Best Homeowners Insurance in New Mexico
Best cheap home insurance in New Mexico
Cheapest home insurance in New Mexico
State Farm has the cheapest homeowners insurance in New Mexico, with an average rate of $2,183 a year. This equals $182 a month, or 35% less than the state average of $280 per month.
The next-cheapest New Mexico home insurance rates come from Allstate at $210 a month. Allstate offers more home insurance discounts than State Farm does, so it may be the most affordable company for you if you qualify for a few of them.
Compare home insurance quotes from both companies to see which one will give you the best offer.
New Mexico’s cheapest home insurance companies
| Companies | Annual rate | Monthly rate | LendingTree score | |
|---|---|---|---|---|
 | State Farm | $2,183 | $182 |  |
 | Allstate | $2,519 | $210 | |
 | Farmers | $3,890 | $324 |  |
 | Travelers | $4,826 | $402 | |
Best home insurance companies in New Mexico
New Mexico’s best home insurance company overall is State Farm. It has the state’s lowest average rate as well as the best customer satisfaction score.
Farmers offers the best selection of discounts, while Allstate has the best optional coverages.
New Mexico’s best homeowners insurance companies
| Company | Best for | Annual rate | Customer satisfaction* | Complaint index** |
|---|---|---|---|---|
| State Farm | Affordable rates | $2,183 | 643 | 1.05 |
| Farmers | Discounts | $3,890 | 609 | 0.85 |
| Allstate | Coverage options | $2,519 | 631 | 1.3 |
**Source: National Association of Insurance Commissioners (NAIC). Lower is better; 1.0 is average.
Best company overall: State Farm
For the best homeowners insurance in New Mexico, get a quote from State Farm. State Farm has the state’s most affordable home insurance rates of around $182 a month. That’s 13% cheaper than runner-up Allstate.
State Farm also earned the best customer satisfaction score from J.D. Power among the companies we surveyed.
PROS
- Cheapest rates in the state, on average
- Great customer satisfaction score from J.D. Power
CONS
- Fewer discounts and add-on coverages than most other companies
- Complaint rating is average
Best for discounts: Farmers
Farmers offers more homeowners insurance discounts than any other company we surveyed in New Mexico. That’s good, because Farmer’s rates are among the highest in the state.
Farmers offers home insurance discounts for:
- Bundling home and auto insurance or other policies
- Installing certain home safety features or updates
- Going paperless
- Paying your bill on time
PROS
- Many discounts that could save you money
- Good complaint rating
CONS
- Rates are more expensive than many competitors
- Poor customer satisfaction score
Best for coverage options: Allstate
The best home insurance company in New Mexico for coverage options is Allstate. You can add many optional coverages to an Allstate policy, including coverage for:
- Identity theft restoration
- Sports equipment
- Water backup damage
- Yard and garden
PROS
- Affordable average rate
- Many add-on coverage options
- Several discounts
CONS
- Customer satisfaction score is worse than average
- Poor complaint rating
Average cost of homeowners insurance in New Mexico
The average cost of home insurance in New Mexico is $3,354 per year, or $280 per month.
What you pay for home insurance is based on several factors, including where you live within the state and how much coverage you get.
The amount of dwelling coverage
Average home insurance rate by dwelling limit
| Dwelling limit | Annual rate | Monthly rate |
|---|---|---|
| $350,000 | $3,022 | $252 |
| $400,000 | $3,354 | $280 |
| $450,000 | $3,699 | $308 |
New Mexico home insurance rates by city
The cost of homeowners insurance in New Mexico often varies from city to city. In the state’s biggest cities, the average cost of home insurance is:
- Albuquerque, $227 a month
- Las Cruces, $178 a month
- Rio Rancho, $173 a month
- Santa Fe, $164 a month
Home insurance rates near you
| City | Annual rate
Average rates are based on a policy with $400,000 of dwelling coverage and $200,000 of personal property coverage.
