Popular QuestionsPopular Questions about New Mexico Home Insurance

How much does New Mexico home insurance cost? $982

The average American homeowner pays $1,173 per year for home insurance, but in New Mexico, the average annual premium is $982. Although overall costs in this state are lower than the national average, that does not mean you don’t have room for big savings. Let an independent insurance agent work with you to find the right coverage at the best price.

new mexico home insurance cost chart
What does my New Mexico home insurance do for me?

Your home insurance gives you a backup plan in case a catastrophe strikes in your neighborhood. Whether it's a fire, heavy winds or a burglary, you're covered if you have a suitable New Mexico homeowners insurance policy.

Pays for repairs to your home and your belongings

  • Example: A tree falls on your house, and rain ruins your 60" Samsung TV.

Pays for someone else's injuries or property damage when it's your fault

  • Example: Your kid is playing baseball and accidentally smacks the ball through your neighbor's window.

Pays for temporary living expenses when your home is damaged

  • Example: You need a hotel while your house's roof is being repaired due to a fallen tree.
Will I actually use my New Mexico homeowners insurance?

We can’t be 100% certain, but last year insurance companies spent more than $337 million on home insurance claims in New Mexico. That's a lot of unfortunate events happening to New Mexico homeowners.

How is my New Mexico homeowners insurance calculated?

Insurance carriers calculate the cost of a home insurance policy by asking "how likely is it that something bad will happen?" The more likely it is that something bad will happen, the more expensive the home insurance policy will be, and vice versa. We call these potential disasters "risk." Let’s take a look at how risky New Mexico is compared to the rest of the US.

Crime:

The crime rate in New Mexico is nearly twice the national average. This can lead to increased insurance rates in certain ZIP codes. It is important that you take proactive steps to protect your property and that you have a reliable insurance policy backing you up in the event of a break-in.

  • Average number of burglaries per 1,000 homes in NM: 8.30
  • Average number of burglaries per 1,000 homes in the US: 4.69

Weather:

One of the biggest risks to area homes is damage from wildfires. Fires can be extremely destructive, leading to the need to rebuild your home and replace all your belongings. It is therefore extremely important for your coverage limits to be high enough to prevent you from suffering a large financial loss.

  • Number of federally declared disasters since 1953: 79
  • Most common cause of disasters in the state: Fires
  • Average number of tornados in the state per year: 9.7
  • Amount paid in home insurance claims in 2016: $337,652,000

Home Values:

The estimated cost to rebuild your home will play a large role in how much your home insurance costs. In New Mexico, the average home values are lower than the national average, which plays a role in why insurance costs in this state are relatively low when compared to other states.

  • Average home value in NM: $167,500
  • Average home value in the US: $188,900
Are there any independent agents in New Mexico?

Yes! There are currently 146 independent insurance agents in New Mexico who are ready to help. Did you know that independent insurance agents can give you multiple policy options to choose from? That way, you'll receive completely customized coverage that addresses all of your unique insurance needs.

What’s the best insurance company in New Mexico?

An independent agent compares policies from multiple companies to find you the best coverage for your needs and budget. Here are some companies our agents will use in New Mexico: 

travelers
Nationwide
safeco insurance
central insurnace companies

InformationFind the Best Insurance in Your City

Now, let's take a quick peek at what’s going on in your city. Insurance companies look at a lot of factors when determining home insurance costs. One of many factors is location. Crime rates, weather catastrophes and the overall cost of your home will also factor into how much your home insurance will cost.

How does your city measure up to the national average?

  • National average home insurance cost – $1,173 / year
  • National average burglary rate per 1,000 homes – 4.69
  • National average home value - $188,900


CityAvg. Yearly Cost of Home InsuranceAvg. Home ValueNumber of Burglaries per 1,000 Homes
Albuquerque$1,183$191,60010.96
Las Cruces$857$150,7007.13
Rio Rancho$934$178,1003.42
Santa Fe$1,397$267,90013.26
Roswell$582$101,9787.58
Farmington$974$187,9105.54
Clovis$884$131,63713.31
Hobbs$743$125,4878.62
Alamogordo$551$110,7203.96
Carlsbad$703$129,8755.72
Gallup$914$132,97114.27
Taos$1,589$284,00420.93

Albuquerque, NM Home Insurance

The average monthly cost of homeowners insurance in Albuquerque is $99. Your actual cost could be less or more than this. Why? Because your rates are dependent on factors like the crime rate in your ZIP code, the size of your house, the building materials used in its construction, and your claims and credit history. Comparing quotes enables you to be sure that the policy you have chosen is competitively priced.

