In 1998 Patrick Egan, founder, established Select Security, Inc, which installed and secured over 24,000 homes and businesses across a large swath of the country.
Security System Overview
Select Security offers a variety of starting packages to meet the needs of their customers, however, their basic and cheapest package is a cellular-based system that does not require a phoneline and uses 2GIG wireless technology. This package starts at $100 for the upfront costs and $54.99/month for 60 months to cover monitoring fees. Included in this package is:
- 1 touch screen panel
- 3 door/window sensors
- 1 motion sensor
- Key fob
- 24/hr monitoring
This system is smart phone compatible which allows the customer to control their entire home security system from their phone.
The most impressive part of Select Security’s basic package is the lifetime equipment warranty. For the full life of the contract all equipment and batteries are covered and can be serviced by a full-time technician at no cost. The only time customers are required to pay out of pocket is if the equipment was broke at the fault of the user (e.g. the ladder knocks the door sensor off). For newer customers it is also important to note that while Select Security is a younger company it was started by Mr. Patrick Egan, who started and ran the Commonwealth Security company in 1971. During that time, the Commonwealth Company grew to become one of the top security companies nationwide, with over 30,000 customers and 10 office locations. Furthermore, since starting Select Security they have acquired over 24,000 customers and have become one of the biggest home security companies in the mid-Atlantic region. Because of this tremendous growth Select has been named to SDM’s best 100 list for three straight years.
Another problem for the cost-conscious customer is the expensive monthly rate. A typical rate ranges from $30-$40; however Select Security is much more costly at $55/month. Some of these extra costs might be due to trying to recuperate some of the costs of providing a lifetime warranty. But regardless the reason, it is one of the more expensive monthly rates for a starting package on the market. Replacements for equipment like a touch screen will also cost $50 to cover the service trip charge. The parts and labor are free, but there is a fee still associated with replacing parts.
Section 1. D.
Lease – The Company Agrees to lease the System to the customer for an initial term of 5 years from the installation date and the customer agrees to pay the company the lease fee. After the initial term, the lease service will automatically renew for successive 5 year terms unless cancelled by either party in writing at least thirty days before the end of the initial term or any renewal term.
Why it’s important
Make sure that if after the initial five year contract ends you do not want to continue service that you notify them at least 30 days prior to the end of the contract. Otherwise, they will automatically renew the agreement for an indefinite number of repeating 5-year terms.
Limited Warranty – For 90 days from the date when the System is substantially installed, the company warrants that if any part of the system does not work because of a defect or because of ordinary wear and tear, the company will repair or replace that part at no charge to the customer. The company may use reconditioned parts in making repairs, but the company warrants the replacement parts only for the remainder of the warranty period.
Why it’s important
If within the first 90 days some of the equipment breaks Select Security will replace it with refurbished equipment and only insure the used equipment for the reminder of the 90 days. After that, it is up to the customer to pay for any repairs.
System Changes – The customer agrees to obtain all permits and licenses and pay all taxes, fines and other assessments, including sales taxes. The Company’s fees are based upon existing taxes and charges, and the Company ca increase the company’s fees to reflect changes in these taxes or charges. After the first year the company may increase its fees if it notifies the customers in writing. If the customer is unwilling to pay the increased fees, it must notify the company that it wishes to terminate this agreement within 30 days after receiving notice of the increased fees from the company. The company then may either terminate the agreement or reduce the fees back to their previous levels thereby binding the customer to the remaining term of this agreement.
Why it’s important
If Select Security increases your rate for whatever reason you can fight it. You must present it to them in writing and from there they can either keep your payments at the lower rate or terminate the contract. Either way, you do not have to accept higher rate changes.
Yearly Company Information
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Taken from sdmmag.com
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