What is connected home insurance?

What is connected home insurance?

We believe that insurance needs to have prevention at its core. In creating Neos we thought “Wouldn’t it be great if your home insurance was actively there for you – helping prevent serious damage being caused in the first place, instead of just paying out when something goes wrong?”. For us, that’s connected, smarter home insurance in a nutshell.

What does connected home insurance provide that regular insurance doesn’t?

The Great Fire of London in 1666, which destroyed 15,000 homes, was the catalyst for the creation of the regular home insurance product. Back then, and for hundreds of years since, regular insurance has stepped in after a bad event has occurred and provided a source of comfort to those affected by loss and damage to their homes.

At Neos, our forward-thinking approach to home insurance means that in addition to premium home insurance, we also provide the latest technology. Depending on whether you choose our ‘Good’, ‘Better’ or ‘Best’ package,  you’ll receive up to nine wireless smart home sensors (including a wireless indoor camera) and our app – at no extra cost as part of your insurance policy – to detect problems in your home sooner.

The app sends you real-time alerts if the devices detect leaks, fires or intruders and will put you in contact with our home assistance team to resolve the issue quickly, helping minimise the amount of damage caused to your home and helping reduce your chances of losing or damaging the things you love most. Our home assistance team can even arrange for tradesmen to come out to your home, fix the problem and settle the bill ahead of time- up to £1000. Should the worst happen, you’re still fully covered with comprehensive home insurance in the event you need to make a claim.

In an era when we’re frequently commuting, working and vacationing away from home, Neos provides emergency home assistance as standard with our ‘Better’ and ‘Best packages’. Neos smarter home insurance doesn’t just give you free tech for tech’s sake. It gives you a single end-to-end solution for connecting, protecting and covering your home 24/7.

How much extra does a connected home insurance policy cost?

All of the above is offered at no extra cost to the home insurance premium you’re quoted by Neos.

Does data from the connected home devices impact my premium?

We don’t use real-time data from our devices to impact your premium when you purchase or when you claim. We want to create a fairer and more trustworthy kind of insurance and have therefore vowed to not use our customers’ data against them during the claims process. The FAQ section of our site provides more detailed information on how we encrypt and use the data from your home.

Can connected home insurance make your home safer?

We can’t promise that the unexpected won’t happen- technology sadly doesn’t give us Bruce Almighty abilities- but it can help alert you to a problem earlier and stop, for example, your wedding album and those precious family memories from being lost forever.

In the future, we envisage Neos becoming a digital heads-up from your home that can give useful tips and advice to help you make your home more secure. For example, in the future, we could send you an alert that lets you know “Hey last August, it looks like you were only in your home 20% of the time – that’s lower than your neighbourhood average of 35%. You might want to add some smart lighting to your Neos system to make it look like you’re home from work at the usual time.” 

During freezing winter weather as many as 3,500 claims have been recorded for burst pipe damage in a single day…. costing the average household £7,000. As many Neos smart sensors have built-in temperature sensors, in the future we could pre-warn customers whose homes are below 13 degrees that they need to take measures to prevent their pipes from potentially freezing. This could help prevent them from being caught out and having to make a claim for a burst pipe that’s caused by freezing weather. 

If insurance could step in earlier, like in the freezing pipes example, and help reduce the chances of serious damage being caused, then wouldn’t it be far more useful to homeowners and also help make their homes safer? That’s what Neos is on a mission to prove. If you think this sounds like a smart idea, then you can get a quote online and enjoy smart sensors and an indoor wireless camera to help protect your home – all as part of your policy.