With the introduction of Smart Home Technology one has to ask – will there be anything left for us to do? Interesting question. So many of the functions we used to do ourselves are now being checked and performed by various devices throughout the house designed to virtually eliminate the need for us to worry. Well, almost. Homeowners insurance will always be a necessary part of owning a home.
The days of worrying if we closed the garage door or locked the front door are pretty much a thing of the past – if you have a smart phone, the proper app, and the upgrades that allow you to close or lock either one from 500 miles away. No more frantically calling the neighbors to have them check. It’s now all done for us at our fingertips. Even better yet, your smart home can save you money in a number of ways, including on your home insurance.
Smart devices, as they’re called, and their associated telematics applications via a smart phone, are technologically advancing at an incredible rate. Their growing use is helping insurers develop statistically accurate risk profiles, resulting in usage-based, pay-as-you-drive and pay-how-you-drive personalized policies. Now, with telematics’ entering into the home insurance market, some insurers have already started decreasing premiums for “smart homes”.
According to experts, houses are considered to be getting smarter every day with technology surpassing expectations. Homeowners can control the environment of their homes…adjusting thermostats, controlling security systems, and even turning on or off the lights without being home. In a survey of nearly 1,000 respondents, it was reported that 90% of homeowners and renters stated that personal as well as family security was probably one of the most important reasons for using or converting to a smart home system. Of those respondents, 67% ranked it as their number one reason overall.
Breaking it down by various parts of the house, below are different ways that connected devices can impact your home insurance and save you money.
1. Kitchen
• Moisture sensors can alert you if a pipe bursts
• Coffee makers can be set to brew a fresh pot
• A dispenser can automatically feed or give water to pets
• Refrigerators can alert a homeowner of power outages, if door is left ajar or if a food stock is running low
• Ovens can be set to pre-heat or cook a meal based on a homeowner’s ETA
2. Living Room
• Thermostats can be set and controlled remotely for energy savings
• Lighting can be turned on or off, dimmed, set to blink, and change colors
3. Basement
• Water leak detectors can sense flooded areas and alert the homeowner
• Alarms can send emergency text whenever tanks, water heaters or appliances leak, with alarms automatically shutting off the water supply to the malfunctioning equipment.
4. Security
• Closed-circuit surveillance cameras can monitor the house – in and out
• Shades and blinds can be opened or closed automatically or on a schedule.
• Motion detectors can be activated by movement at the mailbox, lawn, driveway, and other parts of the grounds
• Electronic door locks can be remotely locked or unlocked based on authorization. Fingerprint scanning is included with automatic texts sent to the homeowner whenever someone enters or leaves the home.
5. Garage
• Vehicle detection announcing visitors and turning on the lights
6. Backyard
• Control filters, timers and temperature of the pool or spa.
• Sprinklers can be controlled to – turn on or off – or change the schedule.
With a Smart Technology Home doing everything for us, the only thing left to do is make sure you’re getting the best rate on your homeowners insurance. Why not get a free homeowners insurance quote today?
