Connected devices are changing the home insurance market.
It is not only home owners and occupants of Smart homes that think they are the best thing since sliced cheese. Insurance companies also like Smart homes.
A smart home is full of sensors that can alert you when a water pipe has burst and maybe automatic shut off the water supply or when there is a power failure and switch over to a backup generator. They can also detect intruders and let the relevant people know that there are people in your house without your approval, with the necessary video feeds to help them make immediate decisions as how to handle the situation.
Insurance companies start to realize that they can also use this information to calculate a cheaper rate because all this sensors/information at the correct time and with the correct people, will reduce their risk considerable.
To read more about this topic you can go to 6 ways your smart home will cut costs.