Finding affordable homeowners insurance in New Mexico shouldn’t be too difficult — the state is at a lower risk for natural disasters than most, leading to lower costs on average. Weather isn’t the only factor that goes into premiums though. New Mexico’s Department of Public Safety records live yearly crime statistics as reported by each county and precinct across the state and the numbers show a clear issue: burglary and larceny. Just a couple years ago, New Mexico even topped the charts of the FBI’s most burglarized states.

All these factors make choosing the right homeowners insurance in New Mexico even more important. You need to make sure that your home and the valuables within are well protected, and you want to feel confident that should the worst happen, your provider will be standing ready. We started with the top insurers of property and casualty insurance by market share across the state, narrowed them down to the top 4 individual-consumer focused contenders, and then began evaluating them. Our methods were proven in our review of national homeowners insurance companies — providing a holistic look into financial stability, customer service, tools and resources, and coverage. However, every home and homeowner are unique in their own way and every zip code can contain its own quirks and inconsistencies. This means our findings may differ from yours. The only way to truly know your best option is to understand your unique risks, thoroughly vet your home’s needs, and contact a few insurers to get quotes and compare.

New Mexico Homeowners Insurance Reviews

Liberty Mutual

Outside exclusive service providers like USAA, Liberty Mutual brings some of the highest ratings in customer satisfaction and claims fulfilment in the industry. While excellent service is a constant feature across all of our top picks and recommendations, Liberty Mutual brings the full suite of educational materials, helpful endorsements, and available discounts. Their MasterThis blog hosts tons of handy tips, tricks, and guides. Comprehensive protections like Home Protector Plus add an extra layer of security that can make all the difference in times of trial, even going as far as to pay for a place to stay while your home is being repaired. And you can receive great discounts for a simple action like installing deadbolts. On top of their full-service, they have great financial stability ratings from A.M. Best, Standard & Poor's, and Moody's, so you know they can handle the cost of paying claims if a big natural disaster does hit your area.

As noted earlier, New Mexico finds itself a victim of high crime rates, including burglary and larceny as two of the top violations. When you are searching for a home insurance plan, you want to make sure that it will cover you for the possibility of the loss of personal property. While this is a common coverage found in most plans, Liberty Mutual offered us the highest coverage for personal property losses when we secured our online quotes. This tells us they are already thinking about the major issues and actively trying to cover your assets. On top of the extra coverage, Liberty Mutual is the only provider that offers a home inventory app called Home Gallery. This handy tool lets you catalog your items, save pictures of each room in the house, and quickly update any new items to your home. Seems like a simple thought, but so far Liberty Mutual alone leads innovation in this field. Liberty Mutual also steps up when it comes to protecting your intangible property by offering endorsements like Identity Fraud Expense Coverage. It’s these kind of well-rounded policy options as well as their fantastic customer service ratings that make Liberty Mutual our top pick for homeowners insurance in New Mexico.

However, there is a price to be paid for such service. Our online quote from Liberty Mutual was over $500 more, per year, than our cheapest quote. For those seeking the all-in-one, excellent service offered by Liberty Mutual, this is a worthy investment. Of course, we highly recommend shopping around for home insurance and evaluating your specific needs and budget before settling on a new insurer. That kind of extra expense should give plenty of motivation for you to check out our other insurers for comparable coverages to find out who has the best options for your budget and needs.


Farmers is an excellent choice for New Mexicans in need of homeowners insurance. Scoring only one point below our top pick from Consumer Reports’ Readers regarding overall claims’ satisfaction. Other than that, Farmers matches Liberty Mutual in financial strength, JD Power rankings, and customer service quality. Farmers also matches Liberty Mutual with quality educational materials, including an interactive house that lets you explore the typical threats each part of your home might face. Its catalog of frequent questions is vast and full of useful answers and its coverage options are easily navigable.

Discounts are deep with Farmers, and offer lots of options to save hundreds on your premiums. In our evaluation of quotes from the top providers, Farmers offered us the highest dwelling coverage at the lowest price — $732 per year in comparison to Liberty Mutual’s $1,284 price tag. Importantly, they offer a great price break if you use a monitored security system — a recommendation worth noting in order to secure you home, valuables, and leverage a lower price for quality homeowners insurance. Using any one of these professionally monitored security services would qualify you for a discount.


