When you own a home, a part of the responsibility of taking care of your domicile is to have homeowner's insurance. Even if your monthly premium is not too high, you may still wonder if there is any way you can help reduce the cost to save a little money. If so, consider using the following tips for saving money on your insurance premium.

1.  Install a Monitored Alarm System for Your Home

One thing you can do to help save money on your premium is to install a monitored alarm system for your home. Depending on the system, the alarms can alert you and emergency responders of potential break-ins and fires. 

When you have an alarm system installed on your home, the chances of extensive property loss from theft. For the insurance company, this means that you are less likely to file a claim to replace stolen possessions, which puts you in a lower risk category that could decrease your premium. Even having the alarm system's sticker on your window is often a deterrent to would-be thieves.

A monitored system also alerts you and responders to a fire sooner than other methods that do not detect the smoke or flames until the fire is raging. If the fire is noticed as soon as it starts and before it gets out of control, there is the potential for less property damage, therefore a lesser claim amount would be needed.

2.  Tell the Insurance Company If You Do Not Smoke

Another potential discount about which you could ask your insurance company about is one reserved for people who do not smoke. As a rule, smokers are considered a higher claim risk because of the increased potential of a fire caused by leaving a cigarette unattended or even falling asleep while smoking a cigarette.

However, if no one in your family smokes, you may be able to receive a small discount on your premium. Since the potential for a fire started by smoking is eliminated because you are a nonsmoker, this puts you in a lower risk category for filing a claim for property loss and damage.

The above tips only suggest some of the ways you can decrease the cost of your premium, as well as decrease the risk of ever having to file a claim. For more ideas, contact an insurance service, like Ideal Insurance Agency, to see if they have any discounts that are specific to your situation.