Home insurance is a great tool to keep homeowners protected from a variety of problems, natural or otherwise. However, for many homeowners with insurance premiums, it can be rather expensive. Fortunately, there are ways to reduce the cost of the policy you take. Here is a look at the top 3 ways to reduce your home insurance premiums.

1 - Install a Home Security System

The easiest way to reduce home insurance premiums is to install a home security system. By doing so, your home is less of a ‘risk’ to the insurance company and they will therefore reduce the amount you pay in your premiums. However, remember to provide complete documentation of the home’s security system as well as the types and number of services you have been given by the security company.

2 - Join the Neighborhood Watch

For homeowners who live in a neighborhood with a neighborhood watch program, it is advisable to join it. Just like the home security system, neighborhood watch helps keep your neighborhood safe and therefore reduces the risk to home insurance providers. Subsequently, you pay lower premiums.

3 - Combine your Insurance Policies

Many people are likely to have separate insurance policies on their home and on the items in it. A little known fact is that if you combine both these insurance policies, you will pay a reduced premium. While this may not be as significant in smaller homes, it becomes quite significant in larger homes.

If you are paying high insurance premiums, with the above 3 methods, you can significantly reduce your premiums. Remember one thing though. Whether you choose to install a home security system, join the neighborhood watch or combine your insurance policies, always let your home insurance provider know. Moreover, always provide documented evidence, such as receipts.