How to reduce homeowner's insurance premiums

If insuring your home is taking a bigger bite out of your wallet each year, here are some ways to ease the pain. * Increase the deductible from $500 to $1,000 for a 20 percent premium deduction. * Combining auto and home policies could save you up to $300 a year. According to Money magazine, if your premium is $2,000 a year, you could save: * Up to $400 by installing a central station burglar and fire alarm. * $300 by updating the plumbing, electrical and heating systems. * $200 by installing hurricane shutters or roof tie-downs. * $200 for deadbolt locks. Owning a new home can result in a discount of up to $400. The discount decreases with age.