Liberty Mutual Insurance has collaborated with Moen, a specialist in home water systems, to offer policyholders discounts and installation programmes on the Moen Flo Smart Water Monitor and Shutoff devices.
Moen’s technology is claimed to reduce water damage claim frequency by up to 96% and decrease household water waste by 90% from preventable leaks.
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The Flo Smart Water Monitor and Shutoff system is designed to track the water pressure and flow rate within a home’s pipes and to detect leaks.
Upon identifying a leak, the system sends an alert to the user through the Moen Smart Water Network App, which allows the homeowner to remotely turn off the water.
In the event of a severe leak, the device can automatically shut off the water supply to avert damage.
Homeowners can also monitor their water usage by individual fixtures and set goals for water conservation within the app.
Moen affinity partnerships vice-president Jeff Barnes said: “Water damage is costly. It is estimated that insurers pay out over $15bn in water claim damages annually, many of which are due to water leaks. These types of events account for 24% of all homeowner insurance claims. By encouraging the use of Flo smart leak detection, Moen can help insurance companies reduce water damage claims caused by water leaks and alleviate costs associated with those claims.”
In 2022, Moen launched its Smart Water Network, a suite of connected water products aimed at enhancing consumer oversight of home water usage.
Headquartered in Boston, US, Liberty Mutual employs more than 40,000 people in 29 countries and economies globally.
The company offers a range of insurance products and services covering commercial automobile, commercial multiple-peril, commercial property, general liability, homeowners, personal automobile, reinsurance, specialty lines, surety and workers compensation.