| Monthly rate
Average rates are based on a policy with $400,000 of dwelling coverage and $200,000 of personal property coverage.
|
|---|---|---|
| Abiquiu | $2,463 | $205 |
| Adelino | $2,633 | $219 |
| Agua Fria | $1,882 | $157 |
| Alamo | $2,381 | $198 |
| Alamogordo | $2,475 | $206 |
| Albuquerque | $2,725 | $227 |
| Alcalde | $1,971 | $164 |
| Algodones | $2,311 | $193 |
| Alto | $2,749 | $229 |
| Amalia | $2,134 | $178 |
| Amistad | $9,983 | $832 |
| Angel Fire | $3,003 | $250 |
| Animas | $2,146 | $179 |
| Anthony | $1,888 | $157 |
| Anton Chico | $3,847 | $321 |
| Aragon | $2,368 | $197 |
| Arenas Valley | $2,121 | $177 |
| Arrey | $2,104 | $175 |
| Arroyo Seco | $2,193 | $183 |
| Artesia | $5,542 | $462 |
| Atoka | $5,550 | $462 |
| Aztec | $2,120 | $177 |
| Bard | $7,845 | $654 |
| Bayard | $2,051 | $171 |
| Belen | $2,651 | $221 |
| Bent | $2,384 | $199 |
| Berino | $2,134 | $178 |
| Bernalillo | $2,250 | $188 |
| Black Rock | $2,329 | $194 |
| Blanco | $2,186 | $182 |
| Bloomfield | $2,223 | $185 |
| Bluewater Village | $2,010 | $167 |
| Bosque | $2,517 | $210 |
| Bosque Farms | $2,394 | $200 |
| Brimhall | $2,403 | $200 |
| Broadview | $6,981 | $582 |
| Buckhorn | $2,192 | $183 |
| Buena Vista | $3,831 | $319 |
| Caballo | $2,207 | $184 |
| Canjilon | $2,373 | $198 |
| Cannon AFB | $6,821 | $568 |
| Canones | $2,373 | $198 |
| Capitan | $2,355 | $196 |
| Caprock | $5,691 | $474 |
| Capulin | $7,926 | $661 |
| Carlsbad | $5,481 | $457 |
| Carnuel | $2,287 | $191 |
| Carrizozo | $2,470 | $206 |
| Carson | $2,111 | $176 |
| Casa Blanca | $2,220 | $185 |
| Causey | $5,621 | $468 |
| Cebolla | $2,373 | $198 |
| Cedar Crest | $2,277 | $190 |
| Cedar Grove | $2,393 | $199 |
| Cedarvale | $2,308 | $192 |
| Cedro | $2,370 | $198 |
| Cerrillos | $2,256 | $188 |
| Cerro | $2,111 | $176 |
| Chacon | $2,346 | $196 |
| Chama | $2,288 | $191 |
| Chamberino | $2,191 | $183 |
| Chamisal | $2,140 | $178 |
| Chamita | $2,252 | $188 |
| Chaparral | $2,341 | $195 |
| Chimayo | $2,384 | $199 |
| Church Rock | $2,386 | $199 |
| Cimarron | $2,699 | $225 |
| Claunch | $1,952 | $163 |
| Clayton | $5,494 | $458 |
| Cleveland | $2,346 | $196 |
| Cliff | $11,251 | $938 |
| Clines Corners | $2,452 | $204 |
| Cloudcroft | $2,234 | $186 |
| Clovis | $6,905 | $575 |
| Cochiti Lake | $2,442 | $204 |
| Cochiti Pueblo | $2,557 | $213 |
| Columbus | $3,082 | $257 |
| Conchas Dam | $4,988 | $416 |
| Continental Divide | $2,199 | $183 |
| Cordova | $2,383 | $199 |
| Corona | $2,310 | $193 |
| Corrales | $2,052 | $171 |
| Costilla | $2,892 | $241 |
| Counselor | $2,190 | $183 |
| Coyote | $2,146 | $179 |
| Crossroads | $5,691 | $474 |
| Crownpoint | $2,081 | $173 |
| Cuartelez | $2,331 | $194 |
| Cuba | $2,227 | $186 |
