Colter C. - Community Outreach Consultant
Insurance Premium Benefits
In recent years, an increase in gun violence and a growing desire to end the violence, without a solution, has led to negative public feelings regarding guns. Gun related crimes are more likely to occur in highly populated areas, thus allowing the perpetrator the ability to cause as much damage as possible.
Interpointe Apartment Complex (IAC), located at the far west side of Billings could benefit from the implementation of Shot Tracer. Over 1,500 people currently reside in the sevenbuilding campus. IAC is less than five years old and considered to be a middle to upper class income apartment complex.
Over the past five years, crime rates have steadily risen in Billings; everything from aggravated assault to larceny. From 2015 to 2016, Time magazine reports that gun related crimes have risen by 4,000 incidents, to a total of 38,000 incidents nationally, in 2016 (Gun- Related Deaths in America Keep Going Up, n.d.).
All buildings on the IAC campus are restricted to resident access only. In theory, this security feature eliminates the possibility of unauthorized personnel within the buildings. This not only provides a sense of security for residents, but also decreases IAC’s insurance premiums. Shot Tracer Technologies gunshot detection sensors have the same effect on insurance premiums. The institutions where these sensors have been installed, have seen a 10-15% decrease in their monthly premiums. This decrease would allow IAC to break even with the cost of the system within two years of installation. After this two-year period, the decreased insurance premiums would allow IAC to increase its profit margins through the reduction in monthly premiums and consistent tenant rental fees.
An instant benefit for IAC, upon installation of a Shot Tracer system, is the ability to market their facilities as being safer for residents. If correctly marketed and explained, an increase in monthly rental premiums could be successfully implemented. Many residents would accept a $10 to $20 a month increase in rent knowing a proven detection system was in place.
References: Gun-Related Deaths in America Keep Going Up. (n.d.). Retrieved from Time: http://time.com/5011599/gun-deaths-rate-america-cdc-data/