How Much Is A Home Security System?

How much does a home security system cost? When buying a home security system, there are a ton of costs to consider beyond the physical components. There are professional monitoring, cloud storage, professional installation, maintenance, permits, and maybe even activation and cancellation fees. Since we’ve tested over 60 security systems, we’ve been through it all.

Today, we’re here to show you what we’ve learned about the pricing of security systems. From financing your equipment and monitoring fees to understanding the contract you have to sign with some providers, we’re going to give you the insights you need to prepare for the cost of your future security system.

How Much Is A Home Security System?

If we haven’t scared you away, just know that if you want to get the most affordable home security systems available, then you can buy the equipment and be done. With self-monitored systems, you can be your own monitoring team. Let’s talk about equipment costs.

Equipment

We’ve tested out a ton of security systems and security cameras, and as you can see on the chart below, there’s a huge range on their costs. At the least, we bought a $60 kit from Wyze, while we purchased a $900 camera system from Swann.

Depending on whether you have a large or small home, you may be able to get away with spending less than $100 on your home security. And security cameras’ costs vary widely, as well, from $20 to $400 for a single camera. The market is saturated, and we’re here for it.

These days, most security companies offer both packages, customized systems, and add-on equipment, so you can choose whether you want your system to be bare bones, with a few sensors on your ground-level doors and windows, or expansive with everything from smoke alarms to carbon monoxide alarms, in addition to security sensors. If you don’t want to spend anything else besides equipment costs, you can stop reading here and go on with your day. If not, continue with us on your home security journey.

Monitoring

While all of the smart security systems we’ve tested offer self-monitoring, some offer or even require 24/7 professional monitoring, usually for a monthly or yearly fee. Professional monitoring will give you the most protection, as you’ll have a team of people available to respond to alarms and contact emergency services at all times.

Again, monthly fees for professional monitoring vary from just $10 with Ring Alarm, known for its low prices, all the way up to $60 with more traditional companies, like ADT. To save on monitoring, sign up for the longest term length possible, as your monthly rate will most likely be discounted. Learn more about Ring Alarm’s pricing and ADT’s pricing here.

Backup

Many professionally monitored home security systems also include cellular or landline backup, which will keep you connected to the professional monitoring center in the event of a power outage. However, what do you do if you need a security system but don’t have a landline?

Easy, look for a security system for homes without landlines! As of June 2020, 63 percent of adults and 74 percent of children live in homes without landlines,1 so many companies have taken to making security systems with cellular backup. These systems use the same data your cell phone uses to stay connected, even if your neighborhood is completely blacked out.

Installation/Activation

Another potential cost is for professional installation. Old-school companies like ADT and Vivint require professional installation, which typically costs a fee around $100. However, most companies offer free, DIY installation. To compete with free, DIY installation, ADT recently released its own lineup of DIY security systems called ADT Self-Setup. We’ve also seen the decline in activation fees; at this point, very few companies require them, so you should be able to get started without one.

Smart Home Automation

Most smart home security systems work with voice assistants like Alexa and Google Assistant, allowing us to arm and disarm them with our voices, among other commands. You should also be able to link up your home security system with other IoT devices, such as smart lights. Usually, these features are offered for free, but with certain companies like SimpliSafe, they’re only available with professional monitoring plans. Learn more about SimpliSafe’s pricing.

Live Streaming

Similarly, most companies let you view your camera’s live footage for free, but some companies offer it only as part of premium subscriptions. Looking at you again, SimpliSafe.

Maintenance

Maintenance is also a cost to consider, the cost of keeping up with your equipment. However, we found that, with rechargeable batteries, we rarely had to replace anything. Plus, with durable equipment, you shouldn’t have to regularly maintain any of your security equipment, even outdoor cameras. In our years of testing our security cameras and systems, we’ve barely had to spend any money on maintenance, so we’d consider these potential costs negligible.

Storage

When it comes to storing your camera’s footage, you could have either cloud storage, local storage, or both. While local storage is free (unless the camera doesn’t come with a micro-SD card), you may or may not have to pay for cloud storage.

• No cloud storage: Not all cameras include cloud storage. Fortress, Night Owl and Swann cameras have local storage only, which is ideal for those that don’t want to spend money on cloud storage frees.
• Free cloud storage: Other options have either free cloud storage or cloud storage bundled with professional monitoring costs.

• Paid cloud storage: Finally, some companies don’t offer any free cloud storage, only paid options.

Taxes

When April comes around, you might wonder, “Can I get a tax deduction for my home security system?” Unless you use your home as your primary, regular place of business, the answer is no, unfortunately. Even if you work from home, there are many restrictions as stipulated by the IRS; read our article on home security tax deductions to see if you can save.

Permits

If you have an audible alarm or professional monitoring, you will probably need a permit for your home security system. In some cases, you may need multiple permits for the fire department, police department, and any electrical work. Be sure to check your local laws before you install your security system, and for the permits themselves, expect to pay around $50 to $100, either one time or recurring.

Contracts And Cancellation Fees

There are few things more universally dreaded than termination fees. If you signed up for a long-term contract, you may have to pay the remainder of your billing cycle, although it’s rare that companies have additional cancellation fees. Whatever you do, read the cancellation policy before you sign up, as you don’t want to be locked into a long-term contract.

