The insurer hopes the collaboration will help customers to decrease the risk of water leaks
US insurer Mercury has announced that it is keeping up its partnership with Flume Water Monitor to support its home insurance policyholders.
This announcement was made during Fix a Leak Week
Flume Water Monitor, a leading smart water loss prevention tech company, offered additional savings to Mercury’s home insurance customers throughout that week. Policyholders were offered Flume at a discount of 25 percent off. Moreover, in certain qualifying states, the insurer also gave discounts on premiums following the installation of the device and will keep those rate reductions in place for as long as the property owner keeps the device active.
“We are excited to continue this partnership with Flume,” said Mercury Senior Project Manager Adam Bakonis. “Water leaks are the leading cause of non-weather-related homeowner losses. Saving our customers money while providing them multiple layers of protection means we are doing our job.”
The Smart Home Water Monitor from Flume is compatible with approximately 95 percent of US residential water meters. It is installed by being wrapped around the home’s water meter and reporting precisely how much water is being used. Installation takes about 10 minutes and can be done by the home owner.
Once installed, the device monitors water usage and assists in preventing or reducing water leak damage. Once the device detects a leak, it notifies the property owner on their phone.
Finding a leak within a month
According to Flume, 70 percent of its device users locate a leak within the first month of using the device. Moreover, 10 percent of homes with a leak are wasting over 90 gallons of water per day – an amount that can clearly lead to substantial damage over time.
The associated app allows Mercury homeowners insurance customers to monitor their water usage both inside the home and outside. It provides real-time alerts of abnormal water usage detection, using machine learning to gradually raise efficiency. Based on that information, the app also provides consumers with helpful strategies to use their water more efficiently.
