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New Mexico Home Insurance

New Mexico home insurance provides the much needed property damage coverage for your home. There are a few policies to choose from depending on your needs. The basic HO-2 policy offers coverage for the following perils: fire, smoke, hail, wind, falling objects, theft, vandalism, vehicles, aircraft, frozen pipes, a sudden cracking, and overflowing steam from air conditioners and water heaters. The broad HO-3 policy offers bodily injury protection as well as added property damage coverage with added peril coverage. When you purchase a home, mortgage lenders require you to carry New Mexico home insurance for the duration of the loan.

New Mexico Home Insurance Rates

The rates for New Mexico can be affected by such things as heat, strong storms, and wildfires. If you live in an area that has a high occurrence of fires and storms, you can expect your New Mexico home insurance rates to reflect that. Before buying a home in these areas, you can shop around for a better deal.

Even though wildfires can drive the rates up, in 2003 the average homeowner spent less than the national average for New Mexico home insurance. Homeowners spent an average $551 in 2003. This marked a 22.7% increase from 2001 to 2003.

Saving Money

Many homeowners wish to reduce their New Mexico home insurance premium. By following a few simple suggestions, you can reduce your premium. Many people find that they can increase their homes security and receive a discount. This includes installing an alarm system, deadbolts, and smoke detectors. Many homeowners have learned that insurance companies offer discounts when you purchase both your home and auto insurance through them. Finally, savings can be found by simply shopping around before buying your New Mexico home insurance.

New Mexico Insurance Division

Mailing Address:
P.O. Box 1269
Santa Fe, NM 87504-1269

Physical Address:
P.E.R.A. Bldg., 4th Floor
1120 Paseo de Peralta
Santa Fe, New Mexico 87501
Phone: (505) 827-4601 or (800) 947-4722


For other New Mexico Insurance Resources, See:


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