Smart Water Leak Detectors: The Impact of IoT on Home Insurance

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With the endless amounts of technology available to us, why not invest in something that will save your home, belongings, and wallet from damage? Smart water leak detectors are a great IoT addition to your home to help avoid paying out-of-pocket for burst pipes and flooding. 

What is IoT? 

The term IoT, or the Internet of Things, refers to the network of connected devices and the technology that creates communication between them. It also includes the devices themselves. The Internet of Things connects everyday things to the internet. As computer chips began to get smaller, the capability of adding them to simple objects became more and more attainable. Now, there are options for your home to be completely connected to the internet. 

What IoT Devices Are There for Homeowners Insurance?

Smart home devices are available throughout your home. Their primary focus is to improve the efficiency and safety of your home and home networking. There are intelligent light switches, doorbell cameras, and locks you can control from your phone. There are even water leak detectors to prevent expensive damage to your home. 

How do Smart Water Leak Detectors Work?

Smart water leak detectors monitor water flow through either a mechanical turbine or ultrasonic wavelengths. Some leak detectors cut off the water when it detects the presence of moisture. If you had a leak under your sink, the detector would trigger a mechanical valve blocking water flow once it feels the moisture. Leak sensors observe the water flow pattern by counting the gallons that pass through the sensor or recording the time delay. Whole-house leak detection systems tend to track water usage to detect potential leaks. 

Mechanical Smart Water Leak Detection Systems

Mechanical leak detection systems physically track the water flow. An impeller counts the gallons as they pass through the device. As the water flows, the blades of the impeller spin, record the amount of water, and communicate it to the system. Water usually comes in intervals, like when doing laundry or brushing your teeth. The system tells you there is a leak if it senses a constant water flow. 

Ultrasonic Smart Water Leak Detection Systems

Ultrasonic waves detect irregular water patterns in your pipe and communicate that information to your Wi-Fi router and phone. The most significant advantage of ultrasonic leak detection systems is the lack of pressure drop. The unit is in line with your plumbing, ensuring no change in water pressure. 

Why Should I Use A Smart Water Leak Detector?

With the rising trend of non-weather related water damage comes the need for water leak detectors. According to Chubb’s 2021 Homeowners Risk Report, over 44% of homeowners had water damage, up from 27% in 2020. Water damage has risen in homes due to several things. The main reasons are higher amounts of water exposure and the housing rush.

FAQs about rising water damage

What Does Higher Amount of Water Exposure Even Mean?

Higher amounts of water exposure refer to the amount of water-based amenities people add to their homes. Recent trends of self-care and luxury lead to a rise in soaking tubs, saunas, and steam showers added to more and more homes. People enjoy these newly-added luxuries and deserve it! To add water-based amenities to your home, you must add new water lines. The more water lines from brand new laundry rooms, ice makers, and spa add-ons raise the potential for something to go wrong. 

How Does the Housing Rush Cause More Water Damage?

The continuation of high real estate markets means people have to make house decisions even faster. There is not enough time to get to know your house before you start moving in and using all of your new-to-you features. Not knowing the water exposure limits of your home can lead to water damage. An automatic water shutoff device can save you hundreds if not thousands in damages.

Another reason to install a smart water leak detector is that with water comes mold, and mold can lead to serious health risks. Small leaks left unattended can lead to mold infestation, and the spores could make you and your family very sick.

How Does A Smart Water Leak Detector Impact My Homeowners Insurance? 

Smart Water Leak Detectors are a great way to save thousands on home insurance claims. Fixing water damage is not cheap and can lead to replacing floors, walls, and electrical. That doesn’t even include the personal property you can lose from water damage!

Insurance companies may even pay you to install water detectors in your home. But why? Well, not only does it save you money, but it saves them money from paying out your claims. A considerable interest of insurance companies is making sure they lower high-ticket claims. They can save thousands, and so can you!

Suppose your provider does not offer compensation for the device. In that case, some devices partner with insurance companies to help you lower your premium. Once you find a water detection system you like, see if they can get you a discount. There have been discounts up to 13% on annual premiums. 

What Other Devices Are There For My Home?

If you are all for the IoT way of life, there are many fun additions to your home. Hand-in-hand with water leak detectors, humidity detectors, and heat and freeze sensors. These devices can give you peace of mind in your home and prevent expensive damage. 

Humidity detectors are an excellent addition to your home because high humidity can lead to mold and mildew. The mold damage can ruin the walls of your home and make you and your family sick. These devices tell you the humidity level in your home and compare it to the average amount. It uses data collected over time to determine what the average humidity is in your home.  

Heat sensors are an alternative method of detecting fires. They are helpful in dusty and difficult-to-access areas- like attics, crawlspaces, or garages- without providing false alarms. It works by detecting sudden increases in temperature and alerting through sound or an app.

Freeze sensors gauge your home’s temperature and alert you when it drops below a safe temperature. This addition will protect your home from experiencing a pipe burst during colder months. Frozen and burst pipes are disastrous to your house, and having a device to alert you of when there is potential danger could save you tons in damage costs. 

Picking Out the Right Insurance with TGS!

The world of homeowners insurance can feel never-ending. Here at TGS Insurance, we aim to help you find the right policy for your needs at a price that doesn’t break the bank. Whether you want to add all the newest home-improvement technologies or keep it simple, TGS can help you! Have a TGS Insurance agent review your current policy to ensure it meets the specifics you need at the best price.

About Allison Monacelli

Allison recently graduated with a bachelor’s degree in journalism and joined the marketing team at TGS Insurance as a Content Writer. Allison loves producing content that is informative, well-researched and fun to read. In her free time, she loves to do martial arts and hang out with her dog