Albuquerque ,NM Home Insurance - The cost of homeowners insurance is influenced by a range of factors, including the value of your coverage, deductible, and the construction materials used in your home.
VHome Insurance conducted a thorough analysis of the Albuquerque, NM homeowners insurance market, taking into account factors like average costs, range of coverages, deductibles and customer satisfaction ratings to determine the best providers. The Average home insurance cost in Albuquerque, NM is $1757. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Albuquerque, NM. VHome Insurance will help you navigate the world of homeowners insurance coverages in Albuquerque, NM.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $703 |
| $200,000 | $1,195 |
| $300,000 | $1,476 |
| $400,000 | $2,249 |
| $500,000 | $2,829 |
Home insurance costs in Albuquerque can vary greatly based on location. The frequency of claims in your area can affect the cost of your policy. Simply put, the location of your home can significantly impact your homeowners insurance premium.
| Zipcode | Average Insurance Premium |
|---|---|
| 087122 | $1,944 |
| 87113 | $1,750 |
| 87111 | $1,733 |
| 87106 | $1,722 |
| 87104 | $1,709 |
| 87109 | $1,696 |
| 87107 | $1,694 |
| 87120 | $1,673 |
| 87110 | $1,662 |
| 87112 | $1,657 |
| 87123 | $1,650 |
| 87108 | $1,631 |
| 87102 | $1,597 |
| 87105 | $1,613 |
| 87121 | $1,612 |
One key aspect of your policy is the deductible, which is the amount you pay out of pocket before your insurance kicks in. Choosing the right deductible can have a major impact on your insurance premiums and overall savings. In this guide, we'll help you understand the options available for homeowners insurance deductibles in Albuquerque, NM, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $1,801 |
| $1000 Deductible | $1,611 |
| $1500 Deductible | $1,520 |
| $2500 Deductible | $1,370 |
| $5000 Deductible | $1,160 |
| Home Insurance Company Near Albuquerque, NM | Homeowners Insurance Agency Near Albuquerque, NM | Address |
|---|---|---|
| Allstate | Blue Star Insurance | 400 W Hwy 60, Mountainair, NM, 87036 |
| Farmers | Cathy Muse | 4201 Central Ave NW # B7a, Albuquerque, NM, 87105 |
| State Farm | Cynthia Bahling | 12700 San Rafael Ave NE Ste 2, Albuquerque, NM, 87122-1143 |
| Farmers | James Lucero | 2015 Wyoming Blvd NE Ste D, Albuquerque, NM, 87112 |
| Liberty Mutual Independent | Justice Insurance Specialists | 211 S MAIN ST, BELEN, NM, 87002 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| Bernalillo County, New Mexico | $87 | $116 | $174 |
| Los Ranchos de Albuquerque village, New Mexico | $97 | $129 | $193 |
| South Valley CDP, New Mexico | $85 | $113 | $170 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Albuquerque, NM | 4.3% | 15.3% |
| Bernalillo County | 4.24% | 15.39% |
| Los Ranchos de Albuquerque | 3.29% | 13.18% |
| South Valley | 4.94% | 18.28% |
| Albuquerque Home By Monthly Rent | Total Homes | % of Total | Estimated Monthly Income To Afford Rented House Including Renters Insurance |
|---|---|---|---|
| Less than $200 | 1,553 | 1.0% | $343 |
| $200 to $299 | 2,246 | 2.0% | $793 |
| $300 to $499 | 8,795 | 9.0% | $1243 |
| $500 to $749 | 31,974 | 34.0% | $1918 |
