The recession is causing a majority of Brits to search for new ways to reduce their costs, including opting out of insurance or reducing the amount of cover.

However, these options are more likely to be costly in the long run.

There are a number of ways to reduce the cost of your home insurance without opting out.

Shop around

Shopping around for cheaper home insurance is one of the best ways to reduce costs. Instead of renewing your policy with the same insurer, homeowners are being advised to shop around as there are still lots of cheap deals around.

AA Insurance recently advised homeowners to purchase home and contents insurance separately after a study revealed that 41 per cent of homeowners are paying more for their cover as the result of opting for a combined policy.

Simon Douglas, who is the director of AA Insurance, said: "Recent suggestions that the recession has led up to a fifth of householders to cancel or not renew their cover is worrying, especially at a time when claims for both burglary and weather damage are increasing.

Many insurers offer special discounts for buying a combined home and contents policy. But even when taking that into account, a surprising number of customers would be better off buying the policies from different insurers although using a broker enables the most cost-effective combination to be bought from a single source."

Quality over price

However, homeowners should search for the best policy to suit their needs and not just the cheapest.

Douglas added: "It is important that buyers don't just check prices but policy benefits too, to ensure they are comparing on a like for like basis."

A recent article in the Telegraph also advised homeowners to ensure they cover the full reinstatement value of the property stating "you get what you paid for."

Those who do not protect their homes with adequate cover may see their debt levels soar.

Other than shopping around, homeowners can also take a number of steps to ensure the safety of their family as well as reducing their home insurance premiums.

Steps to take in the home

Ensuring the house is secured with an alarm, motion sensors or even securing strong locks on windows and doors will not only lower your insurance premiums, but it will also reduce the risk of a break in and therefore reduce the chances of filing a claim.

Having a smoke alarm or a fire sprinkler is also a good investment to make if you want to see your premiums fall considerably, especially for smokers.

Yet with over 23,000 homes being set alight each year as a result of smoking accidents, smokers would usually have to pay more for their home insurance compared to that of a non-smoker.

Furthermore, modernising your wiring, heating and plumbing systems, will decrease your premiums even further as it is less likely to create internal damage to your property.