A new study has found that a majority of policyholders would not install smart home devices or have a data-sharing device installed on their vehicle just to get a discount on their insurance premiums.
New technology can monitor your driving habits in real time — and many insurance companies offer savings to customers who install these devices in their vehicles.
As well, some insurers are now offering homeowner’s and renter’s insurance discounts for people who install smart home devices, like those that can detect water leaks, alarm sounds, extreme temperature changes and doors and windows opening.
The results of the survey by Policygenius show that policyholders don’t want their insurer or other entity collecting too much data on them.
While discounts for these devices in homes and cars are not yet ubiquitous, they are gathering steam. For the budget conscious, a discount in exchange for some amount of tracking may be appealing. Policyholders Wary of Smart Devices with Insurance Discounts