It would make me very nervous to live near an active volcano. Sure, I'd probably have some hints to evacuate before anything went seriously wrong, but knowing that at any time, my house would be destroyed in an explosion of flame and earth is a scary thought. (Compare this to my previous two homes that were vulnerable to shaking earth and flying water, respectively.)
Okay, but can I make it safer? I think so.
Pipe jack a pipe of thermal ceramic into the core of the volcano, and connect the other end to either a deep unused valley, or the ocean, whichever you have handy. Angle it at least 10 degrees, with the volcano on the high end. Lava escaping through the pipe is lava that cannot build up pressure enough to erupt, so the volcano erupts much less often, if at all.
Too much work?
Okay, dig a big ditch in the way that you'd prefer lava to travel, all the way up to the top of the volcano's cone. Not all lava will obey it, but it does make the path of least resistance the one that you'd prefer it to follow. (And after the eruption, it'll be full of that rich, fertile, volcano soil that encouraged people to live near the volcano in the first place.)