The best homeowners insurance coverage available in New Mexico is the basic standard policy with additions to cover any and all personal possessions and other appropriate additions to the policy, paying the lowest possible rate and not overpaying.
Surveys taken in New Mexico, reported that the average insurance rate was nearly $700.00 per year and this reflected an increase from 2011. These costs were standard insurance policies that included dwelling replacement, other structures, contents, loss of home expenses and liability.
Speak at length with one our independent insurance agents in New Mexico about fitting in all the possible discounts in your homeowners plan, such as bundling home and auto insurance. Discounts are also offered if you have had no claims turned in and if you have a burglar alarm and fire alarms on your property.
The independent agent will add in any upgrades you have made to your property such as granite kitchen countertop, hardwood floors and appliances that are stainless steel. Any materials that are put into the home that is above standard materials should be considered.
While flood insurance is optional for homeowners, there are some residents of New Mexico who may be required to purchase flood insurance if they reside in specific locations of the state, as designated by FEMA, such as the county of Valencia and Las Maravillas. If your home has a mortgage you will have no choice but to add flood insurance if you live in the new designated flood areas. You will be given at least 60 days to comply. If the homeowner does not comply then the mortgage company will buy this policy for you and your rate could be much higher.
Contact your independent agent in Albuquerque, Rio Rancho or Las Cruces for a calculation of the lowest possible insurance rate with the coverage that will completely cover you and your family.