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How to Save ,000 on Your Home Security System

How to Save $1,000 on Your Home Security System

If you are shopping for a home security system, it pays to do your research. Smaller local providers can offer far better deals than the large national players like Brinks and ADT. Calculating the total cost of ownership over several years reveals differences of more than $1,000, even when comparing comparable systems.

When evaluating different home security providers, consider a number of options and take time evaluating each. You’ll want to remember this is a long term decision – one to which you will be very much committed. The betters systems are wired into each door and window of your home. Control pads will be installed in your wall and a control unit will be buried deep in the bowels of your home. If you though it was a pain to change your ISP, cable provider or phone company, just imagine changing out your home security system.

Don’t be fooled by looking just what appear to be minor differences in the monthly cost of these systems. Because of the nature of this decision, I recommend using a 5-year time frame. So add up the total installation and one time costs and multiply the monthly monitoring fee by 60. This will allow you to compare apples to apples – even given the different pricing schemes of each company. It will also give you a more accurate picture of the magnitude of the decision. Comparing quotes this way will reveal large differences.

A new survey of prices of home security system providers, reveals big differences in prices between home security providers. Even a basic package with no optional features from ADT, the Essentials Plus plan, will cost $2,413 over 5 years. A reputable local firm costs just $1,172, a saving of more than $1,200.

The difference is mostly driven by the difference in the monitoring service. Both companies charge about $400 for installation, but the local provider charges a monthly fee of $12.95 vs. $33.99 ADT.

Of course, not all services are comparable. Research the reputations of each firm and favor firms that have been in your market for at least 5 years. I recommend using online reviews as a good starting point.

If you’ve already had a home security system installed, it may not be too late. If you are out of the service term required by the contract, call customer care or billing of your system provider and tell them the other rates you have found in your area. You may find they are more flexible with their rates than you think.