Any insurance premium, whether it be travel insurance, pet insurance, or the insurance you buy to protect your home and its contents, is based on risk. Just ask any 18 year old male driver who's just passed his test and wants to insure his brand new Golf GTI. By that rationale, if a homeowner reduces the risk that they will have to make a claim, then their insurance premium should go down ? and there are ways that you can do this.

Only cover what you need to. For example, the standard Co-Op home insurance package allows for a rebuild cost of up to ?500,000. If your home is worth half this figure (and remember, the cost of rebuilding your home would not be as much as the market value), then you are paying for cover you don't need.

Strengthen security. This is a particularly good way of reducing premiums, especially if you live in an area with a high crime rate. Fit approved locks (insurance companies have lists of security measures they have approved) to windows and doors. Double-glazed UPVC doors and windows are much more secure than wooden frames are doors. A burglar alarm is a very useful measure, as it adds a layer of security when your house is unoccupied or at night, the time when it is most at risk from burglars.

Protect against fire. Make sure your fire measures are up to scratch and that simple things like smoke alarms are installed and checked annually by recognised professionals. Fire extinguishers should be put in places where they are likely to be needed. Fire blankets in the kitchen are also a good idea.

Shop around: There are so many companies selling premiums these days that the competition between them can be good news for buyers. Use an internet price comparison site such as moneysavingsupermarket.com to find out which policies are cheapest. Be careful though ? make sure the cheaper policies also give you the protection you need. First and foremost should always be protection of your house and the things inside it, and while saving money is tempting, never buy an inadequate policy.