Your Albuquerque home insurance is designed to cover you against exorbitant financial losses you may face as a homeowner in this city. These include losses associated with such things as severe weather damage, residential fires, liability lawsuits, and property crimes. This is particularly important in Albuquerque, where the burglary rate greatly exceeds the national average. If you discover that your home has been burglarized, first make sure that you and your family are safe, and then call the police. You will need a copy of the police report when you file a claim to get compensation for your lost or damaged property.

Looking for insurance that you can afford? Talk to a local independent insurance agent. These agents understand the specific risks faced by homeowners in Albuquerque because they are members of your community. These agents are free to shop for rates from multiple insurance provides so that you don’t have the do the comparison shopping yourself.

Las Cruces, NM Home Insurance

The average monthly cost of homeowners insurance in Las Cruces is $71. You should use this amount as a baseline only, since your actual rates will be specific to your particular situation. Details such as the age, size, and construction of your home and your credit and claims history can play a significant role in how your rates are calculated. Because each insurance company uses its own methods to assess risk and determine rates, comparison shopping can really save you money.

You have most likely invested a lot in your home. It is important to protect that investment with a comprehensive Las Cruces homeowners insurance policy. This insurance is designed to cover you against many of the risks you are likely to face as a homeowner in this New Mexico city. It is important to note that hazards such as floods and earthquakes are not covered by home insurance. For that, you will need a supplemental flood insurance or earthquake insurance policy. 

A local independent insurance agent can help you find all the coverage you need to fully protect your finances. Unlike agents who work for a specific company, these agents have the freedom to obtain quotes from multiple companies. That way, they can ensure that you are getting the best home insurance coverage to meet your coverage and budgetary needs. 

Rio Rancho, NM Home Insurance

The average monthly cost of homeowners insurance in Rio Rancho is $78. Your actual rate will be calculated according to a number of different factors including details about your property, the crime-rate in your ZIP code, and the amount of coverage you wish to purchase. It should therefore not be surprising if your quoted rate deviates significantly from this average.

Rio Rancho homeowners insurance is designed to protect you from a number of possible financial risks you face as a property owner in this city. This includes the costs associated with such things as property crimes, liability lawsuits, severe weather damage, and residential fires. It is important that you buy coverage that is high enough to enable you to replace all of your belongings. If you own any particularly valuable items, covering them appropriately may require you to purchase special riders or endorsements. An independent insurance agent can provide you with guidance as you purchase your home insurance coverage.

Nobody wants to pay more than they have to for insurance. That's why you should visit a local independent agent for your homeowners insurance needs. You'll receive numerous quotes to choose from, and your agent can help you review the coverage and price associated with each policy so that you can be sure you are getting the right coverage at the best price.

Santa Fe, NM Home Insurance

The average monthly cost of homeowners insurance in Santa FE is $116. Your specific home insurance rate will be dependent on a number of factors like your home's size, location and value and your credit and claims history. Each insurance provider has its own method for calculating rates so it is beneficial to obtain and compare quotes from multiple carriers.

In the event that a severe storm, a wildfire, or another hazard causes damage to your home, it pays to have a reliable insurance policy backing you up. In addition to these risks, your Santa Fe homeowners insurance can cover you against liability lawsuits and burglaries. This is particularly important in Santa Fe, where the burglary rate is quite high. If your home is burglarized, be sure to get a police report as you will need that when you file a claim to be compensated for your losses.

Unlike captive agents, independent insurance agents do not work for one particular company; instead, they have relationships with multiple insurance providers. This gives them the freedom to offer you multiple quotes. That way, you can choose the policy that works best for you when it comes to coverage options, policy limits, and price.

Roswell, NM Home Insurance

The average monthly cost of homeowners insurance in Roswell is $48. Remember that this rate is just an average. Your actual home insurance cost could be less or more, since it depends on a variety of factors like your home's size, location and building materials. No two insurance companies calculate rates in exactly the same way. That is way it pays to compare rates before making a purchase.

Roswell homeowners insurance is designed to meet the specific needs of homeowners in this New Mexico city. It can cover against a full spectrum of risks such as burglaries, severe weather damage, liability lawsuits, and residential fires. Whether a fire in your home was caused by an accident, such as leaving a stove on, or an outside force, like a wildfire, the damage can be all-encompassing. Knowing that your home insurance can cover the cost to replace your belongings and enable you to repair or rebuild your home can provide you with a measure of comfort.

When you buy insurance directly from an insurance company or go through a direct, or captive, agent, your options are limited. However, when you team up with an independent insurance agent, you can review offerings from multiple insurance carriers so that you can secure the best-priced policy that suitably meets your needs.

Farmington, NM Home Insurance

The average monthly cost of homeowners insurance in Farmington is $81. However, rates can vary significantly from one person to the next because several factors are used to determine them. Did you know that the crime rate in your ZIP code, a swimming pool on your property, and the last time you got your roof replaced are all factors that can impact how much your homeowners insurance costs? Each insurance company assesses risk and determines rates in a different way, so it is a good idea to compare rates from multiple companies before making a purchase.