Travelers offers all the right coverages, like water back-up and valuables replacement, to keep any New Mexico home well protected for a fair price. However, they do fall behind on available discounts, not offering some standard deductions like loyalty savings or association discounts (think AAA members). This showed as their quote came in at a little over $100 more than our quote from Farmers. However, Travelers does offer a discount for monitored security systems just like the other top players.

Travelers offers the customer service reputation we expect from all of our top choices, tying Farmers for JD Power’s overall evaluation, as well as Consumer Report’s claims-experience scores. Unfortunately, Travelers doesn't quite boast the educational repertoire of Farmers, or an excellent app experience from Liberty Mutual. Its current app does not include any home insurance features and thus is a null point for homeowners unless they are bundling auto insurance with Travelers in order to save some money.


USAA is the absolute standard for quality service and customer care, not to mention the pinnacle of financial stability as reported by all of the top financial evaluators. If they were an available option for the general public they would take home top honors every time. Consistently ranking as the number one provider in nearly every aspect of the claims process, USAA is the complete package. The only reasons it's not our top pick is because you need to have prior or current experience within a branch of the U.S. military, or have an immediate family member who has the same experience, in order to even open an account. And if you want in-depth information on the available coverages, discounts, or special options available you’ll need to contact a representative personally to see if you’re even eligible to proceed. So if you have any family members that may be able to help you get your foot in the door, we highly recommend reaching out and giving it a shot.

Tips for Finding the Right Policy

Shopping around will always pay off.

We put together quotes from each of the three providers that everyone could access (minus USAA). The price difference was substantial, especially from our top pick Liberty Mutual. Each insurer estimates the coverages you’ll need based on the information you provide them during the quote process. All of these coverages are adjustable in the purchasing process, but for our purposes we kept the initial recommended coverages to assess where each company put their focus. You’ll see three coverage categories in our comparison table; each one signifies individual coverage amounts for seperate damage-types your home could encounter. When an insurer estimates a greater Personal Property coverage than Dwelling coverage, they are essentially saying they assume your home’s internal assets like furniture and fixtures are perhaps at a greater risk than the physical structure itself.

Provider* Dwelling Coverage Personal Property Coverages
Liberty Mutual $214,600 $160,950 $1,000 $1,284/year
Farmers $288,000 $115,200 $1,500 $732/year
Travelers $288,000 $99,500 $1,000 $844/year

*USAA requires current or past involvement with the military in order to even start the quote process. If you have access to their services, pursue a quote.

Right off the bat, we have to address Liberty Mutual’s significantly higher price. As we talked about in our earlier evaluation, Liberty Mutual boasts an impressive source of educational tools and information as well as a first class app. Such services may contribute to their higher premiums but we believe it has more to do with their understanding of New Mexico and the unique claims profile of the state. Crimes of theft — both petty and grand — are on the rise throughout the state. And while New Mexico lags behind in weather-related disasters, it still has its fair share of events. You’ll notice that Liberty Mutual was the only provider to decrease dwelling coverage and assume a far greater personal property coverage to keep us protected from the possible loss of our belongings in less-than-natural circumstances. We think this kind of extra intuition would make an increase in premium worth considering. Of course, detailed mapping of your home’s interior as well as the cataloging of your valuable possessions will allow a much more accurate estimation of your specific coverage needs, and likely save you a lot of hassle in the long run.

Recent trends can influence rates.

Each and every insurer we got quotes from asked us specifically if we installed “iron bars” on our windows — a likely reaction to New Mexico’s rise in burglary related crimes, some violent ones. And while low on natural disasters compared to the rest of the country, New Mexico is far from immune to weather-related damage. Allstate’s Common and Costly Claims tool marks fire damage as the most expensive claim in the state, and water damage as the most common. Fire coverage is standard across all quality policies, but you should evaluate your specific threat level and ask about extra protection if it’s a concern to you. When it comes to water, especially flooding, it doesn’t take much rain to create a real issue in a desert environment. Farmers offers a great write-up on how they assess flood threat levels as well as how National Flood Insurance Program regulates coverages and policies.