Understanding CPI Security's Pricing Structure
CPI security's pricing structure is in many ways the same as the pricing structure of most alarm companies, but one of the differences is CPI Security's lack of transparency. Their equipment and monitoring service features are well explained on their website. The pricing, on the other hand, is not. So what should you expect when buying services and equipment from CPI Security?
First, that there's an equipment cost and service cost. Second, that there's some flexibility. And third, your equipment choice will impact your monthly fee.
The equipment fee pays for the hardware, and can either be paid up-front or month-by-month via SmartPay financing. The service cost covers the monitoring service and is paid every month. The service cost is determined by your equipment choice.You start by choosing a package between the three that they offer: Essentials, Essentials Plus, and Edge. Essentials is the cheapest, both in equipment price and monitoring fee. Essentials Plus is mid-tier, while Edge is high-end.
After selecting an equipment package and thus determining your monthly fee, the next step is choosing how you want to pay for the equipment. Here's where CPI Security's flexibility comes in. If you're okay paying hundreds of dollars for the equipment up-front, they will reward you by giving you a month-to-month contract. This means you can cancel the service anytime, although you can't return the system. You would have already paid for it, so it's your. If you want to reduce your upfront fee to almost zero, you can choose Smart Pay financing. This allows you to divide the equipment price into 39 to 60 monthly payments with no interest rate. The catch is that as long as you have an equipment balance, you're under contract with your CPI Security. If you wish to cancel your service, you must pay the full balance first.
Is their contract term fair? We think so. Other companies will require you to pay the equipment balance AND an early termination penalty equivalent to the number of months remaining in your contract multiplied by your monthly rate or a fraction of it. That's essentially like paying for a service you won't be able to use. With CPI Security, simply pay your balance and you're off the leash.
Other Fees You Should Know About
Outside the standard monthly fee and equipment fee, there are other fees you should know about.
Installation Fee
CPI Security requires professional installation, and the good news is that it's free. However, installation of exterior cameras, smart thermostats, and smart locks may require an installation fee. In some cases, customers might need to call a third-party locksmith or HVAC pro to perform smart lock or thermostat installation, and the the responsibility of paying the service fee falls unto the customer.
Alarm Permit
Some cities and counties require an alarm permit, which is a permit from the police department or sheriff's office allowing you to have a professionally monitored security system with police dispatch. The cost varies, with others giving alarm permits for as low as $15. Check with your local authorities prior to contacting CPI Security.
Transfer Fee
If you're an existing customer with less than 24 months of service and has the old contract (signed before July 2018), you'll be charged if you transfer your monitoring service to your new address (i.e. if you're moving).
Technician Visits & Repair Services
If there's a problem with your system and you need a technician to fix it, CPI Security is only one call away. They will schedule a visit and the technician will try to fix the problem. Technician visits are subject to standard Time & Material rate. There's also an additional $150 fee for emergency repairs done outside of normal operating hours (Monday to Thursday at 8AM to 9PM and Friday to Saturday at 8AM to 5PM).
Ways To Save
We may have failed to get a solid pricing information from CPI Security, but while researching their offers, we were able to find ways to save money when buying their services or equipment.
Promotions
CPI Security loves running promotions. In fact, their promotional offers change from time to time, but there's almost always an offer at any given time. And the best thing about their promotions? You don't have to search far and deep; they're usually posted right on their website.
Will there be a next offer? Absolutely! Stay tuned and check back afterwards to see their latest promotion.
Negotiate
CPI Security is a local alarm company, and one of the few advantage of local alarm companies is that they are easier to negotiate with. When getting a quote from a sales rep, don't be afraid or shy to at least try to get a better deal. We can't guarantee this will work, but if you're fortunate, your sales rep might offer you free equipment or equipment discounts.
Pay For Service Plus
This may seem counterintuitive because Service Plus requires a monthly fee, but in the long run, it might save you hundreds of dollars in parts and component replacement and service fees. Service Plus is an extended warranty service, and as long as you're paying it, you'll get free component replacement for damages due to normal wear and tear. The service and installation fee is also free. On top of that, emergency repair services performed outside normal office hours will only cost you $75 instead of the $150 standard rate.
Capitalize On The Insurance Discount
This won't lessen your security system expenditure, but it will give you a substantial discount and saving on your insurance premium. Most insurance companies offer up to 20% on homeowners insurance premiums if the homeowner has an alarm system. Simply get a monitoring certificate from CPI Security after setting up service and show it to your insurance company to avail the discount.
