According to FEMA reports, just a few inches of water from a flood can cause tens of thousands of dollars in damage. From 2003 to 2012, total flood insurance claims averaged more than $3 billion per year. Additionally, American homes suffer an unwanted fire every 10 seconds, and every 60 seconds they suffer a fire serious enough to call the fire department.
Iris, a cloud-based platform from Lowe's, can help reduce losses by allowing users to remotely monitor and control home devices, including smoke alarms and water sensors, from anywhere using a smart phone, PC or tablet. Using Iris, consumers can be notified of a water leak or smoke danger, allowing them to shut off the water source or alert authorities to a fire with just the touch of a button.
Because of Iris' ability to help consumers protect their loved ones and property, State Farm will be offering their insurance customers special promotions on the Iris Safe and Secure kit and the Iris Smart Home kit, in addition to providing qualifying customers with discounts on their home insurance.
"Iris offers simple security monitoring solutions for homeowners that can include fire, carbon monoxide and flood sensors to provide users with immediate notification, direct to their smart phone, in the case of an emergency," said Kevin Meagher the vice president and general manager of Lowe's smart home. "Our relationship with State Farm is just another example of how the Iris smart home platform helps make homes safer, more efficient and easier to manage. The Iris platform will continue to evolve as we look to add more devices, products and services to the already growing program."
Iris allows consumers to receive text alerts to when alarms are triggered; remote control of connected devices, thermostats and locks; and access to remote video streaming from cameras in the home via smart phone or computer, among many other features homeowners can add to meet their specific needs. Iris installs easily in approximately one hour and kits start at $179. Basic service is free to consumers, with a premium service offering available for $9.99 a month with no long-term contract.
"As the leading provider of homeowners insurance in North America, State Farm has a keen interest in helping customers prevent loss," said Jack Weekes, Operations Vice President at State Farm. "By teaming up with Lowe's and other home control and monitoring providers, we are helping customers protect their family and property in today's high tech world."
Iris is now available nationwide through Lowe's stores and online at Lowes.com/Iris.
About Lowe's
With fiscal year 2012 sales of $50.5 billion, Lowe's Companies, Inc. is a FORTUNE® 100 company that serves approximately 15 million customers a week at more than 1,825 home improvement and hardware stores in the United States, Canada and Mexico. Founded in 1946 and based in Mooresville, N.C., Lowe's is the second-largest home improvement retailer in the world. For more information, visit Lowes.com.
About State Farm
State Farm and its affiliates are the largest provider of car insurance in the U.S. and is a leading insurer in Canada. In addition to providing auto insurance quotes, their 18,000 agents and more than 69,000 employees serve 81 million policies and accounts – more than 79 million auto, home, life and health policies in the United States and Canada, and nearly 2 million bank accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is also available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 44 on the Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com or in Canada http://www.statefarm.ca.
SOURCE Lowe's
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