| Cubero | $2,220 | $185 |
| Cuervo | $5,256 | $438 |
| Datil | $2,367 | $197 |
| Deming | $2,980 | $248 |
| Derry | $2,244 | $187 |
| Des Moines | $8,465 | $705 |
| Dexter | $4,869 | $406 |
| Dixon | $1,935 | $161 |
| Dona Ana | $11,399 | $950 |
| Dulce | $2,211 | $184 |
| Eagle Nest | $2,499 | $208 |
| Edgewood | $2,421 | $202 |
| El Cerro | $2,620 | $218 |
| El Cerro Mission | $2,629 | $219 |
| El Prado | $2,133 | $178 |
| El Rancho | $2,248 | $187 |
| El Rito | $2,277 | $190 |
| Eldorado at Santa Fe | $1,910 | $159 |
| Elephant Butte | $2,389 | $199 |
| Elida | $5,621 | $468 |
| Embudo | $1,960 | $163 |
| Encino | $2,858 | $238 |
| Espanola | $2,383 | $199 |
| Estancia | $2,665 | $222 |
| Eunice | $6,732 | $561 |
| Fairacres | $2,067 | $172 |
| Farmington | $2,023 | $169 |
| Faywood | $2,309 | $192 |
| Fence Lake | $2,276 | $190 |
| Flora Vista | $2,298 | $192 |
| Floyd | $6,728 | $561 |
| Folsom | $9,983 | $832 |
| Fort Bayard | $2,257 | $188 |
| Fort Stanton | $2,273 | $189 |
| Fort Sumner | $7,081 | $590 |
| Fort Wingate | $2,295 | $191 |
| Fruitland | $2,071 | $173 |
| Gallina | $2,340 | $195 |
| Gallup | $2,313 | $193 |
| Gamerco | $2,173 | $181 |
| Garfield | $2,090 | $174 |
| Garita | $5,327 | $444 |
| Gila | $2,194 | $183 |
| Gladstone | $8,465 | $705 |
| Glencoe | $2,641 | $220 |
| Glenwood | $2,263 | $189 |
| Glorieta | $1,954 | $163 |
| Grady | $6,981 | $582 |
| Grants | $1,997 | $166 |
| Grenville | $9,983 | $832 |
| Guadalupita | $3,086 | $257 |
| Hachita | $2,256 | $188 |
| Hagerman | $4,474 | $373 |
| Hanover | $2,168 | $181 |
| Hatch | $2,170 | $181 |
| Hernandez | $2,180 | $182 |
| High Rolls Mountain Park | $2,498 | $208 |
| Hillsboro | $2,269 | $189 |
| Hobbs | $6,663 | $555 |
| Holloman AFB | $2,525 | $210 |
| Holman | $2,707 | $226 |
| Hondo | $2,308 | $192 |
| Hope | $4,492 | $374 |
| House | $6,738 | $562 |
| Hurley | $2,076 | $173 |
| Ilfeld | $2,335 | $195 |
| Isleta | $2,178 | $182 |
| Jal | $6,670 | $556 |
| Jamestown | $2,604 | $217 |
| Jarales | $2,683 | $224 |
| Jemez Pueblo | $2,201 | $183 |
| Jemez Springs | $2,149 | $179 |
| Kenna | $12,712 | $1,059 |
| Kirtland | $2,155 | $180 |
| Kirtland Air Force Base | $11,486 | $957 |
| La Cienega | $1,879 | $157 |
| La Huerta | $5,507 | $459 |
| La Jara | $2,254 | $188 |
| La Joya | $2,565 | $214 |
| La Loma | $4,977 | $415 |
| La Luz | $2,919 | $243 |
| La Madera | $2,637 | $220 |
| La Mesa | $2,197 | $183 |
| La Mesilla | $2,408 | $201 |
| La Plata | $2,178 | $181 |
| La Puebla | $2,397 | $200 |
| La Union | $1,892 | $158 |
| La Villita | $1,981 | $165 |
| Laguna | $2,321 | $193 |
| Lake Arthur | $5,063 | $422 |
| Lakewood | $4,772 | $398 |
| Lamy | $2,155 | $180 |
| Las Cruces | $2,141 | $178 |
