NEW MEXICO HOMEOWNERS INSURANCE COVERAGE

You might not live exactly like your parents. Why should you insure your home in the exact same manner? Whether your home is a Southwest contemporary in Albuquerque or a traditional ranch outside Santa Fe, with a Farmers FlexSM Personal Home policy, you can choose quality coverage for your lifestyle today, with new ways to help you save.

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What does homeowners insurance typically cover in New Mexico?

A standard homeowners insurance policy typically includes three major types of coverage: dwelling coverage, which helps pay to repair or rebuild your home if it’s damaged or destroyed by a covered, sudden, accidental event; personal property coverage, which helps pay to repair or replace your belongings; and liability coverage, which helps in case you’re financially responsible for injury to others or damage to their property for incidents covered by the policy.

Home insurance coverage options in New Mexico

The new Farmers FlexSM Personal Home policy in New Mexico gives you three highly customizable packages as a starting point:

  • Standard - Basic coverage for an affordable price
  • Enhanced - Provides higher coverage limits and additional optional features
  • Premier - Coverage with higher limits and the broadest choice of optional features

Read more about other types of Home insurance coverage.

Optional coverages

Within each Farmers Flex customizable package, you have the flexibility to adjust coverage types, select coverage options and choose policy limits.

Guaranteed Replacement Cost
Don’t worry about escalating construction costs — for covered losses, with Guaranteed Replacement Cost, we’ll guarantee coverage for the full cost to rebuild your home, even if it exceeds your policy limits.

FORTIFIED RoofTM Upgrade
This coverage pays to rebuild your damaged roof to enhanced standards to help resist severe storms.

Water Backup and Sump Overflow
This coverage can help pay to fix water damage caused by water backing up through drains and sumps.

Cyber and Identity Shield
Coverage for many forms of identity theft and cyberattacks, and monitoring services to help you prevent them from happening.

Emergency Mortgage Assistance
This option can provide three months of mortgage payments, up to $10,000, while your home is uninhabitable when you rebuild after a covered loss.

Home Businesses
If your house is more than just your home, get coverage for your home business, too.

Home Sharing
Coverage for renting part or all of your home through a home-sharing business.

Flex Features

When you purchase a policy with Farmers, you’re not just getting insurance backed by almost a century of experience. You can also get other benefits and savings, such as:

  • Declining Deductible
    Earn $50 toward your applicable deductible each year your home policy remains in force.

  • Multi-Policy Discount
    Save by purchasing Home, Auto and select other policies with Farmers.

  • Claim Forgiveness
    When you’ve been claim-free with Farmers for five years, we won’t increase your premium for a single claim.

New Mexico home insurance discounts

Farmers Flex Personal Home also offers a variety of savings opportunities for eligible home insurance customers in New Mexico. For example:

Welcome Discount

Home Buyer Discount

Multi-Policy Discount

Theft Protection Discount

Loyalty Discount

Claim Free Discount

Fire Protection Discount

Water Protection Discount

Welcome Discount

Home Buyer Discount

Multi-Policy Discount

Theft Protection Discount

Loyalty Discount

Claim Free Discount

Fire Protection Discount

Water Protection Discount

You might qualify for additional discounts on your home insurance. Ask your Farmers agent about discounts available in New Mexico.

This information provides only a general description of coverages and potential discounts. Not all products, coverages and discounts are available in every state, and they can vary by state. Eligibility requirements can vary by state. Coverages and discounts are subject to the terms, limits, provisions, exclusions, restrictions and conditions in the policy, including applicable endorsements. Contact Farmers for details and additional information.

Is homeowners insurance required in New Mexico?

New Mexico state law does not require homeowners insurance. If you have a mortgage, however, the lender is likely to require it to protect its investment. And homeowners with home insurance in New Mexico can benefit from knowing that they will have coverage for damage from severe storms, which can bring heavy rain, lightning, hail, strong winds and even snow in some parts of the state. Homeowners insurance can also help you protect your assets in case you’re sued.

What is generally not covered by homeowners insurance in New Mexico?

Flash floods after thunderstorms or during monsoon rains are a common desert-state hazard, but flooding is typically not covered by standard homeowners insurance in New Mexico or any state. Separate flood insurance is available through the National Flood Insurance Program partnership with Farmers®. A Farmers agent can walk you through the options.

Special home features, including swimming pools and expensive items such as jewelry and art, typically require additional insurance. Ask your Farmers agent about these limitations and exclusions and how to add items that require higher coverage limits separately to your policy.

Other things that might affect the cost of your homeowners insurance policy include:

  • Your property location
  • Your home’s condition and age, including the age of the roof
  • Construction and material costs in your area


View more coverage options in New Mexico

Auto insurance

Find out minimum state requirements for auto insurance in New Mexico, available discounts and more.

View car insurance details and discounts for New Mexico


Learn From Experience

Read more about home maintenance, home safety and insurance questions to help you plan and prepare to protect what matters most.

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What Does an Umbrella Insurance Policy Cover?

Think of umbrella insurance as an extra layer of liability coverage on top of your existing home and auto insurance — a personal umbrella over you and your assets. It’s additional coverage over your existing insurance limits, and it can be an affordable way to help you protect your home, cars, boats and other possessions if you’re sued.

When Would a Homeowner Want to Consider Vacant Home Insurance?

If you move out of a home before it’s sold, inherit a property or are a landlord between tenants, you may have a vacant property.