No thief is going to cut the cord. In reality, it's mostly smash and grab. Alarm company notifies cops, cops show up 20 minutes to 2 hours later.
Source: friend was a crime analyst for the local PD.
EDIT: Get insurance. It much cheaper than home security monitoring.
Insurance is a given, and a requirement when renting almost everywhere.
But most thiefs are scared off by a shrieking alarm, and if they aren't, indeed, they are probably going to be too damn quick for police to do anything.
But I think I still like the idea, at least (or especially) when I am out of town. And with either the security system or the home automation system, I'll have a camera or two I can use to record evidence, and verify if it was a false alarm or real security event.
Evidence is unlikely to get anything returned if it was taken, but at least it could be used to make some asshole(s) do some time. And it could potentially open an avenue for reimbursement that doesn't tap into my insurance, which will help keep premiums from increasing. Unlikely, but possible.
I'm kind of a paranoid person, I admit, and as I look to get more and more technology in such a small consolidated area, that only ups the paranoia. But what kind of drives me to this solution is the fact that the handful of places I am considering for my next place are all firmly "no pets". If I get a place that allows dogs, I might reconsider this, as the expense of a dog vs buying a security system with monthly fees is likely equivalent.