| Las Maravillas | $2,630 | $219 |
| Las Vegas | $3,782 | $315 |
| Lee Acres | $2,000 | $167 |
| Lemitar | $2,551 | $213 |
| Lincoln | $2,273 | $189 |
| Lindrith | $2,301 | $192 |
| Lingo | $5,621 | $468 |
| Livingston Wheeler | $5,500 | $458 |
| Llano | $2,146 | $179 |
| Loco Hills | $4,873 | $406 |
| Logan | $7,739 | $645 |
| Lordsburg | $2,414 | $201 |
| Los Alamos | $2,217 | $185 |
| Los Chaves | $2,632 | $219 |
| Los Lunas | $2,631 | $219 |
| Los Ojos | $2,162 | $180 |
| Los Ranchos de Albuquerque | $2,287 | $191 |
| Loving | $5,581 | $465 |
| Lovington | $6,544 | $545 |
| Luna | $2,230 | $186 |
| Magdalena | $2,347 | $196 |
| Malaga | $4,877 | $406 |
| Maljamar | $5,422 | $452 |
| Maxwell | $7,647 | $637 |
| Mayhill | $2,658 | $221 |
| Mcalister | $6,738 | $562 |
| Mcdonald | $5,422 | $452 |
| McIntosh | $2,611 | $218 |
| Meadow Lake | $2,630 | $219 |
| Medanales | $11,233 | $936 |
| Melrose | $8,143 | $679 |
| Mentmore | $2,333 | $194 |
| Mescalero | $2,396 | $200 |
| Mesilla | $2,060 | $172 |
| Mesilla Park | $2,253 | $188 |
| Mesquite | $2,219 | $185 |
| Mexican Springs | $2,206 | $184 |
| Miami | $2,988 | $249 |
| Milan | $2,007 | $167 |
| Mills | $6,475 | $540 |
| Milnesand | $5,998 | $500 |
| Mimbres | $2,224 | $185 |
| Monterey Park | $2,627 | $219 |
| Montezuma | $3,432 | $286 |
| Monticello | $2,290 | $191 |
| Monument | $5,569 | $464 |
| Mora | $3,172 | $264 |
| Moriarty | $2,539 | $212 |
| Mosquero | $7,675 | $640 |
| Mountainair | $2,600 | $217 |
| Mule Creek | $2,161 | $180 |
| Nageezi | $2,379 | $198 |
| Nambe | $2,255 | $188 |
| Napi Headquarters | $2,000 | $167 |
| Nara Visa | $7,001 | $583 |
| Navajo | $2,361 | $197 |
| Navajo Dam | $2,211 | $184 |
| New Laguna | $2,396 | $200 |
| Newcomb | $2,015 | $168 |
| Newkirk | $4,988 | $416 |
| Nogal | $2,666 | $222 |
| North Hobbs | $6,528 | $544 |
| North Valley | $2,271 | $189 |
| Ocate | $3,086 | $257 |
| Ohkay Owingeh | $2,248 | $187 |
| Ojo Caliente | $2,060 | $172 |
| Ojo Feliz | $3,086 | $257 |
| Organ | $2,348 | $196 |
| Orogrande | $11,658 | $972 |
| Paguate | $2,462 | $205 |
| Paradise Hills | $2,291 | $191 |
| Pecos | $3,138 | $261 |
| Pena Blanca | $2,502 | $209 |
| Penasco | $2,103 | $175 |
| Pep | $5,621 | $468 |
| Peralta | $2,666 | $222 |
| Petaca | $11,175 | $931 |
| Picacho | $3,125 | $260 |
| Pie Town | $2,367 | $197 |
| Pinehill | $2,433 | $203 |
| Pinon | $2,966 | $247 |
| Placitas | $2,285 | $190 |
| Playas | $2,457 | $205 |
| Pojoaque | $2,248 | $187 |
| Polvadera | $2,561 | $213 |
| Ponderosa | $2,158 | $180 |
| Ponderosa Pine | $2,387 | $199 |
| Portales | $6,844 | $570 |
| Prewitt | $2,094 | $174 |
| Pueblo Of Acoma | $2,428 | $202 |
| Quay | $12,712 | $1,059 |
| Quemado | $2,187 | $182 |
