Your work as a home automation company makes your clients’ homes safer, streamlined and more efficient. Which means that the work you do on people’s homes and in them leaves you open to the possibility of client injuries and property damage. Make sure you’re protected with home automation company insurance.
Statistics and Trends in the Home Automation Industry
As you know, smart home product and installation sales have been steadily increasing in recent years. The following statistics reported by Newswire.ca, based on a study by Rakuten Canada, may be of interest to you:
- approximately 27% of Canadians own at least one smart home device
- 61% of Canadian consumers have a generally positive impression of home technology
- Primary concerns for Canadian customers who purchase smart home devices include price (76%), quality (69%), usefulness (61%), reviews (47%) and privacy/security (46%)
- 83% of Canadian women and 76% of Canadian men only purchase technology products when they are on sale
- 68% of home automation shoppers report that they find better deals online than in stores with 48% saying they find a better selection online and 44% preferring to shop online for smart home technologies because of customer reviews
- 46% of Canadian customers are unlikely to purchase smart home technology with 68% of them thinking it unnecessary, 40% citing privacy concerns and 36% feeling it too expensive
According to the study, these are the smart home technologies Canadian homeowners are most likely to buy:
- Smart home assistants – 55%
- Smart appliances – 38%
- Lighting control systems – 37%
- Cameras and security systems – 36%
- Programmable thermostats – 31%
- Home audio devices – 28%
- Smoke and carbon monoxide detectors – 26%
- Home theatre systems – 25%
Home Automation Company Insurance – Who is it for?
If your business installs:
- Personal voice assistants that can perform searches, purchases, play music and more
- Smart-home stereo systems that are controlled via mobile apps
- Lighting systems that can also be controlled remotely through a mobile application – often over long distances and that are programmable to turn on and off, giving the impression of people moving from room to room throughout a home
- Smart appliances such as refrigerators that allow users to make purchases, play music and set reminders
- Automated thermostats, water heaters and more that provide integration and energy efficiency
- Smart lock, doorbell cameras and speakers that allow homeowners to remotely monitor their home’s entrances and communicate with couriers and potential burglars/vandalizers
- Automated and integrated security systems including alarms systems, CCTV monitoring devices and recording and police, fire and ambulance notification from anywhere in the world
- Interior camera systems such as pet and babysitter monitors that are accessible remotely
- Gas leak, carbon monoxide, smoke detectors and other automated safety monitoring systems controlled through mobile apps
or if you install any other smart home system and devices, a business insurance can help protect you from liability and business losses.
Home Automation Company Insurance Coverages and Benefits
These are some of the standard coverages that can be included in your insurance package, each type of coverage can be customized to meet your company’s specific needs:
Commercial General Liability Insurance is a standard commercial liability coverage that protects your business from legal liability by covering your costs to defend lawsuits alleging personal injury, property damage, false advertising and libel/slander. It can also cover the costs to settle a claim out of court or judgements awarded against your business.
Commercial Property Insurance – whether you lease or own a shop or work from a home office, your property is vulnerable to burglary, fires, floods, water leaks, earthquakes, windstorms, sewage backups and more. Commercial property insurance can cover the costs to repair or replace your building, equipment, parts, tools, supplies and other business assets. You can also include Business Interruption coverage which reimburses you for lost income due to an insured peril.
Commercial Auto Insurance / Commercial Vehicle Insurance is required throughout Canada for the trucks, vans and other types of vehicles used for business.
Why Choose ALIGNED?
Simply put, we save you time, money, the hassle of shopping around for the best rates and commercial insurance is what we do – we know how to ensure that your business is fully protected based on its unique needs. When you choose ALIGNED, you get an advocate who specializes in commercial insurance coverage searching through Canada’s top insurance companies to get you comprehensive home automation company insurance that covers your liability risks at affordable rates. Contact an ALIGNED advocate to get a free quote in minutes or get started right away by using our free online tool.