April 28, 2021
Are you in the market for a home security system? Before you sign the contract, read your contract carefully to make sure you understand all of the details, including the duration of the contract, what’s included in the price, and other contract terms. There’s a lot to know about home security contracts, but let’s start with the basics.
You should be aware of what you’ll be paying per month. The details can vary depending on your security system provider, the amount of money you put down (if any), whether you bought and assembled the equipment yourself, and other factors. The following items are often included in monthly fees:
The average duration of a home security device contract is 36 months. Typically, it takes three years to pay off the equipment and installation. However, contract duration will vary—you can be able to get a one-year contract or be asked to sign one that lasts up to 60 months.
Know the length of the deal, the amount you’ll pay for the duration of the home security contract, and what will happen if you broke it.
Are you wondering if signing a longer contract would allow you to pay a lower monthly fee? It’s conceivable. Since a longer contract will mean that installation and equipment costs are spread out over a longer repayment period, a longer contract will save you money. So, while you aren’t saving money in the long run, it may appeal to people who want to pay less per month.
Ask your security company if it provides various contract choices for customers and have all the information about what you’d be charged for each one before you pick.
Some security companies do offer a month-to-month contract-free option, but this might only be available if you buy or rent the equipment from the company and so the rental fee will be part of that monthly fee.
You can also buy your own wireless surveillance system equipment, mount it yourself, and hire a company to do the monitoring for you.
The good news is that if your plan change after you sign a contract—for example, if you move or decide to work for a different company—you can usually get out of it.
Security system contracts can vary widely from provider to provider, so read yours carefully and understand all the fine print before you sign. For example, some plans auto renew when the initial contract period ends, if you don’t opt out. In others, the monthly fee may get lower after the contract length, since the equipment is then paid off.
When weighing your options, keep in mind any future plans or possibilities, such as switching companies, moving, or getting rid of the system altogether. In choosing a security company, having a contract that fits your budget and your need for flexibility is key.