Lowe’s is making the Iris Smart Home System a little smarter. The company just added the Smart Valve by Waxman to the system’s list of compatible devices. It’s a new device that combines a water leak detector with a temperature sensor.
Just connect the Smart Value to the Iris and it will help minimize any water damage, in case of an emergency. This time of year, pipes often freeze when the temperature dips — and can cause major problems. The Smart Value can actually shut off the water supply if a leak is detected or the temperature drops too low.
According to the 2014 Insurance Fact Book from the Insurance Information Institute, water damage and freezing account for 22 percent of all homeowner insurance claims, with the average cost exceeding $7,000. Companies like Liberty Mutual Insurance are actually offering discounts to customers willing to take a step to prevent such disasters.
“Liberty Mutual Insurance is committed to helping customers live safer, more secure lives, and self-monitored, smartphone-enabled, water damage mitigation devices help achieve that goal. The ability to immediately detect and automatically take steps to stop water leaks with affordable solutions is an exciting advancement in smart technology,” said Michael Robon, senior VP of Liberty Mutual Insurance. “Preventative technologies like the Smart Valve can significantly reduce the risk of water damage to one’s home from undetected leaks. This provides greater peace of mind by enabling early detection and minimizing damage. Liberty Mutual Insurance embraces these new technologies and believes customers who use devices like these to proactively protect their homes should be rewarded for this behavior. This is why we are rolling out Smart Home discounts to many states, including specific discounts for water mitigation devices.”
Lowe’s is selling the Smart Value now, with an MSRP of $159