When you reflect to an insurance provider that a risk is mitigated, they are often willing to reduce your premium. Here are some effective tactics for reducing your fire risk and, by extension, your home insurance premium: Don’t smoke – If you’re not a smoker, you may be eligible for a discount on your home insurance premium. Increase your deductible – Like all things insurance related, this will depend on your appetite for risk and your financial status. If you increase the deductible, which is the amount of money you will cover before the insurance company has to step in, then your premium will drop. It is a pay less now versus pay more later calculation. Proximity to a fire hydrant – If your home is close to a fire hydrant, it signals to an insurance provider that a fire could be put out more quickly, reducing how much they would have to spend to cover your home fire insurance claim. Smoke alarms – Installing smoke alarms signals to an insurance provider that there is a process in place to get help in the event of a fire. As a result, they may be willing to reduce the premium.