Recently Telematics has been the buzz in the Insurance industry. More commonly, Vehicle Telematics, where driving habits are analyzed and insurance premiums are rated by how you drive. However, now there’s Home Telematics available that can save you money in the event of certain bad things happening.
Data shows this year in the US nearly $50 Billion dollars will be paid out in Homeowners Insurance claims. The economics of it is this, the more money that’s paid in claims the more money insurers will charge for premiums. That means if we can do things to prevent or mitigate losses it saves us money in the long run. Deploying Home Telematics solutions may cut annual claim costs and in turn keep your premiums from rising.
Home Telematics use Smart Sensors along with a Smart Phone mobile app to monitor things like smoke detection and water leaks. The Smart Sensors sends notification to your phone in the event of triggering. This technology offers early detection for problems like water leaks, humidity, freezing pipes. It also can notify you if your smoke alarm sounds or if your garage door is left open.
If you’re interested in this technology or other ways you can save money on your premiums feel free to contact me for a personalized Homeowners Insurance Review.
Trusted Insurance Advisor