6 easy ways to get cheap home insurance


Install an advanced alarm system
Install an advanced alarm system © SeanPavonePhoto/

Install an advanced alarm system

Many people know that fire alarms, carbon monoxide sensors and burglary systems help to cut home insurance premiums. The discounts can be even greater with today's more advanced monitoring systems that report to a central location and alert first responders.

Alarms connected to a central station can cut premiums by an average of 10 percent, Wilson says. Insurers offer the discount because the risks are minimized if your home is being monitored 24 hours a day.

"With fire response, time is everything," he notes.

Alarm companies advertise that the insurance savings can be 20 percent, or even more. If the premium discount is your main motivation for buying a particular security system, it's a good idea to double-check with your insurance company or agent to find out specifically how much you're likely to save.


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