Buying and selling real estate is exciting; insuring it is boring. Boring as it is, it's a necessity that requires a little more than an eyes glazed over conversation with your insurance broker or insurance company. It requires being proactive especially in Florida.

There are a lot of ways to save on your homeowners' insurance, if you take the time to read your policy and check for potential savings. However, per a survey conducted by the Travelers Company, it found that just over half of the respondents last year said they checked their homeowners policies at least once a year. This is down from 60 percent of those who checked the previous year, and with the average price of an annual premium going up 6 percent a year, averaging just over $1,000 annually, taking the time to investigate ways to save should be one of those must do things.

In Florida and many other coastal states, discounts are available if you have installed features that mitigate against wind damage. Hurricane shutters, impact-resistant windows and doors, as well as up to code wind straps, will not only better protect your property but also provide a premium discount. However, if you are installing hurricane shutters or impact-resistant windows, you must cover all of what is call the building envelope to qualify for a discount. For instance, you can't do what I did and only install hurricane shutters on the waterfront lanai and not cover the other windows and door.

Also, if you have a security system that automatically dials the police or fire department, you may qualify for a 5 percent to 10 percent discount. Of course, if you live close to a firehouse or police station, that's even better. Likewise, updating your roof, windows, electrical system and plumbing could provide a discount. Some insurance companies will give you a discount if you're a non-smoker or own a home with green Energy Star appliances.

But there are two other ways that are the most efficient and most productive way to lower your homeowners' insurance premium. The first is to raise the deductible. The higher the deductible, the lower the premium, just like automobile insurance. The second is to maintain a good credit score – something that really affects every aspect of your financial life.

Remember, homeowners' insurance has nothing to do with flood or wind insurance coverage. Those policies stand-alone from the homeowners' coverage and are specific to flood and wind damage. However, your homeowners' policy may have a hurricane deductible provision, usually between 2 percent and 5 percent, which needs to be reviewed. As stated, you can, of course, opt not to have a hurricane deductible, which would increase your premium, but would also decrease your out of pocket expense if you had a claim.

And if the absolute worst happens and you find yourself having to rebuild after a catastrophic storm, there is still a bright side. Homeowners all over the country, whether they are struck by hurricanes, fires, earthquakes or floods, take this opportunity to rebuild stronger and up to current code in addition to improving their living space.

If you can get through the boredom, you'll be in a better place in the event disaster strikes. As painful as it is, talking to your insurance broker or company with eyes wide open will give you peace of mind and may even put a few extra dollars in the bank. Then you can get back to the exciting part.