can be expensive, with traditional plans often costing over $50 per month. But you don’t have to have to get home surveillance – if you’re willing to do it yourself. Many of today’s devices, like security cameras or DIY home security systems, allow you to upgrade to a lighter plan (or even no subscription) that includes smart alarms, person detection, live view, and two-way audio capabilities.
That’s enough to act as your own home monitor if you don’t mind checking your phone notifications. If you want to make it even easier, there are plans like Ring’s Protect Pro ($20) or Arlo’s Secure Plus ($18) or even Alexa emergency assistant ($6) allow you to contact emergency services immediately 24/7 via their apps, saving you time.
Stop leaks immediately with leak detectors
Leak detectors, especially battery models, can be used almost anywhere.
Cost: about 30 to 50 US dollars
savings: $200 to very high costs in case of accidents
Leak detectors work with many different home security systems and monitor for the presence of water or frost. You can place them near pipes, behind toilets, under sinks, and next to water heaters, where they will let you know if something is wrong in terms of leaks. You can shut off the water immediately and avoid stains, water damage, or even bad mold problems.
If a leak does occur, this detector can save a lot of money. Repairing water damage to the floor can start at around $200 and rise to thousands of dollars for large-scale leaks that go unnoticed for too long.
Connect a smart thermostat to your system
Smart thermostats simplify temperature control and thus lead to great savings.
Cost: About $300
savings: $50 per year
Many home security systems can integrate with third-party smart thermostats like those from Nest or Ecobee, or offer their own smart thermostats. These thermostats are easy to set up, controlled by app, and can be used with nearly any HVAC system. Thanks to their suggestions and automation, these thermostats are particularly efficient at keeping your home at the right temperature. How efficient? Energy Star estimates that a smart thermostat will save an average of $50 or more if you live in a more extreme climate.
Switch to smart lighting
Philips smart bulbs are quite affordable and can save money in the long run.
Cost: 10 to 20 USD per bulb
savings: $200 per year or more
Smart lighting uses LEDs and app scheduling to be incredibly efficient. Many work with home security systems, allowing you to set their timers, brightness, and other settings from the same place you arm your system. Smart LEDs are more affordable than ever, and the U.S. Department of Energy estimates that the average household can save about $225 per year by switching all lights to LEDs and taking advantage of product improvements in light scheduling.
Preventing porch piracy
Delivery boxes have some built-in tricks to deter package thieves.
Cost: 100 to 200 US dollars
savings: About $50 per package
Package thieves are more common than ever, and data shows that the average stolen package is worth between $50 and $100. That can add up if package thieves show up in your neighborhood every year around Christmas time. But there are ways to stop them. A video doorbell, which starts at around $50, can deter package thieves if they notice they’re being watched. Or you can opt for a complete package lockbox, which starts at $200, that makes it impossible for thieves to get to packages left at your home.
As a final stop before you leave, be sure to check out our guides on how to deter burglars, how to get cheaper security subscriptions, or what you need to know about smart home hacking.
