Nearly half of all homeowners and renters in the United States would consider allowing their insurance company to receive information about the status of their home through a smart home device or system, according to a new survey from the Insurance Research Council.
Forty-five percent of those participating in the survey said they would consider it, while 31% said they "don't know or were not sure."
One in four said they would not allow their insurer to receive information about their home. They cited concerns over privacy and information control for their reticence to share personal data via smart devices.
Smart home devices include a range of sensors and connected appliances designed to perform such specific tasks as locking or unlocking doors and windows, or monitoring specific conditions, activities or events in a home.
Smart home devices are connected directly to wireless home networks and thereby to the Internet. They alert homeowners and renters to potentially undesirable or dangerous conditions at the residence.
In some cases, these devices enable residents to control or activate mechanisms such as a door locks or thermostats, regardless of their physical proximity to the home. Some smart home devices and systems involve allowing an insurance company to receive limited information about the status of a policyholder's home directly through the device or system.
"The findings from this survey confirm that many homeowners and renters may be eager to participate in insurer-sponsored programs involving smart home devices or systems," Elizabeth Sprinkel, CPCU, senior vice president of the IRC said in a statement. "The survey also provides valuable insight into what insurers might do to encourage even greater participation in the future."
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
