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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

Building the Future with Smart HVAC and Plumbing Technologies

According to Parks Associates' Smart Home Dashboard research, 45% of U.S. internet households have at least one smart home device, reflecting a growing demand for intelligent, connected systems. Fr...

Nearly Half of U.S. Households Own and Use Wearable Devices

A recent consumer study conducted by Parks Associates reveals that nearly 50% of U.S. internet households now own and actively use wearable devices, underscoring the growing demand for health and safe...

EV owners also use smart home tech

As electric vehicles continue to gain traction, a recent study from research and consulting firm Parks Associates found a growing trend among EV owners: A strong inclination toward adopting smart home...

Need to Know: Why do we need cross-media measurement?

According to research firm Parks Associates, the average U.S. household with internet access owns 17 connected devices. Even if we strike security cameras and wearables from the list, that’s a lot of...

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