10 hidden home insurance credits

As strange as it seems, some home insurance companies will give you credit for the company you keep -- as long as that company is in the form of a neighborhood homeowners association, or HOA.

"I've heard that it's because of the security aspects of HOA communities, with things like community watch," says Flannagan. "Plus, people may have to maintain their home in a certain way in order to meet the requirements of a homeowners association's restrictions and covenants."

You don't necessarily have to be a member of the homeowners association to take advantage of this discount; your home is simply considered less risky because of the involvement of your neighbors in keeping your community safe from thieves and vandals.

Homeowners association credit: 5 percent to 10 percent.