The 3 Best New Mexico Homeowners Insurance Companies

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New Mexico’s arid climate makes the state less prone to natural disasters, keeping homeowners insurance premiums low in the state. In 2012, the average annual premium in the Land of Enchantment was just $844 — nearly $200 less than the national average that year.

Although homeowners in New Mexico don’t have to worry much about property damage due to the elements, other threats such as theft and vandalism continue to pervade. In order to ensure that you’re receiving the optimal policy to protect your most valuable asset, shop around and compare coverage options and prices.

To help you narrow down your search for high-quality cheap New Mexico homeowners insurance, we’ve outlined our top picks for the state. We’ve also included an online quote tool so you can easily obtain accurate estimates for policies in your area.

Find the Best Home Insurance

Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.

The Simple Dollar’s Top Picks for Homeowners Insurance in New Mexico

  • State Farm
  • Farmers Insurance
  • Liberty Mutual

State Farm

Backed by an A++ rating from A.M. Best and boasting one of the largest claims networks in the world, State Farm is a good company to have on your side if disaster strikes.

Filing with State Farm is hassle-free — you can call the company’s 24-hour claims hotline, go online, meet with one of their many local New Mexico homeowners insurance agents, or use the handy PocketAgent mobile app. Claims support tools like State Farm HomeIndex, which allows you to keep a running inventory of your covered possessions and their respective worth, remove the guesswork and help you file claims with accuracy and efficiency.

Should your home sustain pipe damage or flooding and require water mitigation or flood repairs, State Farm’s Premiere Service Program can connect you with a vetted contractor in your area to carry out the repairs necessary to return your home to safe living conditions.

State Farm offers standard insurance policies to nearly every type of New Mexico dwelling, including single-family homes, condominiums, mobile homes, and farms/ranches. Policies can be customized with add-on coverages to protect against personal liability and injury, identity theft, and damage made to home offices and work studios.

State Farm also helps New Mexico residents save on their policies by offering a Discount Double Check feature, which ensures that any premium deductions you are eligible for are automatically applied — so you can have the peace of mind that you are receiving quality coverage for the lowest price possible.

Farmers Insurance

Farmers Insurance extends multiple discount opportunities and superior claims management tools to New Mexico residents, making it a popular option for cheap homeowners insurance in the state. Farmers offers standard premium deductions like those for policy bundles and installing protective devices, as well as those for policyholders who have made “green” home efficiency renovations or have recently had an inspection on their home, and homes with non-smokers. Farmers also provides additional savings to homeowners who have recently replaced their roofs, so if it’s time for you to do so, keep this discount in mind when selecting a provider.

In the event that you have to file a claim, Farmers has among the best claims management tools in the industry. You can report your claim over the phone, in person, online, or using their iClaim mobile app. Once your claim is received, it is assigned to a specialist and can be easily tracked until its resolution using Farmers’ online Claims Tracker tool.

Liberty Mutual

Liberty Mutual’s vast affiliate network offers many discounts and benefits to customers, making the company a great option for New Mexico homeowners looking to save on their insurance premium. The company’s affinity network includes over 14,000 partnered organizations, employers, and alumni associations around the country and provides exclusive group discounts and policy rates to members.

Liberty Mutual’s already affordable rates are lowered further with multiple savings opportunities like premium deductions for home and auto insurance policy bundles, installing security devices, opting for 100% replacement coverage, and obtaining a quote from Liberty Mutual before your current homeowners insurance policy expires.

Liberty Mutual’s affiliate network is also a good resource to have on your side if your home suffers a loss. While many companies offer 24-hour phone claim support services, Liberty Mutual does you one better by offering emergency repair services 24 hour hours a day, 365 days a year. After getting in touch with a Liberty Mutual representative, the company will connect you with a reputable contractor to perform any maintenance necessary to make your home livable and safe. Liberty Mutual guarantees the work done on your home for one calendar year, so you can feel confident in the quality you receive.

Find the Best Home Insurance

Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.

Don’t own your New Mexico home? Check out our top picks for Best Renters Insurance.