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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.

parks1

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

Why Amazon Is The Current King Of The Virtual Assistants

The smart home market is young, but it's growing rapidly as IoT makes its way into virtually every product that can benefit from some level of connectivity. Smart home device ownership in the United S...

Antenna-Only Homes Have Doubled Since 2013, Parks Says

According to Parks & Associates, that percentage has nearly doubled since 2013, reaching 15% of homes in 2016. “Pay-TV subscriptions have dropped each year since 2014, falling to 81% of U.S. broadb...

Pay TV Loses Ground To Antenna-Only Households

Some 15 percent of US broadband households now get all of their TV from an antenna. That number has increased steadily over the course of five years as pay TV subscriptions have seen a corresponding d...

Amazon Fire TV tops 30 million active users, seeming to beat Roku

The market for video streaming devices is exploding. The number of households with a streaming player has quadrupled in the last five years, according to Parks Associates, and Roku and Amazon have bee...

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