Smart home devices today can help minimize damage from water leaks, prevent theft, and pre-emptively identify fire hazards. The good news is, what’s good for your safety and home is also good for your home insurance provider. Insurance companies have realized the benefit of smart home safety devices, and are offering customers discounts and incentives to adopt such tech. But what’s so advantageous about smart home tech compared to traditional home safety devices?
Consider how some common safety devices become more useful with connectivity. A smart smoke detector can not only alert you of a fire when you’re home, it can also alert you via mobile notifications when you’re away, allowing you to prevent damage immediately from afar. Similarly, cameras on smart door bells, contact sensors on windows, and other security devices can alert homeowners (whether they’re home or not) of an intruder or break-in. In 2016, 97% of claims included property damage (which encompasses theft).
Furthermore, disasters like water leaks in walls or underground can be found by small sensors, long before the water bubbles up to a place you’d notice when moving about your home. Water management systems might go so far as to turn off the water when such a leak is detected. Given that 19% of insurance claims involve non-weather-related water damage, it’s easy to see the value of such systems.
Smart home tech allows for faster, more reliable response to damage and disaster. But how common must this sort of damage be to intrigue smart home insurance companies? Check out the infographic below or access it here for a more detailed look at why insurance companies are smart home enthusiasts.