Will Security Cameras Lower My Insurance Premiums?

Clients frequently ask us whether security cameras in their buildings will reduce their insurance premiums.

Unfortunately, the answer is “no.” The sad fact is that too many business owners have tried to cut corners with fake security cameras, or by deactivating or failing to maintain operational cameras. (Don’t believe us? Try searching for “dummy,” “fake,” “simulated” or “decoy” security cameras. You can even find online tutorials for choosing the right one.)

These realistic props may well deter potential thieves from targeting your property, but they’ve also disqualified security cameras from insurance discounts. Sure, you might be doing everything right and recording 24/7 security footage—or hiring a security company to provide round-the-clock monitoring. But an insurance provider can’t confirm that the equipment or contract remains in effect.

That said, the right insurance partner can help you qualify for the best possible premium rates. Before renewing your insurance policy, talk with your agent about any improvements you’ve made to the building. Your insurance provider can tell you which upgrades can help you lower your rates, as well as recommend other ways to improve your overall building profile.

Find the Right Policy with the Right Insurance Partner

Your insurance agent should be an active advocate to help you find the right policy at the best value.

In addition to helping you evaluate changes to your property and understand the local real estate market, an insurance agent should also keep you informed of any new products that might serve your needs.

For instance, new programs are always entering the New York marketplace. We at City Building Owners Insurance routinely compare prices and coverages for our clients to see how they stack up against their current policies.

If you would like a free insurance review, or if you have any questions about your commercial property insurance, call us at 877-576-5200. You can also download our free insurance planner for more information.