Home security systems are investments, and as with any investment you must make sure the return you receive is worth it. Tallying up the cost associated with a security system and alarm monitoring is about more than just dollars and cents; it is about peace of mind. If you have valuables or children in the home, how worth it is to you to ensure your children and valuables are continually monitored? Furthermore, what kind of price tag can you place on that kind of peace of mind?
Remember, home security systems do more than deter potential intruders. The right security system can link you to your home no matter where you are in the country or world, provided you have a WiFi connection. Depending on the system, are you are notified when windows or doors are opened or closed. You may also get discounts on home owners or renter’s insurance, depending on your policy.
Evaluating Cost and Benefit
The average home security system costs anywhere from $250 to over $1,000, depending on the system, equipment, and installation. Fortunately, those are generally one-time costs. Still, there are monthly fees that must be considered. Packages vary, so you usually have more control over the monthly costs. Reputable companies offer packages for as little as $20 per month.
To determine the worth of your home security system, you must ask yourself what would make it worth it for you. There is no question that alarm systems deter burglars and can minimize risk if your home does get broken into. According to the Electronic Security Association, if a home with a security system does get broken into, you can expect the average loss to be $2,000 less than a home with no protection at all.
Certainly, the goal of preventing loss from a burglary is an important reason to invest in a home security system, but there are other important reasons as well. Whether it be the smoke or carbon monoxide monitoring or remote home automation, there are numerous benefits. Home security systems may also help you lower your overall energy costs.
Getting That Discount
Typically, the more you pack into your home security system, the greater the discounts you will get from your provider. It is also important to consider that not all insurance companies offer discounts for home security systems. Sometimes the security system provider themselves provide the discount.
It may also be a matter of not just saving on a homeowner’s insurance policy but keeping it in the first place. Some insurance policies require the home owner to have a security system installed in order to retain the policy. This is usually the case if the home has been broken into before or is located in a high-crime area.
The key thing to remember is that a home security system is an investment. And like any other investment, you must conduct thorough research and do your due diligence to determine which system is right for you. Home security is not always a simple matter, especially considering where your home may be located. Don’t rush into anything without keeping these important factors in mind.