The guy I'm buying it from works for the AA. He says he's never bother fitting an alarm or imobiliser, as he attends to loads of bikes where alarms have caused flat batteries or stopped the bike working at all. I've only ever had one bike that was alarmed (an RGV250), and it did flatten my battery a few times....one half way home from Donnington!
I will still look into it though.
My garage is locked, but the doors wouldn't take a lot to get through. Definately want to get a decent ground anchor and chain/padlock. also security marking if it puts thieves off?
But like you say, if it's insured.
The bikes top whack (£3k), but it has everything I've been looking for in a Falco:
The last year/colour scheme i like

Only 3,500 miles
12 months MOT
11 months tax
FSH
Titanium Quill Tri-Oval cans/link pipes (and original)
Power Commander
K&N air filter
Double bubble screen
Ohline steering damper
Hagon adjustable shock
Braided hoses all round
And even a ScottOiler
He's even had the side stand modified (at a cost of £50) so that it's not so precarious.
I seriously think I'd struggle to find another in this condition & with over £1500 of mods.
And yes it will be VERY loud without the baffles, but with them in they are road legal & stamped as so
Collecting next Monday....when's the meet?