Best Home Insurance in New Mexico (2023)

Compare personalized Home insurance rates in New Mexico

Home Insurance in New Mexico

For most homeowners, protecting their home is important, but finding the right home insurance in New Mexico can be a challenge. The good news is with the right information on New Mexico home insurance requirements, it may be possible to find just what you need in your budget. For quality but cheap homeowners insurance in New Mexico, consider these key details.

Home Insurance Companies in New Mexico

It’s important to have information about numerous home insurance companies in Mexico before making a decision. You can find the top rated homeowners insurance companies in New Mexico easily right here. To gather information on homeowners insurance agencies in New Mexico, simply search for available companies in your area. Work with independent insurance agents in New Mexico to gain more insight into what’s available to you. The best home insurance companies in New Mexico help keep costs down while keeping protection high.

How to Get the Best Rates for Home Insurance in New Mexico

To get the best rates for home insurance here, use our tool. Just enter your zip code here, and you’ll have access to all of the companies in your area for you to consider.


<zipcode>Find The Cheapest Home Insurance In Your Area:</zipcode>


How Much Does Homeowners Insurance Cost in New Mexico?

The average annual premium in New Mexico is $982, which is significantly less than the national average of $1,173. The cheapest home insurance in New Mexico may not provide enough coverage for your needs. That’s why you need to obtain several home insurance quotes in New Mexico to compare options.


<twitter>The average annual premium in New Mexico is $982, which is significantly less than the national average of $1,173. </twitter>


List of Homeowners Insurance Companies in New Mexico

To learn more about your options, enter your zip code right here. When you do, you’ll have a list of available homeowners insurance companies available to New Mexico residents to use.

Home Homeowners Insurance Is Calculated in New Mexico

Homeowners insurance is calculated based on how much risk is present within your local community. Here is some insight into what factors play a role in the costs you’ll pay for coverage.


<qa>1;Crime;Crime in New Mexico includes both property crime as well as violent crime. The crime rate here is 7.83 per 1,000 residents. The national average is 4. The chances of being a victim in the area is 1 in 128.</qa>

<qa>2;Weather/Climate;Weather impacts home insurance rates as well. Climate and weather in New Mexico isn’t as bad as other areas. Key concerns include drought, wildlife, and extreme heat. Wildlife risk is a concern in terms of home insurance costs and can raise your costs slightly.</qa>

<qa>3;Home Values;Home values in New Mexico are also a key factor. Property owners with a higher home value may pay more for insurance. As of March of 2019, the median home value in the state is $195,100. However, in the past year, home values have risen nearly 8 percent, meaning values are growing.</qa>

Home Insurance Requirements in New Mexico

Is Homeowners Insurance Required in New Mexico?

New Mexico doesn’t require homeowners to maintain any specific type of home insurance coverage. However, if you have a loan on your home, your lender more than likely does. Most lenders require property owners to pay for comprehensive coverage to protect the structure and liability risks of the home.

What Does Home Insurance Cover?

Most home insurance policies in New Mexico cover the structure and the contents of the home, including your personal belongings. This includes coverage from risks such as fire, lightning damage after a storm, or wildlife (in most cases). It also provides liability insurance to cover your financial loss should someone be hurt on your property.

Homeowners Insurance for New Properties in New Mexico

As a new property owner, home insurance is nearly always a requirement from your lender. A policy like this should cover the high value of the structure.

Homeowners Insurance for Old Properties in New Mexico

Older properties may wish to take into consideration risks associated with electrical fires, plumbing problems, and the condition of the structure. Policies should still remain present if someone is living at the structure.

Renters Insurance in New Mexico

Renters insurance provides financial protection for property owners who rent their home. It covers your belongings and your liability risks in New Mexico. Property owners, such as landlords, do not carry a requirement to maintain protection for your belongings, only their structure.


If you rent a home, apartment, condo, or other structure, invest in your own coverage. It can help minimize risks to you should a fire, theft, or vandalism event happen.


<zipcode>Compare Renters Insurance in New Mexico</zipcode>


Compare Home Insurance in by City New Mexico

Most people want the cheapest home insurance in New Mexico. To find it, you need to compare home insurance quotes in your local area. Here are a few examples.


<qa>1;Home Insurance Quotes in Albuquerque, New Mexico;Albuquerque, the largest city in the state, is by far the largest by population with 558,545 people living in it. This community has a high home value at $201,600.</qa>

<qa>2;Home Insurance Quotes in Las Cruces, New Mexico;The second largest community here is Las Cruces with 101,712 people living in it. The median home value here is $174,100 and home values are rising here.</qa>

<qa>3;Home Insurance Quotes in Rio Rancho, New Mexico;A smaller, but vibrant community, Rio Rancho is home to about 96,159 people. Insuring your home here means choosing a policy for a median home value of $192,500.</qa>

<qa>4;Home Insurance Quotes in Santa Fe, New Mexico;Santa Fe, New Mexico is small, but diverse. It is home to 83,776 people. The median home value here is $392,300, making it one of the highest home value areas, too.</qa>

<qa>5;Home Insurance Quotes in Roswell, New Mexico;Known for its unique history, Roswell is home to 47,775 people. The area has a median home value of $169,500 but also has few homes for sale.</qa>


Bonus: Most Expensive Homes in New Mexico

If you think your home is expensive to insurance, consider living in one of these homes, the most expensive in the state:

  • 117 Tesuque Ridge in Santa Fe is valued at $13.6 million.
  • 196 Circle Drive in Santa Fe, with its 1930s charm, is valued at $11.5 million.
  • 435 Acequia Madre, also in Santa Fe, has a value of $9.9 million.