Bangalore: The happiness of owing a beautiful home at a prime location is complete only when the home is insured against any unfortunate event. Most people try to save on their home insurances by insuring their home and car with the same company that provides discounts on policies. While others think that they have smart-witted by having a smoke detector and a security system. However, there are many other lesser-known credits with real estate and insurance companies that can reduce the home insurance premium, reports Jay MacDonald of Bankrate.com.

Here are 7 such credits which can lower your home insurance premium.

1. Secured Community

Credit: 5-20 Percent

Living in a secured or gated community gives you as well as your insurer peace of mind .Your home is saved from invaders and this might encourage the insurers to provide you with credit for lessening the risk.  "That definitely falls under loss mitigation," said Sean Meehan, second vice president of property strategy and design for Travelers Insurance of Hartford, Conn. "If you live in a gated community, it's a lot less attractive to a thief than a place that doesn't have that security."

Read More:

Basic Things To Know Before Buying Travel Insurance

7 Tools To Make A Kid Financially Strong