Why should your homeowners insurance carrier receive any more of your hard earned money than they should? Here are a few pointers to help you to reduce your premiums and put that money right back into your pocket.

1. Raise your deductible: Depending on the state in which you live and your insurance carrier, raising your deductibles from $250 to $5,000 per claim could save anywhere from 5 to 25% of your premium.

2. Buy your policies from the same insurance company: Insurance companies offer a discount if you purchase two or more policies from them, so get your homeowners and automobile policy from the same company.

3. Insurance companies prefer to insure new homes: When looking for a home, keep this in mind. However, if you do buy an older home, updating systems like the electrical, heating and plumbing may serve to earn premium credits.

4. Install smoke detectors: In new York, smoke detectors are the law. This might not be so in other states. Having a smoke detector, a burglar alarm, and functioning fire extinguishers may earn additional premium credits.

5. Stay with the same insurance company: Insurance companies like long term relationships with their policy holders and they tend to reward them accordingly. Some companies offer 5% premium discounts if you remain with them for 3 to 5 years, and 10% discount for 6 years or longer.

6. Avoid negative impact: Some insurance companies will not provide coverage if you have certain dog breeds. Other carriers will insure your home, but will charge an additional premium. In general breeds such as Presa Canario, Pit Bulls and Rotweilers are not looked upon favorably. Check with your insurer before getting a dog to see how it will impact your premium.

7. Shop around: The internet makes it easy. Always get more than one quote and compare overages and premiums.

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