Is there such a thing as a free home security system? What about those $49 security systems? How can I tell if I am getting a good deal?
Aggressive security companies push low upfront costs in exchange for a contract. Let's take a look at how these deals work.
How much does a $99 system really cost?
$99 (or similarily priced systems) generally include the following leased equipment that belong to the alarm company:
- Control Panel
- LCD display
- 2 Door or Window Contacts
- Indoor Alarm
Leased System Costs
|Service or Equipment||Total Cost|
|Leased Equipment Cost:||$0*|
|Monthly Monitoring Costs of $35 over the 36 month contract||$1260|
|Total Cost Over 3 Year Contract||$1359|
Purchased Security System Costs
- All Doors monitored
- Up to 5 main floor windows monitored
|Equipment and Installation Cost:||$450|
|Monthly Monitoring Costs of $15-20 over 36 months (with no contract)||$540-$720|
|Total Cost Over 3 Years||$990 - $1170|
Based on a $15 a month service, the leased system would cost over $300 more in the first 3 years, each month you have the security system, purchasing the system outright becomes better value. Also since your system is non-proprietary you can switch providers, and also cancel your monitoring at anytime.