Stand and Moen launch smart water leak program with insurance discounts

Stand Insurance Solutions and Moen have launched a program that links Moen’s Flo smart water shutoff device with homeowners insurance discounts, giving policyholders financial incentives to reduce the risk of water damage.

Policyholders who activate and maintain a Moen Flo Shutoff device will be eligible for premium discounts. Stand will also waive its limited water endorsement requirement for certain older homes without recent plumbing renovations if the device is installed and activated.

The Moen Flo system monitors water pressure and flow and can automatically shut off a home’s main water supply when it detects a catastrophic leak or burst pipe. Stand said it will incorporate the device’s data into its property-level underwriting and risk assessment.

Customers can either purchase the device and installation outright or finance it through a 36-month subscription costing less than $25 per month. As part of Stand’s Florida launch, the first 500 policyholders who enroll will receive a $49 credit toward the subscription activation fee in addition to annual insurance premium savings.

Stand underwrites policies through Concert Specialty Insurance Company in California and Stand Insurance Exchange in Florida.