Insurance

Mercury Insurance coverage Water Leak Detection Program Goals to Save Water and Cash for California Householders throughout Historic Drought

March 10, 2022

In partnership with Flume, Mercury will present house owner policyholders with a wise residence system and low cost that may assist stop water waste and monitor water utilization

LOS ANGELES, March 10, 2022 /PRNewswire/ — Mercury Insurance coverage (NYSE: MCY) introduced will probably be subsidizing the price of good residence water monitoring units from Flume, offering California house owner policyholders a strategy to monitor their water utilization and stop pricey leaks. This water leak detection program is designed to assist householders save water and cash throughout the ongoing drought.

“Small leaks in your house’s pipes and irrigation system may end up in an unbelievable quantity of wasted water,” stated Mercury Insurance coverage Product Supervisor for California, Adam Bakonis. “Water leaks are preventable and the hot button is catching them early to reduce the harm. That is achievable by means of our partnership with the Flume, a easy water leak detection system householders set up that may uncover giant, small and in some circumstances, hidden leaks.”

On common, greater than 40% of a house’s premium in California is attributable to the danger of water harm. Resulting from a water loss, householders might lose entry to their kitchens or bogs and, in some circumstances, have to maneuver out completely for months.

Putting in the Flume system will assist mitigate water loss earlier than extreme harm to the house can happen. Flume works with just about any water meter and is definitely self-installed in minutes. Together with the corresponding app, customers are capable of view and monitor indoor and outside water use from wherever, at any time. This elevated visibility offers full residence safety by catching and alerting customers of leaks as they occur, inside and outdoors of the house. The usage of Flume merchandise may end up in decrease water payments and the avoidance of doubtless catastrophic property harm as a result of leaks.

“Ten months after putting in a Flume system, considered one of our policyholders was out of city when a leak discover was triggered. They referred to as a pal and requested them to examine on the house,” stated Bakonis. “A provide line ruptured and flooded the primary flooring. Although there was harm, the loss would have been worse if the leak had not been found till the individual returned residence. A major quantity of further water would have escaped if mitigation efforts began late, making a possible influence over a bigger space which may have resulted within the removing of extra supplies and doubtlessly extra disruption for the insured.”

Flume digitizes 4.9 million gallons of water per day, and insights from the good water detection system has discovered that:

Greater than 34% of Flume customers discover a leak inside one week of set up of the system
Greater than 70% of all Flume customers discover a leak over time
Flume clients cut back water consumption by at the very least 10% 12 months over 12 months after set up
66% of Flume customers are capable of cut back their water invoice
80% of Flume customers have been extra conscious of their water use after putting in Flume and said that Flume modified their water conduct

After a $99 on the spot rebate from Mercury, policyholders pays simply $50 at checkout (plus tax and transport) and they are going to be eligible to obtain a further rebate of $25 after putting in Flume. This brings the online value all the way down to $25 (plus tax and transport).

Following are key advantages from Mercury’s water leak detection program:

The territory and age of a house are main components for susceptibility to water leaks. In the course of the previous decade, Californians have seen their residence values improve at a historic fee. In accordance with the actual property trade commerce publication, “Realtor Journal,” the median California residence worth is projected to develop to greater than $1 million by September 2030¹. The present and future investments of many householders, nevertheless, could also be in danger. When promoting a house, water leak harm have to be disclosed to potential consumers. California’s getting older houses are a number one reason for concern as Mercury, one of many largest carriers within the Golden State to supply a water leak detection system low cost, stories practically 50% of single-family houses it insures in California are greater than 50 years previous, with Southern California skewing the oldest (75% of Los Angeles County; and 55% of Orange County). Nevertheless, Mercury advises householders that water leaks start to happen effectively earlier than the half century mark.

California’s ongoing drought is a motivating issue to take motion. Gradual dripping taps or irrigation techniques solely heighten the seriousness of California’s ongoing drought. Whereas many imagine their residence water provide system is leak-free, the typical family’s leaks can account for practically 10,000 gallons of water wasted yearly, and 10% of houses have leaks that waste 90 gallons or extra per day, in response to the EPA². Some California water districts are providing rebates for the set up of water leak detection and shutoff units³. “Our program, mixed with California water district rebates, means some householders could also be eligible for rebates that will cowl your entire value of those units and their set up. Not solely is our program good for the surroundings, however leaky taps getting the eye they deserve will save householders cash on their water invoice and insurance coverage,” stated Bakonis.

Flume presents 24/7 monitoring, leak alerts, and utilization information that enables customers to know precisely the place their water goes, indoors and out, and evaluate water utilization and financial savings with neighbors.

Mercury Insurance coverage has a broad array of elective coverages to guard towards exposures confronted by right this moment’s householders, together with House Methods Safety, Service Line Safety, Identification Administration Providers and House Cyber Safety. Mercury’s water leak detection program is obtainable at https://www.mercuryinsurance.com/leak-detection/ or by contacting a Mercury agent.

About Mercury Insurance coverage
Mercury Insurance coverage (NYSE: MCY) is a multiple-line insurance coverage provider predominantly providing private auto, householders, renters and business insurance coverage by means of a community of impartial brokers in Arizona, California, Illinois, Georgia, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia, in addition to auto insurance coverage in Florida. Mercury writes different traces of insurance coverage in numerous states, together with enterprise homeowners and enterprise auto, landlord, home-sharing, ride-hailing and mechanical safety insurance coverage.

Since 1962, Mercury has offered clients with super worth for his or her insurance coverage greenback by pairing ultracompetitive charges with glorious customer support. Mercury has earned “A” scores from A.M. Greatest and Fitch, in addition to rating highest within the J.D. Energy 2021 U.S. Insurance coverage Digital Expertise Examine^SM and 4 consecutive “Greatest Auto Insurance coverage Firm” awards from Insure.com. For extra info go to https://www.mercuryinsurance.com/ or observe the corporate on Twitter or Fb.

About Flume
Impressed by California’s document drought, Flume empowers householders to raised perceive their utilization and preserve water. By offering real-time water use info, Flume protects the house, places the ability of water consumption and conservation within the buyer’s arms, and improves the connection with our most treasured useful resource. The Flume® Good Water System consists of an easy-to-install sensor that adapts to most present residence water meters, which communicates water use to the house owner in real-time. Thus far, Flume has tens of hundreds of units put in throughout america. Study extra at flumewater.com