Home Security System Prices and ROI
The benefits of a well equipped home security system are obvious. However still, many people don’t think that a burglary could ever happen to them. According to Crime Prevention Awareness, homes without a burglar alarm system are two to three times more likely to be burglarized. This data, paired with the fact that in 2009, victims of burglary offenses suffered an estimated $4.6 billion in lost property, averaging losses of $2,096 per burglary makes purchasing a home security system an ROI driven investment.
Burglaries are becoming more common, according to the FBI; burglaries have increased 7.2% since the year 2000. Taking this into consideration, the costs of home security systems are minimal in relation to other home investments. The biggest costs associated with a home security system are typically the installation and maintenance. A monitored security system will typically cost around $1,000 flat fee for installation and $250 a year in maintenance costs. Typical home security systems range from $25-$35 per month. Each security system has different requirements that influence pricing, from installation to hardware costs, so be sure that the option you choose falls within your budget. It will typically be cheaper in the long term to purchase your security systems hardware, but if you are unsure about which security solution fits best, many companies offer leasing options.
Aside from the obvious benefits of protecting your family, home security systems can lower the cost of insurance premiums. Recent survey data of the 10 largest insurance companies offering homeowners coverage found, “premium discounts up to 20 percent if a home is equipped with a monitored alarm system,” said Dom D’Ascoli, president of the Electronic Security Association. Insurance companies give back to customers that are taking extra measures to secure their homes. The rate of discount is often proportional to the extent at which you invest to protect your home. If your property insurance company doesn’t offer discounts, you may consider shopping for one that does.