The partnership will allow U.S. homeowners to leverage technology-enabled prevention capabilities to help avert unexpected damage to their homes, along with the associated expenses, according to a press release from the two companies.

Homeowners who take advantage of the preferred device packages, which will be announced in early 2024, may also be eligible for a discount on homeowners insurance through Nationwide, helping to offset the cost of the purchase and installation of smart home products.

According to Nationwide’s 2023 Agency Forward survey, homeowners’ leading reason for purchasing smart home products is to reduce anxiety. However, despite water and fire damage causing the highest non-weather-related claims perils for homeowners, more than 90% of those surveyed do not have smart water-leak sensors, and almost 80% do not have monitored smoke or fire hazard devices in their homes.

“Smart home technology presents a tremendous opportunity to elevate protection for our customers by transitioning from a reactive approach to a proactive one, enabling us to predict and prevent losses before they occur,” said Beth Riczko, president of property and casualty personal lines at Nationwide. “Nationwide is proud to be a leader in smart home protection and to partner with Resideo, which has a broad and innovative portfolio of smart home solutions, and a vast customer base that can help us both accelerate learning and value-creation for our customers.”

“We are committed to protecting what matters most and creating new forms of value for our customers,” said Dana Huth, chief revenue officer at Resideo. “Partnering with Nationwide, who has a similar focus and aligned mission, will be an accelerant to meaningful savings of time, effort, and money for U.S. homeowners and residents.”