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New Mexico Homeowners Insurance Quotes

In New Mexico, the 'Land of Enchantment,' you can easily find many wonders, but worthwhile homeowners insurance quotes aren't so easy to find. Now that you've landed on, that can change. Call us at 1-877-919-2740 or enter your information above and we'll enchant you with up to 8 quotes from multiple, highly-rated carriers.

Protect yourself with New Mexico home insurance

Why do you need New Mexico homeowners insurance? The state is vulnerable to more natural disasters than you might think. In fact, the original Smokey Bear, a black bear whose habitat was destroyed by a wildfire, was found in New Mexico in 1950. Needless to say, New Mexico has experienced many widespread forest fires.

Fire damage, along with thunderstorm damage, winter storm damage, and wind damage, is covered by a standard homeowners insurance policy. Wildfires, however, frequently cause flash flooding. The fire wipes out the trees whose roots serve as natural buffers against flood waters.

Flood damage (which may seem out of place in an arid climate such as New Mexico's) is actually common, and it is excluded from standard policy coverage. If you live near water, consider purchasing a separate policy through the National Flood Insurance Program.

Home insurance rates in New Mexico

The average New Mexico home insurance rate in March 2014 was $758.00. It appears that rates have increased since February when average rates in New Mexico were around $713.00. This reflects the annual cost of a standard home policy and does not include flood insurance or earthquake insurance.

New Mexico homeowners insurance discounts

No matter how rates in the state fluctuate, you can always look for ways to save money on your premiums. You might be missing some significant savings. Call us or fill in your information above and we can begin qualifying you for price breaks. Some common ways that you could save are:

  • Bundle: Saving up to 20% is as easy as purchasing your auto insurance and your New Mexico home insurance through the same carrier.
  • New home: Homes built within the last 10 years can typically qualify for price breaks.
  • Non-smoking: If no one in your household smokes, you could both qualify for a discount and make wildfires less likely to spread. It's a price break that Smokey will thank you for.
  • Security: If you install a monitored security system in your home, you could pay less for your premiums. Deadbolt locks also could help you save up to 5%.
  • Retiree: Retired homeowners older than 55 years can typically get discounts.

Homeowners insurance: what your neighbors pay

Are your fellow New Mexicans getting all of the available homeowners insurance discounts? Now you can find out and get a general idea of what to pay. We've listed the last 5 New Mexico homeowners insurance policies sold by below. Remember that premiums may vary based on differences in individual situation or house type.

Home 1Home 2Home 3Home 4Home 5
Premium Amount $1,349 $546 $466 $1,548 $1,570
Premium with Auto Discount$1,147†$464†$396†$1,316†$1,335†
Carrier Travelers Safeco Hartford Safeco Safeco
Zip 87109 87112 87124 88242 88220
Year Built 1979 1970 1979 1985 1960
Foundation type Slab Slab Slab Slab Crawl Space
Lot Size N/A 6,098 Sq Ft N/A N/A N/A
Square Feet N/A 1,220 Sq Ft N/A N/A 1,574 Sq Ft
Bedrooms N/A 4 N/A N/A 3
Bathrooms N/A 2.0 N/A N/A 2.0

Primary Heat Source Central Gas Central Gas Central Gas Central Electric Central Electric
† Estimate if the homeowner had bundled coverages.

Standard New Mexico home insurance coverage

There are more important things than your home insurance rates: your coverage, for example. You should know what your policy covers so that you can prepare for any situation. The 6 main aspects of your home life protected by your policy are:

  • Dwelling: Your Dwelling coverage protects the structure of your home from named perils such as fire or wind damage.
  • Other Structures: Structures on your property that are detached from your house also receive protection from your policy.
  • Personal Property: Your policy safeguards the contents of your home, up to your policy limits, from covered events such as theft or fire damage.
  • Loss of Use: If your home becomes so badly damaged that you need to move out while it undergoes repair, your policy can help pay restaurant and hotel bills while you're displaced.
  • Personal Liability and Medical Payments: If someone sues you because of an injury sustained on your property, Personal Liability can help you pay legal costs and the final judgment. If someone becomes injured on your property but decides not to sue, Medical Payments can help pay medical bills.

Still want more information? Check out the New Mexico Office of Superintendent of Insurance.