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

CityAnnual insurance costAvg. home valueBurglaries (per 1k residents)
Las Cruces$857$150,7007.13
Rio Rancho$934$178,1003.42
Santa Fe$1,397$267,90013.26

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