New Mexico Landlord Insurance


New Mexico landlord insurance provides the best protection against catastrophe you can get. By providing coverage against wind, fire, water and liability to name a few most insurance companies in NM can offer a great policy at a low price. We work with these insurance carriers to allow landlords to compare rates from the best. By having landlord insurance you know that your rental property business will stay healthy even in the worst weather storms.

Landlord Insurance Quotes in NM

The fastest and easiest way to get the best landlord protection at the cheapest cost is to shop around for rates. We work with leading insurance companies in your city to provide a simple yet secure way to compare multiple insurance quotes online. Spend the next 5 minutes completing our secure application and get New Mexico landlord insurance quotes from the most trusted carriers.

Perils Covered by Landlord Insurance

New Mexico weather can cause massive damage to your home but there are other perils which lead to costly repairs. A peril is simply a cause of damage which could include:

  • Vandalism
  • Water pipe bursting
  • Theft
  • Smoke
  • Hail
  • Wind
  • Landlord liability
  • Loss of rents

Cost of Landlord Insurance in New Mexico

The cost to insure your rental property in NM is dependent upon numerous rating factors that home insurance companies use to determine the proper premium. When you own a condo or townhouse the cost of landlord insurance is very minimal because usually you split that cost with the homeowners association which insurers the exterior of your unit. If you insure a single family home or rental complex then your insurance costs are going to be much higher due to the replacement cost of the building is solely your responsibility.

Here are a few of the most common rating factors that insurance companies use to determine your landlord insurance premium:

  • Credit rating - This is your personal credit rating which is similar to a FICO score but can be based on other specific criteria such as payment history and bankruptcy.
  • Deductible - The higher the deductible the lower the cost of insurance. Don't get a deductible you can't afford if you need to file a claim. The most common deductible is $1000 for all perils.
  • Building type - This can be numerous things including condo, single family, and townhouse including the materials used to construct the property.
  • Claim history - If you have one or more claims in the past 3 years as a homeowner most insurance companies will surcharge your premium. Some companies may not even accept your business if you have more than two.
  • Discounts - If you have more business with an insurance carrier they are more likely to offer discounts to keep all of your business with them.

New Mexico's 5 largest cities by population

City - Population

Albuquerque 545,852

Las Cruces 97,618

Rio Rancho 87,521

Santa Fe 67,947

Roswell 48,366

*Data from 2010 Census Population by the Department of Economic and Community Development.

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