Frontdoor and Moen Expand Relationship to 6 Additional States, Helping Homeowners Prevent Water Damage Across 14 States
Partnership expansion helps homeowners easily identify installers for the Moen® Flo Smart Water Monitor and Shutoff, enhancing proactive leak detection
Frontdoor, Inc. (NASDAQ:FTDR), the nation's leading provider of home warranties, today announced it has expanded its agreement with Moen, a leader in water experiences in the home, to install the Moen® Flo Smart Water Monitor and Shutoff, an automatic water shut-off valve, in the homes of customers who purchase Flo as part of certain marketing programs with home insurance providers in six new states – Connecticut, Illinois, Kansas, Michigan, New Jersey and Tennessee.
The latest expansion – bringing the total number of states to 14 – began January 31. The eight states previously announced are California, Arizona, Utah, Idaho, Oregon, Texas, Georgia and South Carolina.
"We are delighted to expand our agreement with Moen even further," said Frontdoor, Inc. Chief Revenue Officer Kathy Collins. "This relationship continues to be a great example of how we are able to leverage our nationwide network of independent contractors to drive on-demand revenue. We look forward to other opportunities with Moen going forward."
"Our goal is to reduce insurance claims related to catastrophic water damage from residential leaks. The Moen device offers an AI-driven solution that has been shown to reduce 96% of all non-weather water insurance claims," said Jeff Barnes, vice president of business development for Moen. "The further expansion of our relationship with Frontdoor allows us to offer Flo with installation bundled into one price to even more homeowners."
The Moen Smart Water Monitor and Shutoff continuously monitors the pressure and flow rate of the water moving through a home's pipes, detecting leaks as small as a drop per minute with Microleak™ Technology – anywhere in the home. If the device identifies an issue, it will promptly send an alert through the Moen Smart Water App, enabling users to turn off the water, or in the event of a catastrophic leak, it will automatically shut off the water to prevent major damage. Homeowners also can track water usage by fixture and set conservation goals within the app to further support water-saving efforts.
Under the agreement, in addition to performing the installations, Moen Flo customers will receive a Frontdoor Unlimited membership free for a full year.
For more information on the Moen Smart Water Monitor and Shutoff, go to Moen.com/Flo. For information on partnering with Moen, email [email protected].
About Frontdoor, Inc.
Frontdoor is the industry leader in home warranties and new home structural warranties, and a leading provider of on-demand home repair and maintenance services. As the parent company of two leading brands – American Home Shield and 2-10 Home Buyers Warranty – totaling more than two million members – we bring over 50 years of experience in the home warranty category, a cultivated national network of independent service contractors, and a reputation for delivering quality service and product innovation. American Home Shield, the leader in home warranties, gives homeowners peace of mind, budget protection and convenience, covering up to 23 home systems and appliances from costly and unexpected breakdowns. 2-10 Home Buyers Warranty is the leader in new home structural warranties, providing home builders with coverage for structural failures. These two brands, together with Frontdoor's cutting-edge on-demand services, provide an unbeatable combination that meets the full suite of homeowner repair and maintenance needs. For more information about Frontdoor, Inc., please visit frontdoorhome.com.
About Moen
Moen is the #1 consumer faucet brand in North America, offering a vast array of stylish and innovative kitchen and bath faucets, showerheads, accessories, bath safety products, kitchen sinks, garbage disposals, leak detection products and connected home offerings for residential applications that give consumers more power than ever before to understand and control the water that flows through their homes. These thoughtful designs deliver an exceptional user experience and elevate how people interact with water daily. In addition, Moen® Commercial offers superior-performing products that can deliver lower lifetime costs for today's facilities. Moen is part of Fortune Brands Innovations, Inc. (NYSE:FBIN), a brand, innovation and channel leader focused on exciting, supercharged categories in the home products, security and commercial building markets. Moen anchors Water Innovations (WINN), which also includes several brands under the House of Rohl® including Perrin & Rowe®, ROHL®, Riobel®, Shaws® and Victoria + Albert®. Fortune Brands' other brands include Fiberon® composite decking and railing products; Master Lock®, Yale® residential, August® and Sentry® Safe security products; LARSON® storm doors and Therma-Tru® entry door systems. For more information, please visit www.FBIN.com.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and beliefs, as well as a number of assumptions concerning future events. These statements are subject to risks, uncertainties, assumptions and other important factors. Readers are cautioned not to put undue reliance on such forward-looking statements because actual results may vary materially from those expressed or implied. The reports filed by Frontdoor pursuant to United States securities laws contain discussions of these risks and uncertainties. Frontdoor assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are advised to review Frontdoor's filings with the United States Securities and Exchange Commission (which are available on the SEC's EDGAR database at www.sec.gov and via Frontdoor's website at investors.frontdoorhome.com).
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Media
Tom Collins
901-701-5198
[email protected]
