Average Homeowners Insurance in New Mexico: $700

Median Home Price in New Mexico: $197,000

New Mexico homeowners insurance rates in December 2013 stood at an average of $700 as compared to $700 in November 2013.

Insurance Premium Saving Tips in New Mexico

• Bundle your insurance:

  Bundling home and car insurance in New Mexico with the same provider will have approximately $70 to $105 of savings in New Mexico

• Safety Systems:

  Having safety systems at home can save up to $123 in New Mexico

• New Home:

  If your home was built within the past 10 years in New Mexico, you could save up to $140

• Senior Discounts:

  Senior citizens (55 or older) in New Mexico could save approximately $140

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Homeowners insurance cost by coverage

Insurance range	Average homeowners insurance cost($)
$49,999 and Under	533
$50,000 to $74,999	691
$75,000 to $99,999	719
$100,000 to $124,999	730
$125,000 to $149,999	748
$150,000 to $174,999	775
$175,000 to $199,999	821
$200,000 to $299,999	922
$300,000 to $399,999	1,132
$400,000 to $499,999	1,349
$500,000 and Over	1,893

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Renters insurance cost by coverage

Insurance range	Average renters insurance cost($)
$13,999 and Under	124
$14,000 to $19,999	170
$20,000 to $25,999	181
$26,000 to $31,999	189
$32,000 to $37,999	179
$38,000 to $43,999	201
$44,000 to $49,999	198
$50,000 to $74,999	223
$75,000 to $99,999	271
$100,000 and Over	372

Home Insurance Monthly Trends

The below graph compares New Mexicos home median prices against, renters and owners home insurance average rates in New Mexico.

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