When looking for  insurance there are several things to think about.  There are many different factors that go into determining the price you will pay.  Often newer homes will come with lower premium since everything in them is in perfect shape.  Newly renovated homes can also qualify for a reduced premium since they will be in excellent condition.  The amount of the renovation will play a part in the size of the discount you can expect to receive. 

When buying a  insurance policy you will not need to include the value of the land in your policy.  The land on your property cannot be destroyed or lost so there is no need to insure its value.  The higher the value of the properly the higher your premium is likely to be. 

A building that is secure will cost less to insure.  Installing a home security system can save you as much as five percent on your home insurance policy.  Some advanced security systems can save you as much as twenty percent on your policy.  Think about the cost of the system and how much you will really save on your insurance policy.  These systems can be quite expensive and it may not give you enough of a discount to pay for its cost. 

Another way to save money on your building insurance premium is to have a higher deductible.  This is the amount you would have to pay in the event that a claim was filed against the policy.  One of the smallest deductibles available will be for $250.  You can save as much as twelve percent on your policy each year if you were to double the amount of the deductible to $500.  Bumping your deductable up to $1000 can save you even more money on your premium.