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What type of insurance do you need?
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.
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
Pays for someone else's injuries or property damage when it's your fault
Pays for temporary living expenses when your home is damaged
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.
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.
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.
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.
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.
National average burglary rate 4.69 per 1,000 homes
National average home value $188,900
National average home insurance cost $1,173 year
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