Best home insurance company in New Mexico: State Farm
The best home insurance company in New Mexico for 2026 is State Farm. Farmers is the other best home insurance company in New Mexico based on price, NAIC complaints, and AM Best financial ratings.
The total Insurance.com score is calculated out of five using these factors.
Cheapest home insurance company in New Mexico: State Farm
Below are New Mexico home insurance rates by company for six different levels of dwelling coverage, each with $300,000 in liability and a $1,000 deductible.
Based on our analysis, State Farm offers the cheapest home insurance for all five dwelling coverage limits. The average insurance rate for $300,000 in dwelling coverage is $2,042 per year.
| Company | $200,000 | $300,000 | $400,000 | $600,000 | $1,000,000 |
|---|---|---|---|---|---|
| Farmers | $2,216 | $3,357 | $4,574 | $6,982 | $10,655 |
| State Farm | $1,613 | $2,042 | $2,426 | $3,098 | $3,891 |
| Travelers | $5,436 | $6,464 | $7,460 | $10,244 | $14,747 |
Average home insurance cost in New Mexico
The average cost of homeowners insurance in New Mexico is $3.497 a year or $291 a month. This is based on coverage of:
- $300,000 dwelling
- $300,000 liability
- $1,000 deductible.
However, the average annual premium varies by the insurance company, your ZIP code, coverage type, your home's age, among other factors. It’s a good idea to compare price quotes from different New Mexico homeowners insurance companies to get the best deal.
New Mexico home insurance rates by ZIP code
Home insurance rates can vary widely depending on where the home is located. We compared home insurance rates by ZIP code in New Mexico to see which areas are the most and least expensive.
Enter your ZIP code and desired coverage level in the search box to see the average home insurance rate for that area. You will also see the highest and lowest premiums from major home insurers. This will give you an idea of how much you can save by comparing home insurance rates. The difference between the highest rate and the lowest rate is how much you could save by shopping around.
Home insurance calculator by ZIP code
Average home insurance rates in TexasMost & least expensive ZIP codes for homeowners insurance in Texas
| ZIP code | City | Highest rate |
|---|---|---|
| 77550 | Galveston | $10,407 |
| 77554 | Galveston | $9,754 |
| 77551 | Galveston | $9,634 |
| 77590 | Texas City | $9,005 |
| ZIP code | City | Lowest rate |
|---|---|---|
| 79915 | El Paso | $1,158 |
| 79905 | El Paso | $1,169 |
| 79907 | El Paso | $1,179 |
| 79916 | Fort Bliss | $1,180 |
The New Mexico Office of the Superintendent of Insurance says...
Some companies offer discounts when you "bundle" automobile and homeowner's insurance with them. The company may cover the house, auto, boat, etc., all under one policy. However, there may be situations where you can save money by spreading your coverage among several companies. It is your choice. Please shop carefully for all of your insurance needs.
- The New Mexico Office of the Superintendent of InsuranceThe most expensive ZIP codes in New Mexico for home insurance
New Mexico homeowners insurance rates are the most expensive for ZIP code 87562 with an average annual cost of $7,801.
The most expensive ZIP codes in New Mexico are:
| City | ZIP code | Average Annual Premium |
|---|---|---|
| Rowe | 87562 | $7,801 |
| Ilfeld | 87538 | $7,801 |
| Sedan | 88436 | $7,488 |
| Amistad | 88410 | $7,482 |
| Broadview | 88112 | $7,337 |
| Causey | 88113 | $7,064 |
| Mosquero | 87733 | $7,039 |
| Folsom | 88419 | $6,961 |
| Tucumcari | 88401 | $6,923 |
| Taiban | 88134 | $6,908 |
The least expensive ZIP codes in New Mexico for home insurance
The cheapest ZIP codes for home insurance in New Mexico are:
| City | ZIP code | Average Annual Premium |
|---|---|---|
| Chaparral | 88081 | $1,884 |
| Berino | 88024 | $1,927 |
| Fort Stanton | 88323 | $1,927 |
| Hondo | 88336 | $1,927 |
| Lincoln | 88338 | $1,927 |
| Sunspot | 88349 | $1,927 |
| White Sands | 88002 | $1,927 |
| Las Cruces | 88001 | $2,008 |
| Las Cruces | 88005 | $2,009 |
| Las Cruces | 88007 | $2,012 |
Compare homeowners insurance rates by city in New Mexico
Home insurance rates vary significantly by city due to different risks. Compare average rates in New Mexico cities below.
City Annual insurance premium
Methodology
Insurance.com worked with Quadrant Information Services to field homeowners insurance rates in all 50 states and Washington, D.C. We analyzed 37,973,840 insurance quotes from 134 insurance companies across 34,595 ZIP codes to determine the average premiums.
The insurance rates are based on a sample profile of a homeowner with good credit and the following coverage level:
- $300,000 dwelling coverage
- $300,000 liability protection
- $1,000 deductible
- 2% hurricane deductible where appropriate.
To rank insurance companies, we used three important factors: average annual cost, NAIC complaint ratio and AM Best financial stability rating. Find the full best insurance companies rating methodology here. The quoted insurance rates are for comparison purposes, and your rates will vary.
Compare New Mexico homeowners insurance rates with other states
