How prepared are you

Your insurance company most likely will offer reduced rates to those who have taken measures to protect themselves from a home disaster, e.g., smoke detectors are installed or there is a fire extinguisher by your kitchen sink. And don't forget dead bolt locks to keep out unwanted guests. Ask your insurer what you can do in your home to lower your premiums.

Although sprinkler systems or burglar alarms linked to the local police can be expensive, their cost may be mitigated by a premium reduction from your insurer. Ask your provider what discounts they offer and see if you can qualify. Use the discounts when comparing insurance company premiums.