Final answer:
The action that is not suggested to reduce homeowner's insurance costs is changing insurance companies whenever you renew your policy. Installing security systems, avoiding small claims, and comparing quotes from multiple companies are effective methods to potentially lower premiums.
Step-by-step explanation:
The question you've asked relates to suggestions for reducing your homeowner's insurance costs. Among the options provided, changing insurance companies whenever you renew your policy is not generally suggested as a way to reduce your homeowner's insurance. However, installing better locks or a security system, avoiding small claims against your policy, and shopping around to get quotes from several companies are all valid ways to potentially lower your insurance premiums. Insurance companies may offer lower rates if a business or homeowner installs high-quality security and fire sprinkler systems because this reduces the risk that they are insuring against, which is known as a moral hazard.