Property insurance in NM covers a home and its contents. It also provides protection against liability for any injuries or property damage you or any members of your family, including household pets, cause. Property insurance also pays temporary living expenses while living away from home because of a natural disaster.

A New Mexico homeowners insurance policy covers most types of natural disasters including fire, hurricanes, hail, lightning and other events specified in the policy. Earthquake and flood coverage typically will require separate policies. NM property insurance does not protect against problems caused by poor maintenance.

Consider these three points when choosing New Mexico homeowners insurance:

1. The location of the property may require additional home insurance. New Mexico homes may require additional protection against hail.

2. Effective loss-control measures can control the premium for NM property insurance. This can include installing an alarm system for theft.

3. Include the replacement of detached structures in the policy. New Mexico home insurance should allow you to rebuild your house, including structures such as a garage, gazebo or tool shed. Detached structures are typically covered for about 10 percent of the value of the house.

Action Steps
The best contacts and resources to help you get it done

Collect quotes for a variety of New Mexico homeowner insurance plans

Obtaining multiple quotes from different sources can be an effective method of identifying the general terms of these policies and the premiums you can expect to pay.

I recommend: The search function at Respond allows you to specify a city within New Mexico. Most Choice specializes in property insurance and allows you to search for quotes by zip code.

Find New Mexico property insurance brokers who represent major carriers

You may want to obtain New Mexico homeowners insurance through an agent who represents a major carrier in the state and who can make a recommendation based on the specific needs of your situation.

I recommend: State Farm sells New Mexico homeowners insurance and you can find agents within a specified area of the state. Go to Allstate and search for agents in a given location. This website also allows you to search for agents by name.

Get a New Mexico home insurance policy from a local agent

You may wish to contact local independent New Mexico home insurance providers rather than dealing with different national insurers. Often, a local agent can write a more customized plan for you.

I recommend: The Chavez Insurance Agency belongs to the Farmers Insurance Group and serves only New Mexico. Insurance Unlimited provides auto and home insurance to both northern and southern New Mexico.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Conduct a home inventory to determine the replacement cost for the contents of your home insurance. New Mexico insurance will cover the contents of your house up to a specified percentage of the value of your home. You should consider off-premises coverage if you have a substantial amount of number of belongings outside of your home quickly after a disaster.
• •  New Mexico property insurance typically covers expensive items such as furs, jewelry and silverware up to a fixed amount. You will need a special property endorsement to replace these items if their value exceeds the amount the primary policy covers. A New Mexico property insurance plan endorsement covers items that are lost or stolen.