Every home needs home owner's insurance for protection. Home owner's insurance is mandatory when there is a mortgage attached to the property. Regardless of the situation, it is wise to carry home owner's insurance which will cover theft, disasters and risks such as fires and water damage. In order to keep the cost of insurance down, there are things that you can do and upgrades you can make that can have an impact on the final premium. Start to prepare now for this year's insurance policy renewal.

-Consider raising the deductible to $1,000. Depending on the area in which you live, this small increase can save up to 25%. Remember that some areas have separate deductibles for windstorm and other natural disasters. These deductibles are usually set by a percentage. You should always have enough money available in savings to cover whatever deductible you have chosen.

-Some insurance companies offer savings if both auto and home are insured through them. This is not available in all states.

-Smoke detectors and dead bolt locks will bring some savings, but a sophisticated alarm system with monitoring will bring additional savings.

-If you are over 55, ask your insurance agent if there are any additional discounts that your insurance company offers.

-Maintain a good credit records for additional savings. Yes, insurance companies do check your credit when determining your premium.

-Remember that most companies will charge more if you own a dog, have a pool with a diving board, own a trampoline and if the property does not have a fence. These are just some of the things that are considered by insurance companies when determining a premium.

-Hurricane prone areas also follow different rule which change frequently. For instance, in Florida, you will no longer receive a discount for having window shutters if your garage is not also secured. In addition, all doors must be hurricane resistant or have shutters. Check your state insurance department for up to date information and laws.

-Floods and earthquakes are not covered under normal home insurance policies. You must purchase separate policies for these types of coverages.

Home owner's insurance premium rates continue to go up each year so it is important to keep informed of the changes taking place within your state and with the company you are insured with. Be prepared ahead of time, prior to renewal, since any lapse in coverage can make your home uninsurable. This could result in force place insurance by a mortgage company which will result in even higher premiums with no coverage for the homeowner. Education in the area is vital to any home owner.