Finding a renters insurance policy doesn’t need to be confusing. Compare rates from New Mexico by city and carrier below.
Renters insurance is an optional but important insurance coverage. It keeps your stuff safe in the event your rental property suffers damage from a common incident. A renters insurance policy covers your belongings in the event of smoke or fire damage, a wind storm, theft or vandalism, and an array of other misfortunes.There are often gaps in the cost of renters insurance policies by state. Renters insurance costs in states may differ based on the number of — and value of — renters policy claims filed in that state, and depend on the value of the belongings covered by the policy.
Getting renters insurance in New Mexico is more expensive than the national average. The typical annual renters insurance rate in New Mexico is $184, $0 more expensive than the average rate across all US states.
The easiest way to acquire a cheap renters insurance policy in New Mexico is to compare rates from as many insurers as possible. Learn how much renters insurance costs in New Mexico by referencing the below data. Individual rates may vary depending on coverage options and the value of the items insured.
Rates for renters insurance in New Mexico vary depending on the insurance company you use. State Farm sells the cheapest renters insurance policies in New Mexico, at only $126 annually. This compares favorably to the state mean rate of $184, offering a 32% price break on the state's average rate.
Begin the hunt for cheap renters insurance by reviewing the cheapest New Mexico renters insurance carriers, listed below.
|Insurer||Average Annual Rate in New Mexico|
Not all New Mexico cities have equal renters insurance rates. Policies are often priced on local variables such as the number of local claims filed, meaning your ZIP code could have a major impact on how much you pay.
The best renters insurance in New Mexico is found in Las Cruces. The average renters insurance policy in Las Cruces runs only $171 per year — $23 less than the statewide average. Reference the below table to see the cheapest cities in New Mexico for renters insurance.
|City||Average 12-Month Renters Insurance Rate|
If you’re seeking ways to save on your insurance expenditures, consider buying your renters and auto policies from the same insurance company. A renters and auto insurance bundle in New Mexico can save you a substantial sum each month on car insurance. In fact, bundling policies in New Mexico leads to an average annual savings of $64.
|Avg. 12-Month Auto Insurance Rate (No Bundle)||Avg. Annual Auto Insurance Rate (Bundle)||Annual Bundle Savings||Bundle Savings %|
One of the best ways to save on auto insurance is bundling. Get started today!