Home video surveillance can reduce crime risk but may not help out in terms of insurance

Published: July 26, 2019

Updated: August 1, 2019

Author: Luke Jones

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Homeowners who installed a video camera as part of their home alarm system can help thwart would-be burglars. However, it is not clear if this is something home insurance companies specifically seek when assessing a policy.

“To my knowledge, the majority of property insurance policy applications do ask if there is a monitored alarm system,” said Pete Karageorgos, director of consumer and industry relations in Ontario for the Insurance Bureau of Canada.

While insurers ask for a monitored alarm system, this does not necessarily means a video surveillance presence, Karageorgos pointed out when speaking to Canadian Underwriter.

“The home alarms of yesteryear were just entry sensors – perhaps a door was broken into or a glass was broken. Now a lot of these security systems do include video monitoring.”

Still, installing a CCTV camera can certainly help reduce the risk of crime. Peel Regional Police said home video surveillance systems helped in a recent burglary investigate following a spate of break-and-enters in Mississauga which led to an arrest.

Police released images of the suspect, taken from CCTV camera installed at several homes that were targeted.

“It’s nice to see situations like this where technology benefits law enforcement in helping them track down and arrest someone breaking into people’s homes,” said Karageorgos. “There is some benefit to having from a safety and security standpoint.”

Auto insurance companies are required by regulations to keep statistics on claims arising from car theft. However, that is not the case in the home insurance market, so no industry-wide data is available on theft, according to the IBC.