When most people think about home protection, the first thing that comes to mind is a home fire and burglary security system. There’s so much more that can happen to a home, though, than burning and theft.
According to ISO/Verisk about one in 50 insured homes has a property damage claim caused by water damage or freezing each year. These claims cost insurers about $9 billion a year. The average water damage claim costs about $8,860.
Flo Technologies, Inc., a company on a mission to prevent costly water damage in homes around the country, offers its own reimbursement program, HomeProtect. The program will reimburse homeowners for their insurance deductibles if their Flo-equipped home suffers major water damage.
Gabriel Halimi, CEO and Co-Founder of Flo Technologies, says: “Water damage is the leading cause of preventable homeowner’s insurance claims every year, costing over $9 billion annually. We’ve analyzed the results from our diverse customer base and proved our initial hypothesis: The Flo System’s proactive technology helps dramatically reduce the likelihood of water damage. With this data, we can now stand behind our customers in an unprecedented way. We are so confident in the Flo system that we will refund customers’ deductibles in the unlikely event their Flo-equipped home suffers major damage that Flo should have prevented. We are excited to offer our customers this added layer of protection as we further Flo’s mission of preventing costly water damage and water loss.”
For $5 per month HomeProtect subscribers gain an additional layer of protection, including:
- A water damage prevention guarantee: Flo will pay up to $2,500 for out-of-pocket homeowner’s insurance deductible (details)
- Proactive Monitoring by Flo’s experienced support team, as well as Live Chat Support
- Access to Flo’s Water Concierge to answer questions about your home’s water system and help resolve water and plumbing issues (whether or not the issues involve the Flo System)
- An extended 3-year product warranty
- Access to enhanced analysis and information about water usage, including usage per water fixture (currently in beta)
- A Flo Certified Letter for Insurance that may help reduce monthly homeowners insurance costs (depending on your insurance provider)
- Access to the Flo Standard Plan, which comes with every Flo device purchase
Using FloSense technology, the smart home device applies machine learning and artificial intelligence to learn users’ daily behavior, and sends alerts about abnormalities via the free iOS and Android app. Through the app, users can shut off the water, get troubleshooting tips, or contact Flo Support. Plus, Flo’s MicroLeak technology runs daily proactive tests, identifying and notifying users of tiny leaks that would otherwise go undetected. The Flo device has already helped U.S. homeowners save over 1 million gallons of water.