Are Home Security Systems Worth It?

Given all of the above costs, you may be looking to jump ship. Are home security systems really effective, and more importantly, are they worth the price?

Do Home Security Systems Deter Crime?

There’s a debate on whether home security deters crime. While there is evidence on both sides, more studies point to the effectiveness of home security systems. A five-year-long study from Rutgers University, for example, found that residential burglar alarm systems decrease crimes, based on data from the Newark Police Department. Not only do security systems guard against burglaries, but they also protect nearby homes.

“Neighborhoods in which burglar alarms were densely installed have fewer incidents of residential burglaries than the neighborhoods with fewer burglar alarms,” said the study’s author Seungmug Lee, Ph.D., who is currently an associate professor of criminology and criminal justice at the University of Texas at Arlington. “The study credits the alarms with the decrease in burglaries and the city’s overall crime rate.”3

Even though home security is expensive, it has been shown to deter crime without displacing it to your neighbors, creating a safer neighborhood for all.

Average Losses From Burglaries

Of course, home security systems are only worth it if they cost less than the cost of a burglary, but how much do people lose, on average? According to the FBI’s latest data, the average loss from a burglary is $2,316,4 pretty pricey. And some things can’t be monetized, like the emotional toll of home burglaries.5 Whether it’s monetary or emotional, home burglaries will cost you.

Pros and Cons of Home Security Systems

But we weren’t satisfied with just one study, so we looked into many other studies to show us the true pros and cons of home security systems.

How To Save On Home Security

Despite the mounting costs, there are ways to save on home security, and boy, have we got ideas.

Deals, Deals, Deals

Discounts and deals occur year-round and on sales holidays like Black Friday, Cyber Monday and Prime Day. We obsess over all home security camera and system deals, and we’ve linked to them below for your saving pleasure.

• Year-round deals: Home security system deals, ADT deals, Vivint deals, SimpliSafe deals
• Black Friday and Cyber Monday deals: Home security system Black Friday deals, ADT Black Friday deals, Vivint Black Friday deals, SimpliSafe Black Friday deals, Frontpoint Black Friday deals
• Prime Day deals: SimpliSafe Prime Day deals, Ring Alarm Prime Day deals

Long-Term Contracts

As we mentioned earlier, you can save money on professional monitoring by signing a contract for a long time period; of course, if you ever want to get out of it, take cancellation fees into consideration.

DIY Installation

Another way to save money is to install your security system yourself, which shouldn’t be too hard, especially if it’s a wireless security system. Protect your home with the best DIY home security systems.

Self-Monitoring

You can avoid monthly fees completely by self-monitoring your system. Look into the best security systems with no contracts, the best security systems with no monthly fees, and the best self-monitored security systems.

Home Insurance Discounts

If you own a home, you could save two to 10 percent off your homeowners insurance premiums by buying a home security system.

Financing Options

If the upfront costs of a home security system are too much, many companies have financing options. Take Frontpoint’s costs if you pay through Bread, for example.

Of course, in this case, you’ll have to sign up for three years to do the financing option, but this will differ on a home security company-by-company basis.

What To Look For In A Home Security System

So you’ve decided that a home security system is worth your while, and now it’s time to pick a system. There are a ton of factors to consider in that buying process, including the following:

• DIY vs. professional installation: First, decide if you want DIY vs. professional installation. Again, to save money, go with DIY over systems that require professional installation.
• Wired vs. wireless: Especially if you’re doing a DIY installation, you may want a wireless vs. a wired home security system. However, wired systems have the advantage of having no batteries to replace, although they may not work in a power outage if you lack backup.
• Monitored vs. unmonitored: Decide whether you want self-monitoring, professional monitoring, or both.
• Apps: Look for systems with apps that have ratings of at least three stars on either the Google Play or App stores.
• Trustworthy company: Check into the company’s background. Do they have a history of spying on customers, data breaches, or hacks? Security systems can be hacked, so it’s important to do your research.
• Equipment options: Before you start looking, make a list of the equipment you think you’ll need for your home, and then look for companies with comprehensive and affordable options.
• Pricing: Of course, pricing must be taken into consideration, from equipment to monitoring to storage and everything in between.
• Smart home integrations: Those that already use Alexa or Google Assistant in their homes will want home security systems that do, too, allowing for convenient home automation and voice commands.
• Backup: If you have a wired security system, you’ll want either cellular or landline backup to keep your system on in a power outage.
• Contracts: Many people want flexibility in their home security, and if that’s the case, choose a system with month-to-month contracts. Others may want to benefit from the discounts of long-term contracts, which can be up to three years long.
• Customer support: The company should have myriad ways to reach customer support, including phone, email, and live chat, plus good reviews from real customers like us.
• Warranty: Look for an equipment warranty of at least a year, if not longer.
• Return policy: This one’s really important. Make sure the company offers a reasonable return policy, and take any cancellation fees into account as well.
• Moving policy: If you move, can you take your system with you? If it’s professionally installed, will you have to pay a fee again? These are both important questions to ask yourself if you’re not in your forever home.

Recap

With customizable home security kits, you can spend anywhere from $20 to thousands of dollars on your home security system. The truth is that there are systems of all shapes and sizes, from security systems for apartments to security systems for large homes. And with optional professional installation and monitoring, the costs of home security are really up to you.