These valves do actually shut off water when they detect a leak, and most people report they work as advertised - the main catch is whether you're comfortable with the upfront cost and whether your plumbing setup makes installation straightforward or complicated. Before jumping in, are you looking at these mainly for peace of mind while away, or have you already had leaks in your house? And do you know if your main shutoff is easily accessible, or would the plumber need to do some rework?
Installation typically runs anywhere from $800 to $2500 depending on your setup and local labor costs, plus the valve itself is usually a few hundred dollars. The reliability part is solid for most brands, but you'll want one that doesn't require constant wifi fussing - check reviews on whether people are dealing with false alarms or connectivity headaches, because that's where the real frustration happens.