Is there a way to possibly freeze an account? Or is cancelling the only options?
There is no way to place an Alarm.com account on hold, however as Surety service is completely month to month it is easy to cancel and start up again later if you need to stop service for a while.
You can also drop your service plan to the Automate plan if you wish to retain your account and some automation features. That is the cheapest plan. Depending on what your goal is that may be a good option.