One can easily get confused when pricing a home security system. You would still wonder if the price you see on the home security service provider’s website is the actual amount you will pay.
The cost of home security systems is determined by the cost of the equipment, plan, setup, and so on. Equipment price is what constitutes the most cost for a home security system.
Endless monitoring services by professional, cloud storage for security cameras, and being able to use a mobile app from your security provider to control your home security systems may also be included in your monthly cost for home security.
Now, let us discuss the costs one by one and consider how the deals advertisedonline is cost-effective, as well as what to expect from your provider for your money.
The Average Cost of Home Security System
Home security systems cost an average between $250 and $1,500 and more. These costs include installation, equipment, as well as activation fees, and are charged one-time and upfront.
The first step is buying your security equipment. We recommend buying a monitored security system as it is generally the best way to protect your household. Monthly home security service costs an average of $30 and $360 annually.
Prices of monitoring can be as low as $9.99 per month and $120 annually for basic monitoring and over $100 monthly ($1,200/year) for premium monitoring services.
Important Costs of Home Security to keep in Mind
It will be so much worse to open your first bill and get surprised at unexpected charges on it. At that point, you lose all the feelings you had when you first sign-up, getting your home security experience ruined at the early stage.
This type of experience is avoidable by knowing each cost you may be charged. You will be able to avoid unnecessary charges by getting to know the following types of costs:
1. Security Equipment Costs
A huge part of your home security cost will be made up of the equipment, like motion sensors, security cameras, and doorbell cameras.
You can expect to pay $200 or more as upfront costs for equipment, but there are many discounts available with some providers that you could take advantage of to reduce the price.
The lease option for equipment may also be made available to you from your home security provider at a monthly fee.
You may require additional security cameras or sensors after installing your home security system, so you can keep an eye on blind spots that may be beyond reach.
You can get additional equipment at a fair rate from some home security providers if you’ve patronized them for home security systems. Else, including extra equipment, can be reasonably cheap.
Adding an indoor security camera can take away over $100 or an additional door sensor at about $30. Be sure to find out the number of home security devices that can be accommodated by each control panel or hub before you purchase more equipment.
In addition, be sure to ask about any extra fees like additional cloud storage for footage from a sea security camera you choose to install additional equipment.
If you don’t plan to buy the security gadget in advance, talk to the provider for leasing price and extra terms.
2. Activation Fees
One of the hidden fees that may not be revealed to you until you are already in the contract is an activation fee. Although this is charged one-time, it can cause a deep hole in your wallet.
Activation fees start from $0 to $199, and understanding it is a separate charge from the installation fee is very important.
You must ask and read the whole contract before attesting your signature so you can discover if there is an activation fee.
The majority of customer complaints stem from verbal agreements not being fulfilled because they are not indicated in the contract.
3. Installation Fees
Some security providers charge a different installation fee to install their security equipment in your household. In reality, professional installation is very important.
You can easily install your home security yourself due to modern security technology. We have compiled a list of home security companies that offer do-it-yourself security equipment in order for you to skip these fees.
4. Monitoring Monthly Costs
This monthly charge is applied for having your household monitored with no stopping by an external monitoring facility. The cost is charged based on your monitoring plan and the preferred equipment during registration.
Most security providers are very transparent with the pricing of their monitoring package. However, some of them offer a base rate for monitoring and modify it based on the chosen equipment you are monitoring.
For example, if your base rate in assumption is $42 per month, it can be increased by $15 per month if you include security cameras to your home security system.
Each smoke detector or carbon monoxide detector has extra charges tacked on it (usually about $2 for each smoke detector and $6 for each carbon monoxide detector).
This increases your monthly monitoring cost to $65.99 per month. Be sure to go through the contract to see if there are extra monthly costs apply to monitor the equipment you have chosen before you register.
How Security Providers are making Home Security Systems more Affordable
There are two major ways employed by home security companies to make security more affordable:
Reducing deposit for those who sign a contract: This option is very great if you need home security but can’t pay the huge advance cost. Advance costs include installation, equipment costs, and activation fees. Based on the company, installation or activation fee may be a requirement at sign up.
Offering do-it-yourself home alarm systems: Do-it-yourself systems are perfect for those who would like to pay more in advance costs, which generally allows for paying a small fee for monthly monitoring.
Some companies also offer no-contract DIY security systems for clients who bought their equipment in advance, however, before you pay any money, ask yourself if you need a home security system and if the protection you get will worth the costs. You might first have to look into how you can become a burglary victim before you can answer those questions.
Cost of not having a Home Security System?
It has been discovered by research that people enjoy peace of mind and lives when they are not into much stress. With a home security system, you will get more comfortable anywhere you go, whether on a date, on vacation, at work, or when sleeping at night.
In reality, it is easier to become a burglary victim more than before in today’s world. You may possibly face some kind of crime at your home, whether a simple package is missing or stolen or something more important.
How much could you possibly lose in a Burglary?
Anyone who has had their home burgled before understands there are more traumas to burglary than the monetary value of any item stolen.
However, if you want to estimate the cost-benefit of purchasing a home security system, you should first think of how much it would cost you to replace any item stolen from your home.
In 2014, the overall losses for burglary victims were $3.9 million, with $2,251 being the average. Generally, the value of your household possession may be more than that.
Create a time to list your valuable possessions, alongside an estimated value for each item. Burglars like to choose items that can be easily grabbed and carted away, such as firearms, cash, computers, televisions, and antiques. Well, this will not take your sentimental items like collectibles, heirlooms, and other stuff that cannot be easily replaced into consideration.
What is the Value of your Peace of Mind?
Your valuable items are not only protected by the best home security systems, but they also help protect you and your household members from burglars.
Only you can determine the value of your peace of mind, but you should endeavor to consider this when making your cost-benefit analysis.
Knowing more about Home Security Contracts
Your home security contract usually contains hidden fees and costs. Take time to read them and ask the security company to give an explanation of anything you are not clear of.
Consider the early fee for cancellation, the reconnection fees from relocating, or underrated terms for equipment leasing. Be sure to know the added monthly fees stated in the contract and any advance home security costs required during activation.
Below are some tips to remember when checking the contract for your home security system:
- Go through all equipment, cancellation, and service fees before you sign the contract. Do not sign the contract until you know the amount you will be paying and when. Find out if the rates are fixed or may change after a certain period of time.
- Evaluate agreement terms and conditions for a year against several years if you are not moving. A multi-year agreement may be cheaper in the long run with more reasonable rates and offers for security equipment.
- Inquire about monthly plan options to allow for more flexibility without entering an agreement for a year or beyond. This is very helpful for renters that desire a home security system but plan to relocate upon the expiration of their lease.
- If you need to terminate your contract early, be sure to know all terms and fees associated with the termination of your security service. You may be charged hundreds of dollars by some home security service provider for the early cancellation of your contract.
The home security system is a worthy investment financially, regardless of how it is being monitored, whether professionally or self-monitored, or it uses a local alarm system. It has been proven statistically that home security systems are effective.