New Mexico Homeowner's Insurance
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We are here to help! By entering your information to the right, we give you up to five free quotes on New Mexico homeowner's insurance. You'll rest easier knowing you've compared quotes and selected the best New Mexico homeowner's insurance policy to protect your home.
Protect Your Home with New Mexico Homeowner's Insurance
What is included in New Mexico homeowner's insurance?
A typical New Mexico homeowner's insurance policy consists of four facets:
- Coverage of your dwelling and additional structures on your property.
- Coverage of your personal items and contents of your home.
- Reimbursement for additional living costs if your home becomes uninhabitable due to damage or loss.
- Personal liability to protect you from claims or lawsuits if someone is injured on your property.
Are there different forms of policies for New Mexico homeowner's insurance?
The two most common forms of New Mexico homeowner's insurance are known as Broad HO-2 and Special HO-3.
Broad HO-2 is a basic form of New Mexico homeowner's insurance which provides protection against 16 perils, some of which include fire, smoke, lightning, civil unrest, vandalism and weight of snow and ice.
Special HO-3 is the most common form of New Mexico homeowner's insurance. It protects your home against all perils except flood and earthquake.
It is important to note that there may be other forms of New Mexico homeowner's insurance more suitable for your needs. Be sure to discuss your needs with your agent to ensure that you purchase the right New Mexico homeowner's insurance policy for your home.
How do I protect my home from flood damage?
With flood waters causing an estimated $2 billion dollars annually, you will want to make sure your home is protected. Since flood damage is not typically covered by New Mexico homeowner's insurance, you will want to purchase flood coverage through the National Flood Insurance Plan (NFIP) by calling (800) 427-2354.
Remember, your flood insurance will go into effect 30 days after the date of purchase, so don't wait until flood waters are knocking on your door to secure your home.
Are discounts available for New Mexico homeowner's insurance?
New Mexico law requires a 10 percent discount be given when you install an electric burglar alarm in your home. New Mexico law also requires a five percent discount be given if you have iron bars on all doors and windows in your home.
Other money-saving tips for New Mexico homeowner's insurance include:
- Raising your deductible
- Insuring your home for its replacement value
- Reviewing your policy to avoid paying for items you no longer need insured
- Shopping around for the best policy - and the best price
In fact, shopping around is the best way to save on your New Mexico homeowner's insurance. By using InsureMe's free referral service, you receive up to five quotes for easy comparison.
Where can I find more information on New Mexico homeowner's insurance?
For more on New Mexico homeowner's insurance, you may contact the New Mexico Public Regulation Commission at (800) 947-4722, or visit them on the Web.
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