This may come as a surprise, but a home security system is an investment. As with any investment, it’s important to determine the return on investment (ROI) that you will likely receive. There are a few ways you can go about figuring out the value of a home security system. One such way is to add up the upfront & monthly expenses linked to your home security system and alarm monitoring. This method of assessing the value of a home security system overlooks one key benefit – peace of mind. Attaching a hard and fast price tag to peace of mind is an extremely challenging task. This is especially true if you have children or teens in your home.
What Security Systems Do
Believe it, or not, but home security systems do a lot more than simply deter burglars. Some systems can keep you connected to your home no matter where you are in the world. They will also notify you when doors are opened and closed and if anyone attempts to access sensitive areas throughout your home – gun and liquor cabinets for instance. There are also other subtle benefits that you might be able to take advantage of, such as homeowners or renters insurance discounts.
Value of a Home Security System: Equipment
The initial cost required to add a security system to your home can range anywhere from $250 to upwards of $1,000. This figure totally depends on the system, equipment and the method of installation you select. If you seek a value-rich home security system, make sure to check out Protect America. Protect America offers plans starting at $19.99 per month with zero upfront expenses.
There is some good news if you do end up paying upfront costs. These costs are a one-time fee. However, isn’t no cost better than a one-time payment?
Once your system is installed and operational, there are monthly fees that you need to take into consideration. These monthly fees can greatly impact the value of your home security system. This is one area of the fiscal side that you have a lot of control over. Your level of service varies greatly depending on the features and level of monitoring that you select. There are entry-level plans available from reliable companies for as little as $19.99 per month. However, if your needs require greater security, there are more advanced packages that include 24/7 professional monitoring or regular security patrols that can run as much as several hundred dollars per month.
Value of a Home Security System: Is it Worth It?
In order to best determine if a security system is a worthwhile investment for your family, you need to ask yourself the following question:
What would make it worth it to you?
There’s no doubt that home security systems deter crime and can even increase the odds of catching a burglar if your home does fall subject to a home invasion. In fact, according to the Electronic Security Association, if a home with a security system falls victim to crime, the average loss is roughly $2,000 less than in a home without a security system.
Security systems and monitoring discourage break-ins: 60% of convicted burglars say they will target another home if they discover a security system in the one they are attempting to rob.
If your goal is to reduce loss from burglary, it is easy to see that a home security system makes a big difference. However, the additional services provided by professionally monitored systems could end up saving a lot more if you add connected smoke alarms, carbon monoxide sensors, and remote home automation services that can work together to prevent loss of life and property while managing energy costs.
Just as with all types of insurance, there’s no guarantee that you will ever need to make use of the full extent of your home security and monitoring systems. This is why it’s important to fully understand your security goals in order to weigh the true value of a home security system and its cost.
Discounts from Home Security Systems
In most cases, the more elements your home security system has, the steeper the discount you might be eligible for. Not all insurance providers offer discounts for alarm monitoring and other security services. It is important to check with your insurance company to verify that you are eligible for said discounts. Sometimes is’s not a matter of saving on your homeowner’s policy, but rather keeping it. There are certain home insurance policies that actually require the addition of a security system. If a home has been burglarized is typically one qualification to require a home security system. Another is if it is located in an area with a higher incidence rate of home thefts.
Protect Your Valuables
Consider any irreplaceable items. Items such as family heirlooms, art and other pieces that carry high sentimental. To keep such items safe, you will likely need to pay something. Whether you invest in a safe deposit box or a home security system. A security system might make more sense than locking them up somewhere other than your home.