This question is sometimes posed to us by home and business owners, but before we tackle this question, we should look at some of the factors that go into an insurance premium – or even what an insurance premium is.
Insurance 101
Here’s insurance 101… Individuals purchase insurance on the premise that the insurance company will minimize risk, and make them whole should a covered loss occur. There are around 8 main factors that can affect your annual insurance premium.
These are:
- Weather preparations – Being ill-prepared for storms or high winds can often lead to higher premiums.
- Neighborhood crime – In areas where the crime rate is high, there is a correlation between higher insurance premiums and crime rate.
- Pets – There are some breeds that are considered aggressive, which can result in a higher premium.
- Bad credit score – Naturally, if you have a less than ideal credit rating, this can have an adverse effect on your premium.
- Location, location, location – As with Real Estate, Insurance companies will raise your rate should your property be found in areas where hurricanes are likely to make landfall, or in tornado alley.
- Fire concerns – If you are located too far away from a fire hydrant, or do not keep extinguishers on hand can cause a premium to go up.
- Poor maintenance – Home or business owners who do not do an adequate job of making necessary home repairs can find their premiums going up or being completely canceled.
- Claim frequency – Policyholders that make many claims can see a rise in the cost of insurance.
The Benefits of Security Shutters
Securing your property (whether commercial or residential) can, in fact, reduce your insurance premiums. Security measures that help to reduce or prevent the incidence of crime or property damage are viewed favorably by most insurance companies. In rare cases, the insurance company will decline to offer coverage to owners that do not provide sufficient evidence of preventative measures like security shutters, which are a proven method to reduce the incidence of crime, and property damage. This can lead to property owners facing major liability if anything should happen. In most cases, Insurers will actually reward their clients for investing in security shutters with ‘discounts’ in their annual rate.
Talius has been a provider of quality security shutters for over 30 years. We are an industry leader in the manufacturing and installation of security shutters, roller shutters, and Habitat Screens. Our products are designed and made to the highest standards to give our clients peace of mind from the elements and crimes of opportunity.
Contact Talius today for a quote here, or call us at 1 (800) 665 5550 with your questions.
