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The Smart Money: How Smart Homes Are Reshaping the Insurance Industry

January 22, 2024

home automation

SecurityInfoWatch.com

smart energy devices

According to Parks Associates research, 42% of U.S. households have at least one smart home device, and the highest adopted device is the video doorbell – now in 20% of U.S. internet households.

Currently, only 10% of households own a smart smoke/CO detector, and only 3% own a smart water leak detector.

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In Parks Associates’ Q2 2023 survey of 8,000 internet households, 64% were homeowners and 58% reported having a homeowner’s insurance policy. Overall, roughly 90 million U.S. internet households have a homeowners or renters insurance policy.

From the article, "The Smart Money: How Smart Homes Are Reshaping the Insurance Industry" by Elizabeth Parks

Previously In The News

New Research Indicates 13M US Internet Households Have Entered Smart Home Market Since 2020

Parks Associates has released a new white paper, Smart Home Evolution: Unlocking Value, in partnership with the Connectivity Standards Alliance (CSA). This new research explores the progress of th...

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A 2015 study from Parks Associates indicated that 35% of smartwatch owners in the U.S. would be willing to share their data in exchange for a health insurance discount. From the article, "Your Sma...

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A June report by Parks Associates and Resideo Grid Services found that although smart thermostat adoption has doubled in eight years to reach 16% of households with Internet access, only about 20% of...

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According to Parks Associates, growing piracy rates mean that content providers are expected to lose a total of over $113 billion to piracy by 2027 in the US alone. From the Broadpeak press releas...

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