Best home insurance companies in New Mexico: State Farm 

The best home insurance company in New Mexico for 2024 is State Farm. Farmers is the other best home insurance company in New Mexico based on price, NAIC complaints, and AM Best financial ratings.

The total Insurance.com score is calculated out of five using these factors.

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Best home insurance in New Mexico
CompanyAM BestNAIC complaint ratioInsurance.com scoreAverage annual rate
State FarmA++0.834.17$1,775
FarmersA0.672.83$3,083
Data updated in 2024

Cheapest home insurance companies in New Mexico: State Farm 

Below are New Mexico home insurance rates by company for six different levels of dwelling coverage, each with $300,000 in liability and a $1,000 deductible.

Based on our analysis, State Farm offers the cheapest home insurance for all five dwelling coverage limits. The home insurance rate for $300,000 dwelling coverage is $1,775 per year.

Cheapest home insurance in New Mexico
Company$200,000$300,000$400,000$600,000$1,000,000
State Farm$1,415$1,775$2,109$2,736$3,820
Farmers$2,036$3,083$4,179$6,340$10,598
Data updated in 2024

Average home insurance cost in New Mexico

The average cost of homeowners insurance in New Mexico is $2,647 a year or $221 a month. This is based on coverage of:

  • $300,000 dwelling
  • $300,000 liability
  • $1,000 deductible.

However, the average annual premium varies by the insurance company, your ZIP code, coverage type, your home's age, among other factors. It’s a good idea to compare price quotes from different New Mexico homeowners insurance companies to get the best deal.

New Mexico home insurance rates by ZIP code

Home insurance rates can vary widely depending on where the home is located. We compared home insurance rates by ZIP code in New Mexico to see which areas are the most and least expensive.

Enter your ZIP code and desired coverage level in the search box to see the average home insurance rate for that area. You will also see the highest and lowest premiums from major home insurers. This will give you an idea of how much you can save by comparing home insurance rates. The difference between the highest rate and the lowest rate is how much you could save by shopping around.

Home insurance calculator

Average home insurance rates in Texas
Please enter valid zip code
$200,000
$200,000 $300,000 $400,000 $600,000 $1,000,000
$100,000
$100,000 $300,000
Standard ($1000)
Standard ($1000) Hurricane (2% of insured value)

Most & least expensive ZIP codes for homeowners insurance in Texas

Most expensive

ZIP codeCityHighest rate
77550Galveston$10,164
77586El Lago$9,906
77551Galveston$9,536
77554Galveston$9,358

Least expensive

ZIP codeCityLowest rate
78559Iglesia Antigua$1,956
78593Santa Rosa$1,999
79915El Paso$2,008
79905El Paso$2,009
Data updated in 2024
Read our methodology

The New Mexico Office of the Superintendent of Insurance says...

Some companies offer discounts when you "bundle" automobile and homeowner's insurance with them. The company may cover the house, auto, boat, etc., all under one policy. However, there may be situations where you can save money by spreading your coverage among several companies. It is your choice. Please shop carefully for all of your insurance needs.

- The New Mexico Office of the Superintendent of Insurance

The most expensive ZIP codes in New Mexico for home insurance 

New Mexico homeowners insurance rates are the most expensive for ZIP code 88135 with an average annual cost of $5,552.

The most expensive ZIP codes in New Mexico are:

ZIP codeAverage annual rate
88135$5,552
88132$5,432
88130$5,373
88101$5,320
88242$5,233
88411$5,230
Data updated in 2024

The least expensive ZIP codes in New Mexico for home insurance

The cheapest ZIP codes for home insurance in New Mexico are:

ZIP codeAverage annual rate
88021$1,738
88008$1,775
88063$1,776
88002$1,781
88081$1,789
88024$1,827
Data updated in 2024

Compare New Mexico homeowners insurance rates with other states

Alabama
$3,066/year
Alaska
$1,799/year
Arizona
$1,966/year
Arkansas
$4,073/year
California
$1,380/year
Colorado
$3,388/year
Connecticut
$2,100/year
Delaware
$1,389/year
Florida
$4,218/year
Georgia
$2,163/year
Hawaii
$582/year
Idaho
$1,892/year
Illinois
$2,604/year
Indiana
$2,721/year
Iowa
$2,402/year
Kansas
$4,665/year
Kentucky
$3,163/year
Louisiana
$3,481/year
Maine
$1,407/year
Maryland
$1,630/year
Massachusetts
$1,518/year
Michigan
$2,607/year
Minnesota
$2,327/year
Mississippi
$3,398/year
Missouri
$3,349/year
Montana
$2,874/year
Nebraska
$4,624/year
Nevada
$1,457/year
New Hampshire
$1,144/year
New Jersey
$1,299/year
New York
$1,728/year
North Carolina
$2,768/year
North Dakota
$2,946/year
Ohio
$2,017/year
Oklahoma
$4,945/year
Oregon
$1,503/year
Pennsylvania
$1,760/year
Rhode Island
$1,774/year
South Carolina
$2,727/year
South Dakota
$3,529/year
Tennessee
$2,870/year
Texas
$4,142/year
Utah
$1,421/year
Vermont
$1,175/year
Virginia
$1,999/year
Washington
$1,659/year
West Virginia
$1,801/year
Wisconsin
$1,508/year
Wyoming
$1,801/year
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