Currently, we budget $55 per month-- $660 a year. We insure our house with Allstate, for no other reason than they gave the best quote when we shopped around. There aren't a whole lot of things that I know of that can lower this insurance premium, but here's what we did.
Our premium used to be over $900 per year; I wanted to get it as low as possible, so Mrs. Fund agreed that I could increase the deductible IF we also increased the emergency fund to match. So we did. We went from a $1,000 deductible to a $3,000 deductible, and that saved us on the premium. If you live in a high-risk area or own a high-risk home, this may not be the best choice for you, but for our house that isn't going to fall down or blow up or get flooded, it's a good place for us to cut back some monthly cashflow.
Maybe I should check into increasing the deductible again. What do you think? Any tips on how to reduce this expense?