| $750 to $999 | 24,034 | 26.0% | $2668 |
| $1,000 to $1,499 | 18,810 | 20.0% | $3793 |
| $1,500 or more | 4,245 | 4.0% | $5443 |
| Streets in Albuquerque Area | Homeowners Insurance Cost |
|---|---|
| Bentley Ct, Cam Cerrito SE, Bret Pl NE, Mirasol Ave NW, la Veta Ct, Cosmos Dr SW, San Nicholas Ave NW, Tuna Pl NW, Atrisco Pl NW, Rafael Rd SW | $680 |
| Coal Ave SW, Ave Las Campanas NW, Cranbrook St NE, Thomas Ln NW, Malachite Dr SW, Sun Mountain Trl SW, Sherwood Dr NW, Larkspur Ln, la Condesa Ave NE, Vinton St SW | $679 |
| Live Oak Ln NE, la Ronda Pl NE, Illinois St NE, Tower Rd SW, Kentucky St NE, Rock Point Pl NE, Faye Pl NE, Cletsoway Dr SW, Agnes Ct NE, del Rey Rd SW | $703 |
| Scoria Dr NW, Placido Dr NE, Winchester Rd SW, Calla Lily Cir, Wellsburg Ave NW, Scarlet Pl NW, 60th St SW, Boliver Ln, Red Hawk Rd NE, Pso del Norte | $694 |
| Zena Lona St, Brookstone Dr NW, Michael Hughes Dr NE, 11th St NW, Paseo Vis NE, Pojoaque Dr NW, Torpedo Pl NW, Cottonwood Pl, Contreras Pl NW, Terrace SE | $712 |
| Tahoe Pl NE, Mead Rd SW, Um Rd NW, Hahn Ct NE, Cll de Vida NW, Roberta Pl NE, Pinon Ct NW, Westlake Dr NE, Galaxia Park Dr NW, Sarita Ave NW | $714 |
| del Campo Pl NE, S Dale Dr SW, Daniel Rd NW, Fox Hill Pl SW, Juan Tabo Blvd SE, Maddux Pl NW, Major Ave NW, Signal Ave NE, Montclaire Dr SE, Arapahoe Ave NW | $718 |
| 14th St NW, Cameron St NW, Tulane Pl NE, Pueblo Verde NE, Eagle Ridge Ln, Georgetown Ave NW, Brookline Dr NW, Cll del Bosque NW, Bonita Plz NE, Cienega Ct NW | $727 |
| Montego Pl NE, Glendale Pl NW, Summerlin Rd NW, Tramway Vista Dr NE, Canyon Hills Dr NE, Morrow Ave, Tres Vistas Rd NW, San Fidel Rd NW, Manzano Ct NW, Rio Canon Ct SW | $714 |
| Carreta Dr NW, Quarterhorse Ln NW, Cairo Dr NE, Englewood Dr SE, William St SE, Brad Pl NW, Globe Willow Ave NE, Chesapeake Rd NW, Desert Rd, Crescent Dr NW | $709 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Albuquerque | $104 to $106 |
| Bernalillo County | $104 |
| Los Ranchos de Albuquerque | $115 |
| South Valley | $102 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $900 | $2,900 |
| Yearly Albuquerque Homeowner Insurance Premium Example | $1,000 | $600 |
| Out of Pocket Expense During Claim | $900 | $2,900 |
| Total Home Insurance Premium for 8 years + Out of Pocket Expense for Claim | $8,900 | $7,700 |
| Net Savings to Albuquerque Home Owner from High Deductible Plan | $1,200 | |
| Scenario | Albuquerque, NM Home Replacement Value MORE than Home Value | Albuquerque, NM Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $166,500 | $97,000 |
| Insurance Premium based on Replacement Value | $900 | $525 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $36,000 | Risk Exposure from Under Insuring Coverage is $33,500 |
| Premium Impact | Insurance cheaper by $175/year | Insurance costlier by $200/year |
| Insurance Company | GEICO Insurance | Travelers | Amica Mutual Insurance Company |
| Monthly Premium | 56 | 43 | 86 |
| Year Built | 2007 | 1961 | 1971 |
| Home Details | 3 Beds, 1 Baths | 4 Beds, 1 Baths | 5 Beds, 3 Baths |
| Coverage Amount | $150000-$175000 | $150000-$175000 | $350000-$400000 |
| Deductible | $2500-$5000 Deductible | $2500-$5000 Deductible | > $10,000 Deductible |