In Rio Rancho, New Mexico, homeowners pay an average home insurance rate ranging between $593 to $803. Rio Rancho homeowners can use discounts offered by home insurance companies to reduce their home insurance rates. Below is a list of the discounts provided to Rio Rancho homeowners that they can take advantage of to save on home insurance.

Newly constructed Rio Rancho homes can avail of discounts of up to $266 on homeowners insurance. New homes have a low propensity to damage. As a result, home insurance companies offer substantial discounts to newly built homes. On the other hand, older homes attract higher insurance rates. Rio Rancho homes older than 40 and 50 years receive an additional charge of $24 and $44, respectively, on home insurance.

Home insurance companies consider the lifestyle of homeowners to determine insurance rates. If all the household residents are non-smokers, insurance companies offer special discounts on home insurance rates. Rio Rancho homeowners who own a swimming pool attract an additional insurance cost of up to $55. Installing a fence around the pool with self-latching and self-closing gates will help homeowners get discounts from home insurance companies. Additionally, senior citizens in Rio Rancho also receive discounts on home insurance.

Although most of the factors to avail discounts are not under the purview of homeowners, they can benefit most by choosing deductibles to reduce home insurance rates. Homeowners can avail of attractive discounts by opting for higher deductibles. Rio Rancho homeowners paying a high deductible of $2,500 can avail of a discount of $258 on homeowners insurance. Homeowners receive discounts of $216 and $145, respectively, on deductibles of $2,000 and $1,500. Rio Rancho homeowners save an average of $1,200 on a high deductible of $2,600 compared to a standard deductible of $600 for a lock-in period of 8 years.

Home insurance companies provide discounts to homeowners who have a claims-free history. In contrast, homeowners with prior claims can attract an additional charge on their home insurance premiums. The cost of home insurance in Rio Rancho increases by up to 44% based on the nature and number of claims. Rio Rancho homeowners who have a history of two fire claims and two water claims attract an additional charge of $385 and $302, respectively.