Recession or recovery, there never is a bad time to save money. With the potential to save thousands of dollars over the course of a 20- or 30-year mortgage and beyond, the time to start saving is now.

With that in mind, here are four things you can do to save on your homeowner’s insurance.

1. Shop around.

Most people forget to keep their eyes on the competition. Keep in mind that some insurers will offer discounts if you’ve carried your policy for a while, but price checking always is a good idea, even if it takes a little time.

2. Double up your policies.

“The specifics vary from company to company, but you definitely save by combining policies at one insurer,” said Judy Subris, an American Family Insurance agent in Fishers.

As you shop around for insurance, agents will ask if you have other policies to bring over. If they fail to ask, be sure to mention them.

“It’s not just auto insurance either,” Subris said. “Be sure to mention life insurance policies and any others you might have. You’re not committing to anything by asking.”

3. Mitigate future disasters.

Weatherproof your home with storm shutters and reinforced roofing materials. Modernize your plumbing, heating and electrical systems. Install a burglar alarm, smoke detectors and deadbolt locks. Talk to your insurance agent about other steps you can take to mitigate potential damage and receive a lower premium rate.

If you’re buying a new home, consider the price of your insurance at that time. You might pay less, for example, if you choose a home located near a fire hydrant.

According to Subris, brick and fiber cement siding offer better protection against high winds, which can mean lower premiums in the tornado-prone Midwest.

4. Pay for the right protection.

There are at least two ways you might be overpaying for insurance. First, don’t confuse your home loan amount with the cost to rebuild your home in the event of a fire, flood or other catastrophe. Your lot is not likely to need replacing, just the house.

Also, consider the cost of items within your home. Computers, appliances and luxury goods might depreciate in value year after year. As a result, the price to insure those items should decrease as well.

New purchases might cost more to insure, but the only way to know is by auditing the value of your possessions.