How does your city measure up to the national average?
National average burglary rate 3.76 per 1,000 people
National average home value $269,000
National average home insurance cost $1,211 year
| City | Annual insurance cost | Avg. home value | Burglaries (per 1k residents) |
| Albuquerque | $1,183 | $198,200 | 10.96 |
| Las Cruces | $857 | $150,700 | 7.13 |
| Rio Rancho | $934 | $178,100 | 3.42 |
| Santa Fe | $1,397 | $267,900 | 13.26 |
| Roswell | $582 | $101,978 | 7.58 |
| Farmington | $974 | $187,910 | 5.54 |
| Clovis | $884 | $131,637 | 13.31 |
| Hobbs | $743 | $125,487 | 8.62 |
| Alamogordo | $551 | $110,720 | 3.96 |
| Carlsbad | $703 | $129,875 | 5.72 |
| Gallup | $914 | $132,971 | 14.27 |
| Taos | $1,589 | $284,004 | 20.93 |
Popular Questions about New Mexico Home Insurance
The average annual cost of New Mexico homeowners insurance is $1,017, which is lower than the national amount of $1,211 per year. If you want exact rates on home coverage, you'll need to get with a licensed professional for custom quotes.
Your New Mexico homeowners insurance will protect against several exposures. The standard limits included under your New Mexico home policy are:
- Dwelling value
- Other structures
- Personal property
- Personal liability
- Medical payments
- Additional living expenses
Unlike auto insurance, your New Mexico homeowners coverage is not mandatory by law. However, if you have a mortgage or lienholder on your property, they will require proof of home insurance. With New Mexico having 337,652,000 home claims paid in one year, the proper protection is vital to avoid financial devastation.
Each carrier will use varying risk factors when calculating your insurance coverage. In New Mexico, insurance companies look at the following information when determining your homeowners policy costs:
- Dwelling value
- Past claims reported
- Local crime rate
- Flood zoning
- Natural disasters in the area
Yes, New Mexico has 146 independent insurance agencies that can help. They'll compare with local insurance companies for free, finding you the best coverage for the lowest rates in town.
Every state is supplied with a variety of carriers that write personal and commercial insurance locally. In New Mexico, Stillwater, Travelers, and Nationwide insurance companies are rated among the best when it comes to coverage and custom service. Compare markets with a trained professional to find which one is right for you.
Do You Know What Your New Mexico Home Insurance Covers?
Find the Best Homeowners Insurance in Your City
- $99
- Albuquerque, NM Monthly average home insurance cost
- The average monthly cost of homeowners insurance in Albuquerque: $99.
- Your actual cost could be less or more than this. Why? Because your rates depend 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 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.
- $71
- Las Cruces, NM Monthly average home insurance cost
- The average monthly cost of homeowners insurance in Las Cruces: $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.
- $78
- Rio Rancho, NM Monthly average home insurance cost
- The average monthly cost of homeowners insurance in Rio Rancho: $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 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.
- $116
- Santa Fe, NM Monthly average home insurance cost
- The average monthly cost of homeowners insurance in Santa Fe: $116.
- Your specific home insurance rate will depend 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.
- If 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.
- $48
- Roswell, NM Monthly average home insurance cost
- The average monthly cost of homeowners insurance in Roswell: $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.
- $81
- Farmington, NM Monthly average home insurance cost
- The average monthly cost of homeowners insurance in Farmington: $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 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 burglaries, severe weather, accidental fires and wildfires, and liability lawsuits.
- $74
- Clovis, NM Monthly average home insurance cost
- The average monthly cost of homeowners insurance in Clovis: $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 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 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.
- $62
- Hobbs, NM Monthly average home insurance cost
- The average monthly cost of homeowners insurance in Hobbs: $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. 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.
- $46
- Alamogordo, NM Monthly average home insurance cost
- The average monthly cost of homeowners insurance in Alamogordo: $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 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.
- $59
- Carlsbad, NM Monthly average home insurance cost
- The average monthly cost of homeowners insurance in Carlsbad: $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 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.