If you are buying a home in the United States, you will be required by the mortgage company to keep a certain level of insurance coverage on that home. Homeowner's insurance can be costly. But there are ways to manage this expense. Insurance navigator helps you to lower your monthly premiums without sacrificing coverage:

1. Have an alarm system installed

Since break ins and theft are major sources of insurance claims, insurance companies reward homeowners who take extra steps to prevent this from happening. Household security systems will pay for themselves within a short time. A quality system can reduce your premium by 10 to 20 percent. And it will increase your peace of mind, which is priceless.

2. Install smoke alarms and other safety mechanisms

In the event of a fire, smoke alarms can save your life and the lives of your loved ones. But it also can save you money, even if you never have a house fire. Like security systems, smoke alarms and carbon monoxide alarms reduce your overall risk of property damage, injury and death in the home. Consider installing one smoke alarm for every level of the home. Pick an easily remembered date to change the batteries so that they are always working.

3. Carry a larger deductible

Your deductible is what you will pay out of pocket before the insurance takes over to cover damages. Lower deductibles mean higher premiums. If you raise your deductible, you will lower your home insurance premiums. A good reason to do this is that it will reduce the total number of insurance claims you file over time. As a result, you will appear to be a better risk, which will qualify you for better rates.

4. Watch your credit

Just as with qualifying for a low interest rate on a mortgage, qualifying for a lower premium can be affected by your credit score. Insurance companies view your credit score as a way to determine your level of risk. To prevent your credit from becoming a problem, order annual copies of your credit reports and dispute any items that you feel require it. By managing your credit score this way, and paying your creditors on time, you will keep your insurance premiums and interest rates manageable.

5. Use the same company for all coverage

If you use different companies for all of your insurance needs, you may be throwing away money. Rather, consider using the same company for all of your coverage needs, including home, car, motorcycle, boat and other insurance. Most companies will offer a substantial discount for multiple coverage. Take advantage of this, and you will also simplify your insurance by making one payment to one company each month.

Keeping your insurance premiums down does not have to be difficult. It is simply knowing what actions to take. Any of these five steps will lower your overall premium. Combined, they will make a tremendous difference to your bottom line.