6. Changing Rates

Credit: There is no fixed rate

Real estate is a dynamic market and so the rates of buying a house keeps changing. The insurance rates also keeps on fluctuating along with the different models and sometimes even the prices might change in your favor.  

"Many insurance companies have tiered rating now, and if you don't quite fit into the perfect mold because of something that might have been on your credit report, you could be paying more than necessary because you haven't cleared that up," says Flannagan.

7. Renovation

Credit: 25 Percent

Renovation or tidying up the damages of your old house can help you save big on insurance premium.

"The logic behind that is, you've had it inspected by a professional and a lot of times they've detected -- and you've arranged to have an electrician fix -- all those wiring issues. Usually, when you buy a new or even an existing home, that loss mitigation has been done because of the inspection process. It gives us a better understanding of what's going on in that home." said Sean Meehan.

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