TORONTO, ON--(Marketwired - December 13, 2016) - Eddy Home, a leader in smart home water technologies, is launching the Eddy IQ in the Ontario market, giving homeowners one-of-a-kind insight into household water usage and time sensitive warnings in cases of common home water emergencies. "Water damage is the single biggest source of homeowner property insurance claims," says Frank Scarano, Director of Programs at Masters Insurance. "As a leader in the Ontario insurance industry, we are very happy to see a smart water leak detection system like Eddy Home available to protect our customers' property," Scarano adds.
The Eddy IQ is a smart meter that learns a household's water usage patterns and monitors for even minor irregularities that could signal a small leak. In addition, homeowners can install Eddy H20 Sensors which track humidity and temperature trends and alert homeowners should flooding occur within the home from leaky faucets, running toilets, broken appliances or bursted pipes. Both products are monitored by a 24x7 Control Centre staffed with water management experts, offering around the clock protection.
"Water conservation has been a hot topic in Canada for years and Eddy Home is being launched with a purpose," said Shawn Dym, CEO and Co-founder of Eddy Home. "Most recently, The Canadian Drought Monitor revealed one part of Ontario experiencing drought so significant, water demands are no longer being met. It's unsettling for sure, but we are pleased to be part of the solution, offering a product that puts knowledge in the hands of the homeowner," Dym adds.
How It Works
If either the IQ or one of the H20 Sensors detects something unusual, an alert is sent to the homeowner via mobile app, text message, and email. If not at home, water can be remotely shut-off by any mobile device, avoiding costly damage. Taking the mobility feature one step further, homeowners can easily dispatch a preferred plumber from the convenience of the My Eddy Home app. To ensure homeowners are always protected, live customer support experts close the loop, and if necessary intervene and shut-off the water on the homeowner's behalf.
Eddy Home is the only smart water meter on the market with:
- remote shut-off capabilities
- minute-by-minute water usage monitoring
- vacation mode setting
- dispatch-a-plumber service
- cellular capabilities
Knowledge is Power
Studies show consumption is reduced by increasing awareness of water usage. The Eddy IQ allows homeowners to easily track daily water usage, bill cycles and yearly water usage allowing them to recognize patterns in family water consumption. It also converts usage into cost, so families know how much they are spending on water.
"To make water management and conservation fun, we've introduced 'Challenges' to our mobile application to help customers become water wise," said Dym. "Prizes in the form of gift cards are awarded to customers who complete special challenges, and conserve significant amounts of water."
In addition, often times, the service pays for itself. According to Bentall Kennedy Forever Green, a leak of one drop of water per second wastes approximately 10,000 litres of water per year, which equates to about $509/year. An average family of four can save up to $525/year with the Eddy IQ. Homeowners may also receive discounts on their annual home insurance policy from their home insurance provider. According to Scarano, "Masters Insurance is proud to be able to offer homeowners a discount on home insurance for employing innovative new technologies like Eddy Home."
About Eddy Home
Founded in 2015, Eddy home is headquartered in Toronto. The smart meter comes with a free installation, and a low monthly monitoring and service fee to ensure homes are always protected from water damage. Eddy home is currently available in Ontario, Canada and scheduled to be rolled out to the rest of North America in 2017.
For more information on Eddy Home, visit: http://eddyhome.com