The average cost for the installation and set-up of a new home security system was about $600 to $1200 in 2013. The cost of monthly monitoring plans was about $30. However, some plans were cheaper, costing just $15 per month. Other plans were far more expensive, some costing $100 per month.
Pricing is one of the most important factors that homeowners consider when purchasing a home security system. Here is some information about how much home security systems cost.
How to Companies Make Home Security Systems More Affordable?
Home security system providers commonly employ two different methods to make their products more affordable for homeowners. Some companies opt to lower upfront costs for individuals who sign a contract to receive monthly monitoring service. This is an excellent option for homeowners who desire home security, but are unable to pay a large upfront cost. Upfront costs refer to installation costs, equipment costs, and activation costs. Even if you pay for a monthly monitoring service, some providers may require that you also pay for the installation and activation costs to sign up.
Another tactic that companies use to reduce costs is offering customers DIY home alarm systems. Individuals who prefer to pay higher upfront costs and lower monthly monitoring fees should opt for a DIY system. Consumers who buy their equipment upfront are often allowed to get contract-free DIY security systems.
What Are Your Chances of Becoming a Victim?
Contrary to popular belief, burglary rates have been declining in the past few years, according to the FBI. However, the FBI reported that there were more than two million burglaries in 2012. Since there are about 120 million households in the US, each household had a 1 in 36 chance of being robbed.
Of course, it is important to consider that burglary rates differ from city to city. For example, in New York City, there were 224.8 burglaries per 100,000 residents in 2012. If you would like to look up your chances of becoming a victim, you should take a look at the FBI’s Uniform Crime Report. You will be able to figure out the burglary rate for your city in just a few minutes.
How Much Could You Lose in a Burglary?
Another factor that you should consider when it comes to the cost of home security systems is how much you could lose in a burglary. If you’ve ever been burglarized before, you probably know that the difficulties of the experience extend far beyond the value of the belongings that were stolen. Belongings can have both monetary and sentimental value. Also, being burglarized can cause physical, mental, and emotional trauma. The potential cost of therapy, healthcare, and lost wages are important to consider.
The average value of belongings stolen in a burglary was $600 in 2011. However, in many incidents, the criminal wasn’t able to steal anything. If burglaries where nothing was stolen are eliminated from the data, the average increases to $2,120.
Homeowners who are in the market for a new home security system definitely place a lot of value on cost. As you can see, there are many factors that you should consider when evaluating the cost of home security.
For more information about home security costs, don’t hesitate to contact us here at Protect America.