Unlike auto insurance, Texas does not require property owners to buy homeowners insurance. However, it is a wise idea to protect such a large financial investment, especially since it also provides the roof over your head.  However, some people forgo coverage because of the cost. If you are one of these, below are some tips to help you reduce your home insurance premiums.

How to Reduce Your Homeowners Insurance Costs

1. Bundle Coverage

Most insurers provide a multi-line discount if you buy more than one policy from them. In other words, if you bundle your home and car insurance with the same provider, you pay less for the pair than you would if you bought them separately. Ask your agent how much you can save with a multi-line discount.

2. Install Security Devices

Insurers charge you based on the amount of perceived risk your coverage presents. The lower the risk, the lower the cost is. Therefore, you can reduce your homeowners insurance costs by reducing the risk to your insurer.

If you install a monitored burglar or fire alarm, it lowers the risk of you filing a theft or fire damage claim, so your provider will almost certainly cut your rates.

3. Raise the Deductible

The deductible is the amount you must pay toward a claim before the insurer is responsible for the rest. The larger your deductible, the lower the insurer's risk, so you often pay less each month if you agree to a larger deductible.

Be aware that if you should ever have to file a claim, you will pay more out of pocket. However, that day may never come. What is certain, though, is that you'll pay less each month for coverage.

For friendly, expert help designing a homeowners insurance policy, contact Area Wide Insurance Agency in Naples, TX. They have served Morris County and all of northwest Texas for more than 35 years. In addition to house insurance, they also specialize in renters, life, and car insurance. Visit their website to learn more about your coverage options or call (903) 897-5651 to request a homeowners insurance quote.