For save on home insurance # Maintain a good credit history

Many insurers now check your credit and can adjust your price based on your level of "risk" as judged by your credit history, where allowed by state law. Make sure your credit is in good shape when you apply for policies.

For save on home insurance # Look for private insurance first

If you live in a high-risk area — one that is especially vulnerable to coastal storms, wildfires or crime — and think you'll be forced to buy home coverage from your state's high-risk insurance pool, check first with an independent insurance agent. You may find that you can still buy insurance at a lower price in the private insurance market than from your state's insurer of last resort.

For save on home insurance # Check your coverage annually

You want your policy to reflect the value of your home and belongings. If you review your policy every year, you will be able to make the necessary adjustments. If, for example, you just sold a valuable painting, you won't need the same amount of personal property coverage. But if you've added a garage, you'll need to increase your dwelling coverage.

For save on home insurance # Stay with an insurer

If you've kept your coverage with a company for several years, you may receive special consideration. Several insurers will reduce their premiums by 5 percent after you stay with them for three to five years; and some companies will discount you as much as 10 percent after six years.

For save on home insurance # Look for group coverage

Large employers and business associations often work out deals with an insurance company, which includes a discount for employees and members.

For save on home insurance # Look for senior discounts

Retired people stay at home more and spot fires sooner than working people. Older people also have more time for maintaining their homes. If you're at least 55 years old and retired, you could qualify for as much as a 10 percent discount. But it really depends on the insurer and some companies don't offer the discount, adds Barry.

For save on home insurance # Stop smoking

Smoking accidents account for almost 23,000 residential fires every year, according to III. Some insurers offer to reduce premiums if no one in the home smokes.