Technology has had its hand in just about every aspect of life. It has changed how we have interacted with each other as well as how we conduct business. The real estate market is no different. Everything from home security to smart devices allowing us to monitor who comes to our front door and turning devices on and off, technology has changed the way we sell homes. Technology can also change the way we conduct home insurance proceeding as well. Let’s take a look at how technology can change home insurance.
Submitting a Claim
Submitting an insurance claim can be time-consuming, and require you to call, or email someone to get the process started. The more technology is involved, the easier a claim can be though. For instance, a smart device records what thieves are doing and give you a faster and easier way to make claims with insurers.
It wasn’t always easy for us to know when bad air, mold or other toxic things were infiltrating our homes. But now with technology, we have devices that will measure and keep an eye on all these things that can affect not only our health but the health of the home earlier. And if we can detect those things earlier, we can prevent those things from happening.
Decrease the number of Claims
Just like with early warnings on toxic things in our home, technology can give us early warnings with accidents and other emergencies. For instance, if our security system shows a tree that is down, but hasn’t yet hit our house, we could prevent the tree from hitting our home and save a claim. The fewer claims an insurance company gets, the lower the rates for everyone.
When a security system is in place it is evident that it is less likely there will be issues that will warrant a claim. Because of this, most insurance companies will offer a discount for homes that have a good security system in place.
Smart Water Leak Detectors
When a water leak happens, it can cause significant damage, and a claim to an insurance company can cost both you and them money. Knowing about a leak early, can help you prevent a full-scale water disaster, but can also save you from have an inefficient system that can cost a lot more on your water bill.
A smart deadbolt will let you know when you have left the house without locking it. It allows you to secure it with the touch of a button, giving you a peace of mind, especially when you go on an extended vacation.
Smart doorbells activate whenever someone or something gets near the door. Having a smart doorbell is helpful on several levels. It can help you monitor any suspicious activity that happens at your door, keep you from solicitors you aren’t interested in or allow your kids easier access to the house.
The goal of a home insurance company is to give a homeowner the peace of mind that they are safe in their homes. With the help of smart technology, they can achieve that goal as well as lower their rates when there are fewer claims.