Homeowner's insurance premiums vary depending on a number of different factors, and you can save money on your premiums by selecting homeowner's insurance from the following areas.

  First, consider homeowner's insurance when you buy a house.

  If your home is near a fire hydrant or in a community with a professional fire department, you may be able to pay less for insurance. In addition, if your home's electrical, heating and plumbing systems are less than ten years old, it will be cheaper to have insurance.

  Choosing the right home can reduce your premiums by 5% - 15%. Before deciding to buy a home, be sure to carefully review the home's past complaint history report. These reports contain a history of property insurance claims and can help you identify possible problems with your home. Help you save a fortune.

  Flood and earthquake damage are not included in standard homeowners insurance. Therefore, if you purchase a home in a flood-prone area, you will need to purchase additional flood coverage averaging $400 per year.  

  Most insurance companies usually offer separate earthquake coverage, and the cost depends on the likelihood of an earthquake in your area.

Second, shop around.

  It takes time, but it can save you a lot of money. Asking for a price will not only help you understand the details of the terms and conditions of your insurance policy, but it will also help you understand the quality of each insurance company's service and get you the best homeowners insurance policy for you.

  Third, raise your deductible.

  The deductible is the amount of damage for which the homeowner is solely responsible before the insurance company begins to file a claim. Most insurance companies now recommend a $500 deductible, but raising your deductible to $1,000 can save you about 25 percent on your insurance costs.

  However, if you live in a disaster-prone area, it is recommended that your insurance policy include a separate deductible for these specific types of damage.

  Fourth, don't confuse the purchase price of your home with the cost of rebuilding.

  The land beneath your home is free from theft, storms, fire and other risks included in the terms of your homeowners insurance policy. So don't include the value of the land when deciding on the amount of coverage, or you'll pay a higher premium.

  Fifth, increase your home's resilience to disasters.

  Examples include adding storm shutters, reinforcing the roof and renovating older homes to save on premiums. In addition, fire and flood risks can be reduced by modernizing heating, plumbing and electrical systems.

Sixth, improve home security.

  For example, by installing smoke alarms, burglar alarms and security locks, you can get a discount of about 5% on your premiums.

  Some insurance companies are even willing to offer discounts of 15 - 20 percent on premiums in the hope that you will be willing to install advanced sprinkler systems, as well as fire and burglar alarms that notify police, fire or other monitoring stations in case of an emergency.

  However, such systems are usually not cheap, and not every system is discounted, so do your own calculations and find out which systems your insurance company supports before making a decision.

  Seventh, a good credit history.

  Building a solid credit history can lower your insurance costs.

  Insurance companies are increasingly using credit information to price homeowners insurance. In most states, your insurance company must notify you promptly of any adverse measures, such as higher rates, and you should also verify the accuracy of the information provided by your insurance company.

  To maintain your credit levels, you should pay your bills on time, avoid unnecessary loans, and keep your credit balances as low as possible. Keep your credit history accurate by checking your credit history regularly and correcting errors promptly.

  With the exception of homeowner's insurance, you can lower your premiums no matter what type of insurance you choose, as long as you have a good credit history.



  Eighth, become a regular customer of the insurance company.

 If you have been with the same insurance company for several years, you may be eligible for a special discount as a long-term policyholder.

  Typically, if you have been with the insurance company for 3-5 years, you will receive a 5% discount on your premiums; if you have been with the insurance company for more than 6 years, you may even receive a 10% discount.

Ninth, linking home and auto insurance together.

  If you buy home and auto insurance from the same insurance company, the insurance company will usually offer a 5% to -15% discount on your premiums.  

Tenth, learn about other discounts.

  Insurance companies often offer several types of discounts, but not all states offer the same discount or the same amount of discount.

  For example, retirees often stay in their homes longer, reducing the risk of burglary or early detection of fire. Some insurance companies offer partial premium discounts for retirees over the age of 55.

  In the end, this is just food for thought and your specific choices will need to be analyzed.