The Home Security industry is very similar to the Cell Phone industry. Like Cell Phones, you can purchase a Security System in one of two ways.
You can Sign a multiyear Service Agreement, or purchase the security system upfront. It’s like Cricket Wireless vs something like ATT. There’s pros and cons to both, but it really comes down to which method best suits your needs at the moment.
When you sign a Service Agreement for Security Monitoring, you usually get a set amount of alarm equipment included with no additional expenses. There’s understandably a limit to the amount of included equipment, but you should get a good amount of equipment to create a solid foundation for your Home Security System. From there you can purchase additional equipment as needed to expand your system.
There’s some variation, and companies are always running promos, but typically a Service Agreement is 3-5 years in length, and average monthly monitoring rates are between $45-65. The monitoring price is effected by included equipment, and services like remote access to your home, or control of your Smart Home features.
Purchasing the Equipment
When you purchase the equipment outright there are no contracts. The monthly monitoring is month-to-month. You have a couple of options. If you want all the services and features enabled on your system, along with actual monitoring it’s $30 a month. If you just want to self monitor, but still want the services enabled for remote access, text and email notifications, it’s $20 a month.
Which Approach is Right for you?
You might be asking which of the two is better? Well really it’s a matter of which is better for you. Some prefer the convenience of a higher monthly payment to a one time payment for all the equipment. Others prefer no contracts, and flexibility that comes with purchasing the equipment up front.
If you plan on purchasing your Security System through us, and we hope you do, we are not able to provide Service Agreements online at this time. We hope that will change soon, but for the time being all of our online Security Clients are purchasing their equipment. And don’t worry, we have an awesome DIY Security program that takes all the pain out of the process for you. Make sure you check it out before you leave.
If you have any questions, leave us a comment below or email us.
Matt is the co-founder of Tym LLC. His smart home and audio/visual designs have won four “Home of the Year Awards” from Electronic House & CE Pro magazine, and three awards from the Consumer Technology Association, including "Home Theater of the Year", and "Custom Smart Home of the Year".
Matt is Golden State fan.
Catch Matt's how-to videos on YouTube