| Questa | $2,215 | $185 |
| Radium Springs | $2,061 | $172 |
| Rainsville | $3,150 | $263 |
| Ramah | $2,145 | $179 |
| Ranchos De Taos | $2,129 | $177 |
| Raton | $5,390 | $449 |
| Red River | $2,179 | $182 |
| Redrock | $2,192 | $183 |
| Regina | $2,270 | $189 |
| Rehoboth | $2,236 | $186 |
| Reserve | $2,129 | $177 |
| Ribera | $3,122 | $260 |
| Rincon | $2,185 | $182 |
| Rio Communities | $2,659 | $222 |
| Rio Rancho | $2,071 | $173 |
| Rociada | $3,086 | $257 |
| Rodeo | $2,141 | $178 |
| Rogers | $6,923 | $577 |
| Roswell | $4,868 | $406 |
| Rowe | $2,270 | $189 |
| Roy | $6,475 | $540 |
| Ruidoso | $2,724 | $227 |
| Ruidoso Downs | $2,716 | $226 |
| Sacramento | $2,552 | $213 |
| Salem | $2,035 | $170 |
| San Acacia | $2,560 | $213 |
| San Antonio | $2,235 | $186 |
| San Cristobal | $2,212 | $184 |
| San Felipe Pueblo | $2,288 | $191 |
| San Fidel | $2,246 | $187 |
| San Ildefonso Pueblo | $2,250 | $187 |
| San Jon | $7,001 | $583 |
| San Jose | $2,821 | $235 |
| San Miguel | $2,193 | $183 |
| San Patricio | $2,728 | $227 |
| San Rafael | $11,603 | $967 |
| San Ysidro | $2,140 | $178 |
| Sandia Heights | $2,204 | $184 |
| Sandia Knolls | $2,299 | $192 |
| Sandia Park | $2,328 | $194 |
| Sanostee | $2,051 | $171 |
| Santa Clara | $2,125 | $177 |
| Santa Clara Pueblo | $2,412 | $201 |
| Santa Cruz | $2,384 | $199 |
| Santa Fe | $1,967 | $164 |
| Santa Rosa | $5,267 | $439 |
| Santa Teresa | $2,245 | $187 |
| Santo Domingo Pueblo | $2,489 | $207 |
| Sapello | $3,959 | $330 |
| Sausal | $2,648 | $221 |
| Sedan | $9,515 | $793 |
| Sedillo | $2,386 | $199 |
| Serafina | $2,989 | $249 |
| Sheep Springs | $2,422 | $202 |
| Shiprock | $2,036 | $170 |
| Silver City | $2,172 | $181 |
| Skyline-Ganipa | $2,428 | $202 |
| Smith Lake | $11,449 | $954 |
| Socorro | $2,388 | $199 |
| Solano | $7,110 | $593 |
| South Valley | $2,360 | $197 |
| Spencerville | $2,120 | $177 |
| Springer | $7,971 | $664 |
| St. Vrain | $7,045 | $587 |
| Stanley | $2,088 | $174 |
| Sunland Park | $1,890 | $157 |
| Sunspot | $11,342 | $945 |
| Taiban | $6,839 | $570 |
| Taos | $2,166 | $181 |
| Taos Pueblo | $2,204 | $184 |
| Taos Ski Valley | $2,262 | $189 |
| Tatum | $7,329 | $611 |
| Tererro | $3,192 | $266 |
| Tesuque | $11,270 | $939 |
| Texico | $7,041 | $587 |
| Thoreau | $2,085 | $174 |
| Tierra Amarilla | $2,346 | $195 |
| Tijeras | $2,383 | $199 |
| Timberon | $2,498 | $208 |
| Tinnie | $3,028 | $252 |
| Tohatchi | $2,399 | $200 |
| Tome | $2,612 | $218 |
| Torreon | $2,341 | $195 |
| Trampas | $2,406 | $200 |
| Trementina | $4,356 | $363 |
| Tres Piedras | $2,406 | $200 |
| Truchas | $2,406 | $200 |
| Truth or Consequences | $2,279 | $190 |
| Tucumcari | $5,857 | $488 |
| Tularosa | $2,389 | $199 |
