Farmington Insurance Rates:

Farmington, NM home insurance is approximately $587 to $796, about $48-$66/month. Our complete guide reveals consumers can save as much as $276 by getting many quotes

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Farmington, New Mexico Homeowners share the good, bad & ugly reviews of thier insurance providers so that you can compare quotes from the best

Farmington Home Owner Insurance Quotes | Write a Review | Rates & Quotes Analysis
Liberty Mutual
Home Insurance Rate of $900/12 months for $200000-$250000 Coverage
Policy Holder Home Details :

Home Value : $225,000

3 Beds, 3 Baths 1940 sqft Seasonal Residence Constructed In 1997 with Carpet over wood flooring, Slate Shingles Roof, Chainwall Foundation, Stucco siding, Metal Frame Construction. Home Features Include Deadbolt Locks, Circuit Breaker Electricals and Security by HomeOnly

About Policy Holder:

57 Years old Single Male who has a Part Time Job with household income of $25-50,000 and has 1 Pet and is a Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • 750-799 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $360/6 months for $125000-$150000 Coverage
Policy Holder Home Details :

Home Value : $150,000

3 Beds, 3 Baths 1480 sqft Rental Property Constructed In 1968 with Carpet Flooring, Shingles Roof, Crawl Space Foundation, Stone Siding, Brick Frame. Home Features Include Central Air Conditioning, Deadbolt Locks, Indoor Sprinklers, Swimming Pool, Circuit Breaker Electricals and Security by HomeOnly

About Policy Holder:

29 Years old Single Female who has a Full Time Job with household income of $75-$100,000 and has More than 3 Pets at home and is a Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 500-549 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $740/10 months for $150000-$175000 Coverage
Policy Holder Home Details :

Home Value : $180,000

3 Beds, 3 Bath 2220 sqft Rental Property Constructed In 1961 with Hardwood Flooring, Tile Roof, Crawl Space Foundation, Vinyl siding, Stucco Construction. Home Features Include Fire Extinguisher, Copper Water Pipes, Swimming Pool, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

53 Years old Divorced Male who is Unemployed with household income of less than $25,000 and has No Pets and is a Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • 650-699 Credit Score

  • Seniors staying at home

Home Insurance Rate of $80/2 months for $200000-$250000 Coverage
Policy Holder Home Details :

Home Value : $250,000

3 Beds, 3 Bath 2270 sqft Seasonal Residence Constructed In 1963 with Wood Flooring, Shingles Roof, Piers Foundation, Wood siding, Metal Frame Construction. Home Features Include Copper Water Pipes, Circuit Breaker Electricals and Security by Monitoring Company

About Policy Holder:

47 Years old Single Female who is a Freelancer with household income of $75-$100,000 and has No Pets and is a Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 650-699 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $240/5 months for $125000-$150000 Coverage
Policy Holder Home Details :

Home Value : $130,000

3 Beds, 3 Baths 1600 sqft Primary Residence Constructed In 1998 with Linoleum, Tile Roof, Crawl Space Foundation, Fiber-Cement Siding, Wood Frame. Home Features Include Copper Water Pipes, Central Air Conditioning, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

55 Years old Single Male who is a Freelancer with household income of $75-$100,000 and has No Pets and is a Non-Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • Up to 499 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $910/9 months for $300000-$350000 Coverage
Policy Holder Home Details :

Home Value : $260,000

4 Beds, 4 Baths 2980 sqft Rental Property Constructed In 2013 with Carpet over wood flooring, Shingles Roof, Slab Foundation, Wood siding, Metal Frame Construction. Home Features Include Central Air Conditioning, Swimming Pool, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

41 Years old Married Female who has a Part Time Job with household income of less than $25,000 and has 3 Pets and is a Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 700-749 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $550/6 months for $350000-$400000 Coverage
Policy Holder Home Details :

Home Value : $440,000

5 Beds, 5 Baths 4070 sqft Seasonal Residence Constructed In 1987 with Ceramic Tile Flooring, Metal Roof, Chainwall Foundation, Stucco siding, Stucco Construction. Home Features Include Deadbolt Locks, Swimming Pool, Circuit Breaker Electricals and Security by Monitoring Company

About Policy Holder:

24 Years old Married Female who has a Part Time Job with household income of less than $25,000 and has 3 Pets and is a Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 700-749 Credit Score

  • Guests at home

Home Insurance Rate of $220/5 months for $150000-$175000 Coverage
Policy Holder Home Details :

