What might a homeowner do to potentially lower their insurance premiums?

Improving a home's security with alarms and locks can lead to lower insurance premiums because insurance providers often offer discounts to homeowners who take measures to reduce the risk of theft or damage. Enhanced security features such as burglar alarms, surveillance cameras, and high-quality locks demonstrate to insurers that the homeowner is taking steps to protect their property. This reduced risk can encourage insurance companies to lower premiums, as the likelihood of having to make a claim decreases.

In contrast, adding additional living space may not directly lead to premium reductions and could potentially increase the home's value, which might raise premiums instead. Storing valuable items offsite permanently may be a good practice for safeguarding possessions, but it does not necessarily qualify for a direct premium discount. Changing insurers frequently could actually have the opposite effect, as insurers look favorably on long-term clients whom they can establish a relationship with, potentially leading to loyalty discounts.