New Mexico Homeowners Insurance

Finding a homeowners insurance policy doesn’t need to be confusing. Compare rates from New Mexico by city and carrier below.

Find affordable homeowners insurance in New Mexico


Homeowners insurance isn't required, but it is important. A home insurance policy keeps your personal items protected. A homeowners policy covers your dwelling, personal property, and other buildings against a number of circumstances, including wind damage, fire, theft, vandalism, and others.

Gulfs exist in home insurance costs from state to state. Home insurance costs in states diverge depending on the total number and value of home insurance claims filed in that state, and depend on the value of the dwelling and belongings being insured.

The easiest way to get a cheap home insurance policy in New Mexico is to view prices from as many companies as possible. Find out home insurance rates in New Mexico via the below data. Remember: your rates may differ, depending on your coverage limits.


New Mexico home insurance:
  1. By insurance company
  2. Rates by city
  3. Insurance bundling discounts


Home insurance prices in New Mexico by insurance company

Homeowners insurance rates in New Mexico differ based on the insurance company you choose. Liberty provides the cheapest homeowners policies in New Mexico — just $984 yearly. This is less than New Mexico's average cost of $1,661, offering a $677 price break on the state's average rate.

Start your search for a home insurance policy by reviewing the most affordable New Mexico companies, listed below.


THE MOST AFFORDABLE HOMEOWNERS INSURANCE COMPANIES IN NEW MEXICO
CarrierAverage Annual Rate in New Mexico
Liberty$983.94
Safeco$1,305.22
Allstate$1,362.43
USAA$1,484.32
State Farm$1,636.48


New Mexico homeowners insurance costs: by city

Home insurance rates in New Mexico vary depending on the city. Policies are often priced on locally specific variables such as the number of homeowners claims filed nearby, lending your ZIP code plenty of weight in deciding how much you pay.

The best home insurance rates in New Mexico are in Las Cruces. An average home insurance policy in Las Cruces costs $1,111 per year — $550 less than the average New Mexico rate. Reference the below table to see the cheapest cities in New Mexico for home insurance.

Another insurance provider you can consider is Hippo. Hippo specializes in affordable and personal home insurance in New Mexico. They advertise you can save at least 25% on your home insurance. Click below for a personalized quote.



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New Mexico homeowners insurance costs: by city

Home insurance rates in New Mexico vary depending on the city. Policies are often priced on locally specific variables such as the number of homeowners claims filed nearby, lending your ZIP code plenty of weight in deciding how much you pay.

The best home insurance rates in New Mexico are in Las Cruces. An average home insurance policy in Las Cruces costs $1,111 per year — $550 less than the average New Mexico rate. Reference the below table to see the cheapest cities in New Mexico for home insurance.

AFFORDABLE HOMEOWNERS INSURANCE BY CITY IN NEW MEXICO
City
Average 12-Month Home Insurance Rate
Las Cruces
$1,110.98
Los Alamos
$1,123.94
Rio Rancho
$1,132.78
Sunland Park
$1,150.13
Anthony
$1,150.69

 

New Mexico insurance bundling discounts: home and auto

If you're trying to save, consider buying your home and auto policies from the same insurance company. Bundling home and auto insurance in New Mexico can lead to substantial savings on auto insurance. Bundling home and auto policies in New Mexico may earn you a yearly discount of $153.

HOME AND AUTO INSURANCE BUNDLING DISCOUNTS IN NEW MEXICO
Avg. 12-Month Auto Insurance Rate (No Bundle)
Avg. Annual Auto Insurance Rate (Bundle)
Annual Bundle Savings
Bundle Savings %
$1,315.00
$1,162.00
$153.00
13%

You can save money on insurance by bundling your home and auto policies. Start shopping today!

 

Compare rates from top car insurance companies.

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Does home insurance cover damage caused by fires in New Mexico?

Fire coverage comes standard on every homeowners insurance policy in New Mexico. If your home were to be damaged or destroyed by fire, your home insurance company would cover the damage to your property up to your policy limits. The commonality of wildfires in New Mexico reinforces the importance of homeowners insurance: 14% of New Mexico households are in danger of suffering damage from a wildfire. In fact, 382,345 acres of the state were burned in 2018.*

Depending on your policy, your home insurance may cover additional living expenses if your home is deemed unlivable. Fire-related damages not covered by your home insurance provider is intentional damage (arson) or damage to a vacant home.

*Source: Insurance Information Institute (https://www.iii.org/fact-statistic/facts-statistics-wildfires)