Home Value : $195,000

4 Beds, 4 Bath 2170 sqft Rental Property Constructed In 2002 with Stone Flooring, Slate Shingles Roof, Crawl Space Foundation, Brick siding, Stucco Construction. Home Features Include Fire Extinguisher, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

58 Years old Married Female who has a Full Time Job with household income of $50-$75,000 and has 2 Pets and is a Non-Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • 750-799 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $170/2 months for $250000-$300000 Coverage
Policy Holder Home Details :

Home Value : $235,000

4 Beds, 4 Bath 2830 sqft Vacation Property Constructed In 1994 with Carpet Flooring, Membrane Roof, Piers Foundation, Stucco siding, Metal Frame Construction. Home Features Include Smoke Alarm, Central Air Conditioning, Indoor Sprinklers, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

28 Years old Divorced Female who has a Full Time Job with household income of more than $150,000 and has 2 Pets and is a Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 600-649 Credit Score

Farmington, NM Home Insurance by Zip Code

Zip Code Median Home Value Median Homeowners Insurance
87402 $233,500 $730
87401 $160,100 $690

Farmington Rates & Quotes Analysis:

Farmington Area Estimated House Insurance
Echo Ln, E Amsden Dr, N Carlton Pl, Rd 1740, Rd 6257, Rd 3103, Rd 6261, Sycamore St, N Mesa Verde Ave, Dodd St$703
Rd 6191, Rd 6323, Rd 3779, 24th St, Casa Bonita Dr, Rd 6674, Co Rd 6339, Rd 6479, Masonic Dr, Rd 6487$679
E 30th St, Rd 6557, Brenna Pl, Rd 3182, W Piedras St, W Boyd Dr, Boyd Dr, Dodd St, Rd 3025, Rd 6219$674
Ocio St, Calla Lilly Ln, Rd 6339, Morningstar Dr, Emerald St, Browning Rd, N Gibson Ave, Piedra Vista Dr, S Drake St, Rd 6668$686
Rd 1006, Rd 3322, 1633 Rd, N Behrend Ave, Summit Dr, Country Club Dr, S Randolph Ave, Brentwood Cir, Gulledge Rd, Co Rd 3188$676
Abby Rd, Tierra Ct, 35th St, Rd 1636, Westwood Ave, Burnham Rd, N Hood Mesa Trl, 6th St, Figueroh Ave, Rd 6071$725
Rd 3778, Drinen Ln, la Plata Hwy, W Glade Rd, Rd 6695, 31st St, Buena Vista Ave, Rd 6401, N Orchard Ave, Rd 6825$700
Co Rd 3937, Malta Ave, Rd 6050, Rancho de Animas Dr, Kirtland, Mediterranean Pl, 33190 Rd, Oriole Ave, E Navajo St, Brookside Cir$690
Rd 6653, Rd 6477, Glade Rd, Chilton Ct, Canyon View Cir, Rd 6115, Rd 3114, Rd 6887, Rd 6437, 2nd St$672
E 17th St, E Comanche St, Poquita St, N Cottonwood Ave, Camina Oro, Cooper St, Brown Ave, Santiago Ave, E Gladden Dr, Rd 3635$689

Insurance rates are influenced by a number of factors including:

  • Year Built: 3,547 Homes (16% of total) built between 1950 to 1959 in Farmington are paying home insurance between $1,299-$1,309 in contrast with Flora Vista (+$24), Durango Southwest(CO) (+$417), Ute Mountain(CO) (+$270), Kirtland (-$31) and Upper Fruitland (-$62).
  • Bedrooms: 10,537 3 bedrooms homes (50% of total homes ) in Farmington are paying about $519. Areas near to Farmington such as La Plata, Flora Vista, Cedar Hill are costlier by $11, $9, $15 respectively whereas Kirtland and Upper Fruitland are more economical by $12, $24 respectively for similar homes.
  • Auto Insurance Bundling: 5,804 Households (43% of all households) in Farmington have 2 vehicles available and when it is bundled with home insurance you can save $138 compared to Kirtland ($135), Upper Fruitland ($131), La Plata ($141).
  • Senior Discounts: 6,366 seniors (more than 55 years) occupied housing units (47% of total) in Farmington get discounts between $103 to $105 compared to Kirtland ($101), Upper Fruitland ($98), La Plata ($105).
  • New Homes discounts: New homes such as the 10,330 homes built between 2000 to 2009 in Farmington can save $138 and similar new home insurance discounts in nearby towns and cities like Kirtland, Upper Fruitland and La Plata are $135, $131 and $141 respectively.