Your home is likely one of the biggest investments you will ever make. It is important that you protect that investment with a comprehensive and reliable Farmington home insurance policy. This insurance is designed to cover a wide array of risks including such things as burglaries, severe weather, accidental fires and wildfires, and liability lawsuits. It will not cover damage caused by floods or earthquakes though, so be sure to ask your independent agent for help finding suitable policies with which to supplement your coverage.

An independent agent has the freedom to offer you quotes from multiple insurance providers and will work hard to find you a comprehensive policy at an affordable price. You deserve to have the best homeowners insurance for your needs so that you have complete protection against the unexpected. Find an independent agent near you to get started.

Clovis, NM Home Insurance

The average monthly cost of homeowners insurance in Clovis is $74. Keep in mind, however, that rates can vary significantly from one homeowner to the next. This is because they are calculated for each person according to a number of factors including such things as the age, size, and value of your home and your credit and claims history. When you compare quotes from multiple carriers, you can be sure that you are getting your coverage at a competitive rate.

Your Clovis home insurance can shield you from financial losses caused by a multitude of risks you may face as a homeowner in this city. These can include such things as liability lawsuits,  severe weather damage, residential fires, and burglaries. The burglary rate in Clovis is quite high, so it is important that you take steps to safeguard your property. If your home is burglarized, be sure to call the authorities and get a police report. You will need that and a detailed list of your lost and damaged items when you file a claim with your insurance company.

Independent insurance agents can help you find the right coverage by presenting you with a variety of quotes that you can review before you make a purchase. They can also be there for you when you have insurance-related questions or need assistance with policy changes. Find an agent near you to get start reviewing your insurance coverage needs and options.

Hobbs, NM Home Insurance

The average monthly cost of homeowners insurance in Hobbs is $62. Your particular home insurance cost could be less or more, depending on factors like the size of your house, your credit score, your house's building materials, the crime rate in your ZIP code, and the amount of coverage you wish to buy. Comparing a variety of quotes lets you be sure you are getting your policy at the right price.

Your Hobbs homeowners insurance is designed to protect the investment you have made in your home by covering the costs associated with a variety of risks you may face. For example, if you are sued for negligence after a guest is badly injured in your home, or if you come home to find that your house has been broken into and burglarized, you can rest assured knowing that your home insurance carrier has your back. Talk to a local independent agent to learn more about what your policy will and will not cover.

Unlike buying insurance directly from a carrier or through an agent who works for a specific company, working with an independent agent enables you to receive and compare quotes from multiple companies all in one place. Comparison shopping on your own can be time-consuming and frustrating. Let a local independent agent do the legwork for you.

Alamogordo, NM Home Insurance

The average monthly cost of homeowners insurance in Alamogordo is $46. Your actual costs will be calculated according to a variety of factors including details about your property, the crime rate in your ZIP code, the amount of coverage you are purchasing, and in some cases, even your credit score. It should therefore come as no surprise if your quoted rate deviates from this average.

Alamogordo homeowners insurance is designed to protect you from the financial losses associated with a number of risks you may face as a property owner in this New Mexico city. These include such things as property crimes, liability lawsuits, severe weather damage, and residential fires. It is important that you ensure that all of your most valuable property is fully insured. Sometimes this requires the purchase of special endorsements. An independent insurance agent can provide guidance you as you determine your coverage needs.

Local independent insurance agents can help you find the best home insurance policy to meet your coverage and budgetary needs. Unlike dealing directly with a specific carrier or an agent who works for a single company, when you work with an independent agent, your agent has the freedom to provide you with quotes from multiple companies so you can be sure that you are getting your coverage at a competitive price.

Carlsbad, NM Home Insurance

The average monthly cost of homeowners insurance in Carlsbad is $59. Of course, rates can vary significantly from one homeowner to the next because they are calculated for each person according to a number of factors. These include such things as the age, size, and value of your house. When you compare quotes from multiple carriers, you can be certain that you are getting the best price for your coverage.

Your Carlsbad home insurance can shield you from potential financial losses caused by many of the risks you may face as a homeowner. These can include liability lawsuits, damage caused by severe weather, burglaries, and fires, whether caused by an accident in your home or a wildfire. Fires can be particularly devastating as they have the potential to destroy all of your belongings. You may find some comfort in knowing that your insurance company can provide you with the funds you need to rebuild, replace, and move on.

Finding the best Carlsbad homeowners coverage doesn't have to be complicated. When you are shopping for insurance, start by contacting a local independent insurance agent. These agents can work with you to help find coverage that is comprehensive, affordable and customized specifically to meet your particular needs.