The insurer recently announced an investment of $1.2 billion into the security company. State Farm recently announced that it has invested $1.2 billion into the ADT Inc security company, for approximately 15 percent equity and a move to support new home insurance advancements. The partnership between the two companies allows the insurer to imagine new forms of coverage. By working with ADT security, State Farm will be looking into ways to innovate the home insurance experience. This could include new applications for Smart Home technology to be applied to property…Read More
Tag: home security
Homeowners insurance industry isn’t impressed with smart homes
Despite the claims device makers have made about improved security, insurers aren’t lowering bills. The smart home device market has led to millions of dollars in sales but has not managed to impress the homeowners insurance industry. Americans have been buying WiFi connected smoke detectors and security cameras in droves. However, home insurance companies aren’t yet convinced that they are worthy of premiums discounts. A traditional smoke detector may bring savings to many homeowners, but more recent gadgets are still unproven. With the average rates across the homeowners insurance industry…Read More
Is homeowners insurance Google’s next move, following its Nest announcement?
The new security cameras could represent an important new step into this market for the company. There hasn’t been very much news about Nest since Google acquired in for $3.2 million back in January 2014, but now it is being seen as Google’s first step toward a larger homeowners insurance play as the smart gadgets company announces some new devices. Though the company is best known for its “learning thermostat” it is home cameras that are now being watched. Nest has now held its first press conference in order to…Read More
Could Insurers Refuse Payment for Unlocked Homes?
If you’re leaving your home for just a few minutes, it can be tempting to not bother to lock up while you pop over to the store or collect the kids from school. However, literally anything can happen in that period, and a recent rise in the number of insecurity burglaries—thefts from unlocked homes—could eventually mean that any subsequent insurance claim becomes invalid. Stretched Resources All across the world, police forces have their resources stretched by local crime, and one unit in the UK is clearly getting tired of dealing…Read More
Burglary risk can be reduced with a security system
The Associated Press has reported that burglaries in American homes are on the rise, as thieves seek to obtain items made out of gold, which achieved a top price of $1,891 per ounce last month. Gold jewelry such as chains, pendants, earrings, bracelets, and rings, are all very easy to carry and can be sold in a melted form so that they don’t leave any trace as to their source. The same cannot be said about laptops, televisions, and other electronics. In order to reduce their vulnerability to this trend,…Read More