Farmington Homeowners insurance Facts

  • Farmington, NM has 13,362 owner occupied houses which is 70.4% of all units whereas Kirtland, Upper Fruitland and La Plata have 81.44%, 91.45% and 64.04% respectively.
  • Farmington, NM homeowners yearly insurance price at $692 is 0.4% of the typical house value of $171,600 which is in contrast with 0.54% in Kirtland, 0.82% at Upper Fruitland & 0.33% in La Plata.
  • Homeowners in Farmington, NM pay 1.2% of their income ($45,000 to $49,999) in insurance whereas homeowners in Kirtland, Upper Fruitland and La Plata pay 1.17%, 1.15% and 1.23% respectively.
  • Farmington, NM’s insurance is 4.6% of monthly housing costs of $1,266/month, for owners with a mortgage compared to 5.78% in Kirtland, 6.14% at Upper Fruitland & 7.15% in La Plata. But, for households without a mortgage, insurance is 17.2% of costs ($336 in Farmington, NM) in contrast with 19.4% in Kirtland, 25.42% at Upper Fruitland & 14.97% in La Plata.

Farmington, NM Home Values & Insurance rates

For example, insurance for 175 Homes (1.0% of total homes ) valued between $90,000 to $99,999 in Farmington, NM is about $380. Rates in nearby areas in such as Archuleta County, San Juan County, Silverton are cheaper by $92, $43, $43 respectively while Kirtland and Upper Fruitland are costlier by $126 and $397 respectively for similar homes.

Farmington, NM Home By Value Total Homes % of Total Average Homeowners Insurance
Less than $50,000 1,753 13.0% $96
$50,000 to $59,999 271 2.0% $207
$60,000 to $69,999 157 1.0% $256
$70,000 to $79,999 474 3.0% $297
$80,000 to $89,999 424 3.0% $339
$90,000 to $99,999 175 1.0% $380
$100,000 to $124,999 802 6.0% $442
$125,000 to $149,999 906 7.0% $553
$150,000 to $174,999 1,999 15.0% $650
$175,000 to $199,999 1,038 8.0% $754
$200,000 to $249,999 2,185 17.0% $906
$250,000 to $299,999 1,151 9.0% $1107
$300,000 to $399,999 1,242 9.0% $1404

Renters Insurance in Farmington

  • Average Renters Insurance in Farmington :  $186($15/month)

  • Median Gross Rent in Farmington :  $772

  • Farmington Renters Insurance to Median Rent Ratio:  1.94%

  • Renter occupied housing units in Farmington :  5,617

Farmington Renters Insurance as a Percentage of Rent

Farmington Home By Monthly Rent Total Homes % of Total Estimated Monthly Income To Afford Rented House Including Renters Insurance
$200 to $299 130 2.0% $796
$300 to $499 433 8.0% $1246
$500 to $749 1,892 36.0% $1921
$750 to $999 1,170 22.0% $2671
$1,000 to $1,499 1,034 19.0% $3796
$1,500 or more 499 9.0% $5446

Rent Affordability in Farmington:

Approximately 41.0% (2,349) of households are spending more than 35% of their income on gross rent in Farmington

Occupied units paying gross rent Total Households % of Total
Less than 15.0 percent 854 15.0%
15.0 to 19.9 percent 836 14.0%
20.0 to 24.9 percent 660 11.0%
25.0 to 29.9 percent 512 9.0%
30.0 to 34.9 percent 406 7.0%
35.0 percent or more 2,349 41.0%

Farmington Renters Insurance Discounts:

Farmington Renters Insurance Discounts by Number of Vehicles in Renter Occupied Housing Units

Number of Vehicles in Farmington, NM Number of Housing Units % of Total Renters Insurance Insurance Savings by Bundling Auto Insurance
1 vehicle available 2,860 50.0% $18.6
2 vehicles available 1,514 26.0% $27.9
3 or more vehicles available 720 12.0% $37.2

Farmington Senior Citizen Discounts:

Age Senior Occupied Housing Units % of Total Discount offered
55 to 59 years 340 6.0% $77
60 to 64 years 350 6.0% $61
65 to 74 years 218 3.0% $50
75 years and over 285 5.0% $38

Protective device discount in Farmington Up to :  $27

Claims-free discount in Farmington Up to :  $37