Over the past decade, the number of smart home devices that leverage the Internet of Things (IOT) technology has skyrocketed. What used to be considered advanced technology not seen in most homes is now available at every hardware store. In fact, forecasts predict that in just three years, 15% of households worldwide will have at least one smart home system. Our smart home survey found that 46% of consumers are mainly using smart home products for the convenience they provide.
Smart home devices are a good fit for a broad array of homeowners because of their ability to simplify and streamline our daily routines and tasks. Instead of manually turning down the thermostat, locking the door, closing the garage door and setting the alarm, these things are now all automated. But smart home devices provide more than just convenience.
Safety is a major concern for homeowners everywhere. Outfitting your home with the latest cameras and alarm systems offers extra protection and monitoring capabilities, giving you some peace of mind no matter where you are. Smart tech can also alert you to potential issues or forgotten tasks from a distance, meaning you can turn off the stove or lock the back door during your commute to the office. Installing these devices can also help aid in your home’s total wellness, as it reduces the impact of accidents throughout your home thanks to early detection and warnings.
But improved safety isn’t the only bonus that smart home devices provide. Homeowners who invest in smart home products also have the potential to save a lot of money. That’s because these devices are designed for energy efficiency, with the goal of reducing the carbon footprint of homeownership, lowering your energy bills and even saving you money on your home insurance policy. It’s a win-win — for the planet and for your wallet.
If you’re not sure where to start, let us help spark some inspiration. The following provides a device breakdown to help you determine the best smart home devices to incorporate into your home to help you simplify your life and save money.
Smart Homes Are a Positive Signal For Insurance Providers
When you choose to upgrade your home appliances, security systems and monitoring devices, you’re actually doing more than just streamlining your routine. You’re also showing your homeowners insurance provider that you’re a safe and educated homeowner, which can help you save money.
Some insurance providers (like Hippo!) reward smart home tech owners by reducing premiums, subsidizing the cost of these devices or even paying to install them. Think of it as the equivalent of a safe driver discount for auto insurance. Since these devices help detect issues, minimize damages and make homes run more efficiently, they also minimize the number of claims you’ll file. The discounts, convenience and safety benefits that come along with them make them well worth the investment.
Just like smart home devices, Hippo is here to help make things simple. That’s why we offer a complimentary smart home sensor kit with the purchase of a homeowners insurance policy. Explore how our comprehensive homeowners insurance can help you streamline and save.
Sources: Statista | Juniper Research | U.S. Department of Energy