Can Security Cameras Lower Your Home Insurance? Australian Guide

If you're considering installing security cameras or an alarm system, you might be wondering: will it reduce my home insurance premium? The short answer is yes - potentially by up to 25% with the right setup and insurer.

But not all security systems are treated equally by insurance companies. Here's what you need to know about maximising both your home security and your insurance savings.

How Much Can You Save?

The discount you receive depends on what security measures you have and which insurer you're with.

Typical Insurance Discounts

Key insight: The biggest discounts come from monitored systems - where a security company receives alerts and can respond or contact authorities. Cameras alone help, but adding professional monitoring significantly increases your discount.

Australian Insurers & Security Discounts

NRMA Insurance

NRMA offers some of the best security-related benefits:

Premium Discounts:

• Discounts available for homes with monitored alarm systems
• CCTV can be factored into quotes

Equipment Discounts:

• NRMA Insurance Rewards members get 25% off Bosch home alarm systems
• Up to 20% off Uniarch CCTV surveillance systems
• Available for new and existing customers

Monitoring Partnership: NRMA partners with security providers for home CCTV surveillance monitoring.

RAC (Western Australia)

RAC offers significant savings for members:

• 25% off contents insurance when your alarm is monitored by RAC
• Covers both alarm systems and CCTV cameras
• Members can claim up to $400 towards security system purchases (Seniors Card holders)
• 15% off alarm and security camera systems

RACQ (Queensland)

• Up to 10% discount for 24/7 monitored alarm systems
• System must be professionally monitored to qualify

Other Insurers

Youi: At Youi, standard CCTV cameras may not affect your premium. Only certain alarm types (like monitored back-to-base alarms) are considered when calculating premiums.

Budget Direct, Allianz, Suncorp: Most major insurers offer some form of discount for security systems, but policies vary. Always ask specifically about security discounts when getting quotes.

What Qualifies for a Discount?

Not every security camera or alarm will qualify. Here's what insurers typically look for:

For Maximum Discount

Monitored Alarm System:

• Connected to a professional monitoring centre
• 24/7 monitoring with response protocols
• Regular testing and maintenance
• Certificate of compliance

CCTV System:

• Professionally installed
• Recording capability (not just live view)
• Adequate coverage of entry points
• Maintained in working order

Combined System:

• Integrated cameras and alarm
• Single app or monitoring platform
• Automatic alerts and responses

What Usually Doesn't Count

• Unmonitored basic alarms
• Self-monitored cameras (Ring, Arlo, etc.) - varies by insurer
• Systems not in working order
• Cameras that don't record

The Real Value: Claims Prevention

Beyond premium discounts, security systems provide significant value through:

Deterrence

Visible cameras and alarm signage deter most opportunistic criminals. Studies show homes without security systems are up to 300% more likely to be targeted.

Evidence Collection

If a break-in occurs, quality CCTV footage:

• Helps identify offenders
• Speeds up insurance claims
• Provides evidence for police
• Can lead to recovery of stolen items

Reduced Claims

Insurers offer discounts because secured homes have fewer claims. This benefits everyone through lower premiums across the board.

Our Recommended Security Setup

For maximum protection and maximum insurance benefit, we recommend:

The Complete Package

1. Dahua AI Security Cameras (from $2,200)

• 4+ cameras covering all access points
• AI-powered human/vehicle detection
• Full-colour night vision
• Active deterrence with lights and sirens
• Remote viewing via smartphone app
• Recorded footage stored locally

2. Bosch Hardwired Alarm System

• Bosch Solution 3000 or 6000 panel
• Door/window sensors on all entry points
• Motion detectors in key areas
• Control via keypad and smartphone app
• Ready for professional monitoring

3. Professional Monitoring (Optional)

• 24/7 back-to-base monitoring
• Immediate response to alarms
• Police/security dispatch
• Regular system checks

4. Smart Integration

• Smart video doorbell
• Smart locks on main entries
• All devices linked through one app
• Automated responses (e.g., cameras record when alarm triggers)

Total Investment

With a 20% insurance discount on a $2,000/year premium, you'd save $400 annually - paying back the investment over time while enjoying 24/7 protection.

How to Claim Your Insurance Discount

Step 1: Check Your Current Policy

Contact your insurer and ask:

• Do you offer discounts for security systems?
• What type of system qualifies?
• Is monitoring required for the discount?
• How much could I save?

Step 2: Get the Right System

Based on your insurer's requirements, install a qualifying system. Professional installation is usually required - DIY systems may not qualify.

Step 3: Notify Your Insurer

After installation:

• Contact your insurer to update your policy
• Provide details of the system installed
• You may need to provide:
  • Installer's details and licence
  • System specifications
  • Monitoring contract (if applicable)

Step 4: Maintain Your System

Keep your system in working order:

• Test alarms regularly
• Ensure cameras are recording
• Maintain monitoring subscription
• Fix any faults promptly

Your insurance discount may be void if the system isn't maintained.

Frequently Asked Questions

Do Ring or Arlo cameras qualify for insurance discounts?

It depends on the insurer. Consumer-grade self-monitored systems like Ring and Arlo may not qualify for discounts with some insurers. Professionally installed, recording CCTV systems are more likely to qualify. Always check with your specific insurer.

Is monitoring worth the ongoing cost?

For insurance purposes, yes - monitored systems qualify for the largest discounts (15-25% vs 5-10% unmonitored). The monitoring cost ($30-50/month) may be offset by insurance savings plus the added security of professional response.

Will my premium go down immediately?

Once you notify your insurer and they update your policy, the discount should apply to your next renewal or immediately if mid-policy adjustments are allowed.

What if I rent my home?

Renters can still install portable security systems and may qualify for contents insurance discounts. For hardwired systems, you'll need landlord approval.

Do I need to provide proof of installation?

Some insurers require:

• Invoice/receipt from installer
• Photos of installed system
• Monitoring contract details
• Installer's licence number

We provide all documentation needed for insurance purposes with every installation.

Flexible Payment Options

Don't let upfront costs prevent you from protecting your home. Power Amp Electrical offers interest-free finance through Brighte for security system installations.

• 0% interest payment plans
• Terms from 6 months to 5 years
• Quick online approval
• No deposit required

A complete $4,000 camera and alarm package could be just $77/week over 12 months - with no interest. Combined with insurance savings, the effective cost is even lower.

Get Protected and Start Saving

Power Amp Electrical installs professional security systems across Western Melbourne and Geelong. Our systems are designed to:

• Protect your home and family
• Qualify for maximum insurance discounts
• Provide ongoing remote support
• Integrate with smart home features

What we install:

• Dahua AI security cameras (from $2,200 for 4 cameras)
• Bosch hardwired alarm systems
• Smart video doorbells
• Smart locks
• Complete integrated systems

Our service includes:

• Free security assessment
• Custom system design
• Professional installation
• Documentation for insurance
• Remote programming and support

Ready to improve your security and reduce your insurance?

Call Josh on 0473 344 634 or request a free security assessment.

We'll assess your property, recommend the right system, and help you maximise both protection and insurance benefits.

Power Amp Electrical is a licensed electrical contractor serving Western Melbourne and Geelong. We recommend contacting your insurance provider directly to confirm specific discount policies and requirements.