1. Location, location, location! Yes, where you choose to live does affect your insurance. For example, homes that are located in areas prone to flooding and hurricanes, and homes located in cities all face higher premiums. On the flip side, homes that are close to fire stations or fire hydrants, homes in the suburbs or rural areas, and homes not located in a potential disaster zone may have lower premiums.

2. Your home value and rebuilding costs. Your insurance premium is based on how much it would cost to rebuild your home if it was damaged or destroyed not on the market value of your home. Of course, homes that are larger or have custom features will cost more to insure than smaller homes. Older homes might have age related issues such as older plumbing or wiring so that could add to the premium.

3. The amount of coverage and deductible that you choose to have on your home affects your premium. If you choose a higher coverage limit then you will have higher premiums. A higher deductible could result in a lower monthly payment but that means that you will have to pay more out of pocket if you need to file a claim.

4. Claim history. Speaking of claims, the more claims you make especially in a short amount of time, could raise your premium. If you find yourself being claim free, you may enjoy the savings.

5. Your credit score. (Insurance carriers run a soft credit report. This does not affect your credit history) Those with good credit are considered less of a risk than those with a lower credit score.

6. Safety and security features in your home. You could save on your home premium by having a monitored security system, smoke alarms, or fire sprinklers.

1. Have an annual policy review to see if you are over-insuring or under-insuring your home. This is especially important for those who have renovated their home, paid off their mortgage, or added high-value items to their home such as a pool or outdoor kitchen

2. Have your policies with the same provider so that your insurance agent can see your entire insurance portfolio and explore where discounts are available

3. Increase your deductible. Raising your deductible will lower your premiums. Just be aware that this means you will have to pay more out of pocket if you have a claim

4. Maintain your home. Replace your roof when you are advised to, make sure your electrical system is up to code. This could help reduce risk and prevent a claim

5. Upgrade your security. Install alarms, security systems, or sensors

6. Maintain a good credit rating

7. Have a wind mitigation done if your home is older than 2002.