Find a free homeowner insurance quote in New Mexico in just a matter of moments. for your condo, stick built house, or mobile home.
Homeowner insurance coverage in New Mexico has one of the lowest average insurance rates in the United States. Annual premiums in the state are pegged at a low of $555 to a high of $638.
There are two main parts in a standard policy of homeowner insurance in New Mexico. These parts are:
· Dwelling Coverage: Protects the actual structure of the home and detached buildings such as garages and sheds
· Contents Coverage: Protects household items and personal belongings inside the house
The major coverage are further subdivided into other types of protection, foremost of which are:
· Personal Liability: Covers lawsuits and claims resulting from bodily harm and property damage to another person
· Medical Expense: Covers medical expenses of individuals injured on the homeowner’s property
· Reimbursement for Living Expenses: Funds necessary for the homeowner and his/her family to maintain a normal standard of living while the home is being repaired or rebuilt
Like most states, a New Mexico homeowner insurance policy excludes coverage for damages caused by earthquakes and floods. Earthquake coverage is a special rider that could be added to the basic policy for extra cost. A similar rider is offered for flood coverage. However, the better option is to purchase a policy with the National Flood Protection Program because it offers far more superior terms to flood coverage offered by private insurance companies.
Although New Mexico homeowner insurance is relatively affordable, there are ways by which homeowners could still lower their premiums. These measures include the following…
· Comparing multiple quotes from various insurance providers in the area and finding the policy that is not only within the budget but also provides the maximum coverage needed by the homeowner.
· Get an umbrella policy or several types of policies from the same insurance company
· Raising deductibles, which is the amount that the homeowner will shoulder out of his or her own pocket. The deductible should not exceed the amount of money that one could get in a short period of time. A very important rule to remember about deductibles is that it should not be set too high. Although having a high deductible means lower premiums, this also means that the homeowner has the greater share of the expenses when claims are made. It is the insurance who should shoulder the greater financial burden, not the homeowner.
· Maintaining credit score – Higher credit scores mean lower insurance premiums. This is especially true if the homeowner has been diligently paying his or her credit card bills and mortgage and other loans.
· Avail of discounts – Homeowner insurance in New Mexico gives a 5% discount to homeowners who have installed wrought iron bars on their doors and windows and a 10% discount for those who have installed working electronic burglar alarms. Other discounts are available if the home is near the fire station or a fire hydrant and if the homeowner and his/her family are non-smokers or choose to stop smoking.
Find homeowner insurance rates in each of these New Mexico cities or counties
Alamogordo – Albuquerque – Anthony – Artesia – Aztec – Belen – Bernalillo – Bloomfield – Carlsbad – Chaparral – Clovis – Corrales – Deming – Espanola – Farmington – Gallup – Grants – Hobbs – Kirtland – Las Cruces – Las Vegas – Los Alamos – Los Lunas – Lovington – North Valley – Portales – Raton – Rio Rancho – Roswell – Ruidoso – Santa Fe – Shiprock – Silver City – Socorro – South Valley – Sunland Park – Truth or Consequences – White Rock – Zuni Pueblo – Bernalillo County – Catron – Chaves – Cibola – Colfax – Curry – De Baca – Dona Ana – Eddy – Grant – Guadalupe County – Harding County – Hidalgo County – Lea – Lincoln – Los Alamos County – Luna – McKinley County – Mora – Otero – Quay County – Rio Arriba County – Roosevelt County – San Juan County – San Miguel County – Sandoval – Santa Fe County – Sierra – Socorro – Taos – Torrance County – Union – Valencia County
Homeowner insurance in New Mexico provides coverage in the event of damage to your property from theft, fire, floods, and natural disasters as well as protects you from liability for injuries or damage caused to people on your property. The right homeowner insurance plan can help you make the best choices about this important protection for you and your family. Get free quotes on home owner insurance in New Mexico above.