Yes, most home insurers will offer lower rates to people whose homes have a security system
Security monitoring is a service that monitors and responds when emergency events occur. The service will contact responders when the alarm is activated as well as communicate with the homeowner to ensure the alarm was valid.
Yes, most security systems will have heat, smoke, and moisture alarms to help prevent these types of issues.
This will depend on the system you choose. Some may be month to month while others may require a yearlong commitment or more.
Most systems will come with backup power built in so there should be no effect on the system until power is restored.