1.Alarm System: Insurance companies like to insure homes that are well protected. Installing an alarm system not only will help to keep you and your family safe, it may also be the source of a premium discount. Talk to your insurance company and let them know that you have a functioning alarm system for your home.

2.Smoke/Carbon Monoxide Detector: Proving to your insurance company that you are doing what you can to protect your home and prevent losses bodes well when it comes to premium discounts. Let them know that you've got working smoke and/or carbon monoxide detectors.

3.Loss Proof your home: Insurance companies have loss control services. Talk to them to find out what else you might be able to do do loss proof your home. For instance, installing windows that are better resistant to windstorms may earn a discount.

4.Know Your Coverages: Be aware of the difference in policy risks. A policy that is written on an ‘All Risk' basis will be more expensive than an ‘Named Peril' policy. All risk will cover you for all risks except for those excluded by the policy. Named peril will only cover you for those perils specifically outlined on the policy. All risk is more expensive than named peril because it covers more.

5.Quit Smoking: Smoking is a leading cause of fire related deaths. Insurance companies offer a lower rate to households without smokers.

6.Group Plan: If you are a member of an association, such as a business or an alumni organization, you will benefit from a lower rate if you purchase your insurance as part of the group.

After completing the self-audit, make sure you get quotes from more than one company. Shop around.