There are nearly 7 million property crimes that occur every year, according to the latest FBI data. And although property crimes have been on the decline in recent years based on the latest data, you may still want to consider investing in a home security system for a number of reasons.
Top 5 Reasons To Invest in a Home Security System
If you’re considering investing in a home security system, you may be curious if the cost is worth the benefits. To help you decide, take a look at the main advantages of putting one in place.
Protection Against Burglaries and Other Emergencies
An effective home security system can protect you and your property from burglaries, home intrusions, fires, floods and more. Monitoring systems can help alert you and the proper authorities in the case of an emergency, and may end up saving you money in the case one does occur. As of 2019, the average dollar loss per burglary offense was $2,661, which is far more than you’ll pay for a typical home security system.
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Deterring Potential Criminals
Simply indicating that you have a home security system in place via signs, stickers or visible outdoor cameras may deter a burglar from even attempting to rob your home. A 2013 survey of incarcerated burglars conducted by the University of North Carolina at Charlotte found that 83% of burglars would try to determine if an alarm was present before attempting a burglary, and 60% would seek an alternative target if there was an alarm on-site.
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Peace of Mind
Many home security systems allow you to keep tabs on your home from wherever you may be, so even when you’re not at home, you can ensure that everything is as it should be. And you can also rest easy knowing that your home is being monitored while you sleep.
It Makes Your Home More ‘Smart’ and Energy-Efficient
A home security system can be a worthy add-on to your home’s smart features. Smart door locks and garage door openers allow you to let friends and family into your home with the touch of a button. And security systems can also be linked to your smart lights and thermostat, enabling them to adjust automatically to save energy.
Lower Homeowners Insurance Premiums
Homeowners insurance providers typically offer a premium discount of 5% to 20% if you have a professionally monitored security system installed, U.S. News & World Report reported. Discounts are higher depending on what exactly the system monitors — you’ll get a larger discount if it monitors for fires, smoke and water damage than if it only monitors for intrusions.
How Much a Home Security System Costs
Home security systems are available at a number of different price points that vary based on the level of services provided. When choosing a home security system, consider what your needs are as well as what’s within your budget.
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Here’s a look at what some of the most popular home security systems cost, plus what services each provides.
The Abode Iota Home Security Kit retails for $199.99 on Amazon and is compatible with HomeKit, Alexa and Google Home. You can choose a self or professional monitoring option. The self-monitoring option doesn’t require a contract or monthly fees, though you can upgrade the free plan for 20 cents a day to access more features. The “Pro” plan costs 66 cents a day and includes professional monitoring and immediate response when a smoke or burglar alarm sounds.
Cove’s home security system can include burglary and intrusion sensors, cameras, environmental sensors and medical alerts. The basic alarm system — san sensors — is available on the site for $124.50, with the option to add professional installation for $79. The “Cove Basic” plan costs 50 cents a day and includes 24/7 live alarm monitoring, environmental monitoring and Cove LiveAssist, which allows you to contact help directly through the system. The “Cove Plus” plan costs 83 cents a day and includes additional benefits such as a lifetime equipment warranty and smartphone control.
Frontpoint’s home security packages start at $99. The system is voice-activated and customizable and protects against fires and floods in addition to burglaries. Frontpoint’s professional monitoring services cost $1.64 a day and include 24/7 support, the automatic system checks every hour and fast dispatch times in the event of an emergency.
SimpliSafe’s home security system equipment packages start at $122, and all include 24/7 alarm monitoring with no contracts and no phoneline needed. SimpliSafe’s professional monitoring alerts the proper authorities the moment there’s an issue, connecting you directly with emergency personnel, for 83 cents a day. Or you can opt for a camera recording only plan for 33 cents a day.
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Of the popular systems, only Cove and Vivint have an option for a professional installation — and with Vivint there actually is no self-install option. Vivint’s home security systems all feature “Smart Deter technology,” designed to identify and deter threats using light and sound. The Vivant systems can also be integrated with all of your smart home features, allowing you to control lights, doors and temperature from wherever you are through the Vivant app. The base cost for a Vivant home security system starts at $599, with monthly professional monitoring plans for $29.99 and up.
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