Things to consider when looking to cut costs on your homeowners insurance:  

The first place to start is to consider your deductible.  You can save up to 25 percent by simply bumping up the deductible on your homeowners policy from $500 to $1,000.  Usually, you won't file a claim unless there's a large damage, so anything less than $1,000 wouldn't be turned over to your insurance anyway. 

Multiple Policy Discount
If you combine your homeowners policy with at least one other policy (automobile, umbrella liability, life, etc.) from the same carrier, you can likely reduce your premiums by 5 to 15 percent. 

Home Improvements
Things like adding a new roof, upgrading your heating, electric, or plumbing, or installing an alarm system can lower your insurance costs.  You can lower your premiums by lowering the claims risk.  Things like installing a fence around your backyard pool or trampoline will be considered favorably by most insurance companies. 

Credit Score
Did you know that your credit score can help keep your homeowners insurance premiums down?  Many insurance companies use what's called an insurance score to determine your premiums, which is made up of primarily of numerical rankings based on your credit history.  The better your credit rating overall, the better your insurance score resulting in better rates. 

Annual Check-ups
Every year when your homeowners policy is up for renewal, be sure to do a check-up to ensure you're getting the best rates.  Have things changed that might affect your premiums?  Are you taking advantage of any discounts you may be eligible for?  If you decide to comparison shop, experts suggest you look at 3 different companies to compare coverage and rates.