Home Insurance in New Mexico

Home Insurance in New Mexico averaged $1,490 a year in 2023, 14% below the national average, per the NAIC, plus the rules that shape your policy.

What home insurance costs in New Mexico

Homeowners in New Mexico paid an average of $1,490 a year on a standard HO-3 policy in 2023, 14% below the national average of $1,737. HO-3 is the form most owner-occupied homes are written on; averaged across every owner-occupied and dwelling-fire form the figure is $1,540.

New Mexico rules worth knowing

• HO-8 (older homes, repair-cost basis): $4,106 a year
• Regulator: Office of Superintendent of Insurance (OSI)

Source: NAIC Homeowners Insurance Report, 2023 data. Figures are the most recent the NAIC has published; nothing on this page is estimated or modelled.