Protect Your Home with NM Home Insurance
The state of New Mexico, otherwise known as the “Land of Enchantment” is known for its nature and scenic views. But despite the beautiful places to see and visit, you know that living here can mean dealing with some harsh weather. No matter where you call home, whether it’s Albuquerque, Las Cruces, Rio Rancho, Santa Fe or somewhere else in the state, it’s important to protect your personal property from potential damages with a good New Mexico home insurance plan. With the AARP®
Homeowners Insurance Program from The Hartford,1
you can customize your seguro de viviendas
policy to suit your home’s unique needs and our team can help you get a NM home insurance policy that fits your budget.
Average New Mexico Homeowners Insurance Rates
According to the Insurance Information Institute, the average New Mexico homeowners insurance rate is $1,151. The national average is $1,311 and New Mexico ranks as the 29th most expensive state in the country for home insurance.2
Different factors affect New Mexico home insurance rates, like your zip code and the crime rates in your area. Since New Mexico homeowners all have different homes and properties, home insurance premiums vary, and neighbors may even have different rates to pay.
Standard Coverages Under New Mexico Home Insurance
Your New Mexico home insurance comes with standard coverages to help protect your house and belongings. With home insurance, New Mexico residents can expect to find these insurance coverages:
La cobertura de vivienda
to help protect your home and the structures directly attached to it. This includes your electric system, walls and roof. So, if a tree falls down during a storm and lands on your roof, this can help cover your repair costs.
La cobertura de propiedad personal
, which helps protect your belongings if they’re damaged. For instance, if a fire breaks out and destroys your furniture, this can help cover the costs to fix or replace what’s damaged.
helps protect you if you’re responsible for someone’s injury or property damage. Let’s say you’re cutting a tree down and one of the logs rolls onto your neighbor’s property and damages their car. This coverage can help cover their repair costs.
Medical payments coverage to help pay for someone’s treatment costs if they’re injured on your property. For example, if your friends are visiting and one of them slips on your loose carpeting and hurts themselves, your home insurance can help cover their treatment cost.3
Other structures coverage, which helps protect property not attached to your home. This can include a shed, fence or garage. If someone drives through your fence, for example, your home insurance policy can help cover your repair costs.
Loss of use coverage to help cover your living expenses if you can’t live in your house after it’s damaged. For example, your home insurance policy can help cover your hotel bills if a fire damages your home.
Additional Coverages for NM Home Insurance
You may need to add more coverage to your NM home insurance. The AARP Homeowners Insurance Program from The Hartford offers the following additional coverages to increase your home’s protection:
Identity fraud expense coverage to help cover your out-of-pocket expenses, up to certain limits, as you recover from a fraud incident.
Reimbursement for replacing locks if your keys get stolen or you lose them. This coverage pays up to $500, with a $100 deductible.
Personal injury liability coverage to help cover damages from libel or slander claims.
“New for Old” Protection,‡‡ which helps replace your destroyed property with new items that are of the same quality.
Equipment breakdown coverage to help cover your costs to fix or replace appliances or electronics that break down over time. It also provides coverage if you want to make “green” upgrades. It pays up to 125% of your cost to replace any covered equipment with items that are similar, but more energy efficient or environmentally friendly. Keep in mind, this does not include coverage for normal wear and tear.
Disappearing Property Deductible,‡‡ which lowers your deductible each year when you go three consecutive years with a clean claims history.
New Mexico & Flood Insurance
New Mexico can experience severe storms and monsoons, leading to flash floods. However, if flooding damages your home or property, your home insurance won’t cover it. You’ll need to get New Mexico flood insurance to help pay for flood damages. Your local insurance agent can help talk you through the details of flood insurance protection.
New Mexico residents should always research what insurance company is best for them. It’s always a good idea to get home insurance quotes and review the coverage options because homeowners insurance companies aren’t all the same. You’ll want to work with a company that specializes in protecting homes. The Hartford is backed by decades of experience and has the only home insurance program endorsed by the AARP.
Our team is here to help you protect your home and property. We’re known for providing great customer service and will work with you to get make sure you get the right coverage at the right price. Get a NM cotización de seguro de viviendas
today and see if you qualify for a multi-policy discount.
Last Updated: October 5, 2023
2 Insurance Information Institute (III),“Facts and Statistics: Homeowners and Renters Insurance”
3 Medical benefits are calculated on the basis of usual, customary and reasonable charges.