Your neighborhood watch program isn’t guaranteed to cut crime in your community, but if it does, that can lower insurance costs and raise property values. Some studies report a reduction in crime after a watch starts, while others found an increase, according to a study by the U.S. Department of Justice.
If your program does reduce crime, you’ll win in two ways: 1.) Your insurance rates could go down. Property insurance is all about risk. The higher the risk, the more you pay for insurance. Crime isn’t the only factor affecting your rates, but it plays a role. The more claims insurance companies have to pay crime victims in your neighborhood, the more they charge you for insurance premiums. 2.) Your property values could rise. Who doesn’t want to live in a safe neighborhood? Like insurance rates, home values are affected by more than just crime. But having a neighborhood watch certainly won’t hurt your values.A strong-knit community means people care, and that improves a neighborhood’s atmosphere, which can increase property values. (Houselogic 11/10/10).