Albuquerque Homeowners Insurance

The Zebra
Aug. 26, 2019

Find affordable home insurance in Albuquerque


A critical consideration for every homeowner should be their home insurance coverage. Along with your personal belongings, homeowners insurance covers your dwelling against many different perils, including fire, wind damage, vandalism, and theft. Given the relatively frequent occurrence of these incidents and the sizeable cost of replacing a home, homeowners coverage is a solid investment.

The price of a homeowners insurance policy is dependent on a number of factors. These include the following: dwelling value, value of your personal belongings, and the cost of the materials used to build your home. Location also plays a role in determining the price of your homeowners insurance policy. In areas prone to perils like hail, frozen pipes, volcanoes, or fire, home insurance policies may be more expensive to account for the extra risk. Discover more information about what your homeowners insurance policy covers.

If you want to find cheap home insurance coverage in Albuquerque, start with looking around and comparing a variety of different policies. Take a look at the summary below showing average homeowners insurance rates in Albuquerque to begin your home insurance search with as much info as you can. It's important to remember that the cost of your homeowners insurance is often based on the coverage limits you choose as well as a variety of other factors.


Albuquerque, New Mexico, homeowners insurance:
  1. Rates by company
  2. Rates by coverage level
  3. Rates by ZIP code
  4. Insurance bundle discounts

Home insurance in Albuquerque by insurance company

What you pay for homeowners insurance in Albuquerque will depend on the insurance company you get your policy through. Safeco offers the most affordable home insurance in Albuquerque, at just $841 per year. This compares favorably to the city’s average homeowners premium of $1,253.

Below you'll find a list of the cheapest home insurance companies in Albuquerque, New Mexico to help you begin your search.


AFFORDABLE HOMEOWNERS INSURANCE COMPANIES IN ALBUQUERQUE
CompanyAverage Annual Rate
Safeco$841
Liberty$909
Allstate$997
State Farm$1,057
Travelers$1,650

Average homeowners insurance costs in Albuquerque by coverage level

The amount of homeowners coverage you select has an impact on your insurance premiums. Homeowners in Albuquerque who carry $200K in dwelling coverage pay an average of $933 per year, while those with coverage up to $400K pay around $1,543 per year.


HOMEOWNERS INSURANCE RATES IN ALBUQUERQUE — POPULAR COVERAGE LIMITS
Coverage LevelAverage Annual Rate
$200K Dwelling$933
$400K Dwelling$1,543

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Albuquerque home insurance prices by ZIP code

Depending on which part of Albuquerque you live in, you may see vastly different home insurance costs. One of the factors that insurers use when pricing your insurance policy is the number of claims filed in your surrounding area. As such, the location of your house can dramatically affect your home insurance rates.

The cheapest home insurance rates in Albuquerque are available in 87109. In 87109, the typical home insurance policy costs $1,077 per year — $176 less than the citywide average in Albuquerque. The below table shows the best places to live in Albuquerque if you’re looking for affordable homeowners insurance.


AFFORDABLE ZIP CODES FOR HOMEOWNERS INSURANCE IN ALBUQUERQUE
ZIP CodeAverage Annual Home Insurance Rate
87109$1,077
87111$1,078
87122$1,080

Other areas of Albuquerque, however, face homeowners rates that are higher than the city average . Crime rates, fire risk, and even your how close you are to emergency services could lead insurance companies to see certain neighborhoods as higher risk, which could drive up area rates. An average annual rate of $3,156 makes 87131 the most expensive ZIP code in Albuquerque for homeowners coverage.


EXPENSIVE AREAS FOR HOMEOWNERS INSURANCE IN ALBUQUERQUE
ZIP CodeAverage Annual Home Insurance Rate
87131$3,156
87115$1,264
87102$1,244



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Money-saving tip: bundle home and auto insurance in Albuquerque

If saving money is your primary concern, you might purchase insurance for your home and auto through the same insurance company. Bundling your homeowners and auto insurance can save you a substantial sum each month on your auto insurance bill. Bundling policies in Albuquerque could, in fact, lead to average annual savings of 13%.


CHEAPEST AUTO INSURANCE RATES WITH HOME BUNDLE IN ALBUQUERQUE
CompanyAvg. Annual Auto Insurance Rate (Bundle)
GEICO$893
USAA$1,074
State Farm$1,108
Farmers$1,441
Progressive$1,580

A great way to save on insurance is to bundle your home and auto policies with the same insurance company. Call 855-493-9728 to speak with an expert today.


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