Security Company Partners With State Farm to Boost Homeowners’ Risk Mitigation

State Farm recently announced that it has invested $1.2 billion into the ADT Inc security company, for approximately 15 percent equity and a move to support new home insurance advancements.

The partnership between the two companies allows the insurer to imagine new forms of coverage.

By working with ADT security, State Farm will be looking into ways to innovate the home insurance experience. This could include new applications for Smart Home technology to be applied to property coverage.

The intention is to improve loss prevention and detection while offering benefits to consumers for reducing the risk of having to make a claim, decreasing overall costs, and improving home security with devices that proactively mitigate loss not only from intruders but also from fire or water damage.