| Twin Lakes | $11,248 | $937 |
| University Park | $2,049 | $171 |
| Upper Fruitland | $2,055 | $171 |
| Ute Park | $11,326 | $944 |
| Vadito | $2,077 | $173 |
| Vado | $2,241 | $187 |
| Valdez | $2,070 | $173 |
| Valencia | $2,616 | $218 |
| Vallecitos | $2,495 | $208 |
| Valmora | $3,831 | $319 |
| Vanderwagen | $2,346 | $196 |
| Veguita | $2,664 | $222 |
| Velarde | $2,155 | $180 |
| Wagon Mound | $4,041 | $337 |
| Waterflow | $2,058 | $172 |
| Watrous | $3,831 | $319 |
| Weed | $2,557 | $213 |
| West Hammond | $2,215 | $185 |
| White Rock | $2,236 | $186 |
| White Sands | $2,096 | $175 |
| White Sands Missile Range | $2,140 | $178 |
| Whites City | $4,819 | $402 |
| Willard | $2,754 | $230 |
| Williamsburg | $2,097 | $175 |
| Winston | $2,269 | $189 |
| Yah-ta-hey | $11,243 | $937 |
| Yeso | $5,872 | $489 |
| Youngsville | $2,515 | $210 |
| Zia Pueblo | $2,192 | $183 |
| Zuni Pueblo | $2,330 | $194 |
Frequently asked questions
State Farm has the cheapest homeowners insurance in New Mexico, according to our research. Its rates average $182 a month, or $2,183 a year.
Allstate has the second-cheapest average rate of $210 a month, or $2,519 a year.
One of the best ways to get cheaper home insurance is to shop around and compare quotes from several different companies before you buy or renew a policy.
Another way to lower your home insurance costs is to raise your deductible. This will cause your premium to go down. Just make sure you can afford to pay your deductible amount if you ever need to file a claim.
Methodology
The rates shown in this article are based on non-binding quotes collected from Quadrant Information Services. Your rates may vary. Average rates were compiled from rates in New Mexico. The following coverages and deductible were used unless otherwise noted:
- $400,000 dwelling coverage
- $40,000 other structures
- $200,000 personal property
- $80,000 loss of use coverage
- $100,000 liability
- $5,000 medical payments
- $1,000 deductible
—
Our team of insurance experts rated insurance companies based on several categories. These categories include average rates, discounts, coverage options, third-party customer service ratings and app/website experience. We weighted these categories based on what customers value in an insurance company.
For third-party customer service ratings, we included complaint index scores from the National Association of Insurance Commissioners (NAIC) and financial strength ratings from AM Best. NAIC complaint index scores are used to determine how satisfied customers are with their claims, while financial strength ratings from AM Best reflect the ability to pay out claims. Customer satisfaction scores are from J.D. Power’s 2024 U.S. Home Insurance Study.