New Mexico FAIR Plan Insurance Alternative

Looking For Home Insurance In New Mexico?

Whether you have a home in New Mexico that you live in as your primary residence, secondary residence or you own rental properties, having a cost effective home insurance plan is a must. As a state with FAIR Plan insurance there is an insurance of last resort, but you could be stuck paying higher than normal homeowners insurance rates if you are unlucky enough to endure a catastrophic event to your home. Luckily, the property market in New Mexico has many options if you find the right agent. Want to see if you can save some money on your home insurance? Click the link above and start the process today.

Affordable Home Insurance for all New Mexico residents

Albuquerque is continually ranked as one best cities in the US to raise a family.  When it comes to events such as hurricanes, tornadoes and earthquakes, New Mexico is relatively disaster free with the exception of some flooding and brushfire zones. Don’t let all of the safety talk misguide you. Year after year, homeowners continue to overpay for their policies. With minimal risk of catastrophic events, homeowners rates may continue rise. Many Insurance companies love to write policies in New Mexico since a majority of claims are usually mild weather events, burglary, thefts, water damage, dog bites etc.

Compared to catastrophic events that are part of the norm in coastal and other areas, these personal property based claims are merely a bump in the road for insurance companies doing business in New Mexico.

Check Your Home Insurance Rates Often

The down side of the lower premium is that the risk tolerance for losses is inherently lower. This means that in the event of severe weather, brush fires, and flooding, insurance companies will, out of necessity, be more quick to increase rates, cancel or non-renew policies and scale back coverage if necessary to keep the insurance companies operating.

The consumer in New Mexico enjoys many benefits of lower catastrophe risk and therefore rates. By getting regular quotes for your homeowner insurance, you can be assured that you will always be paying a competitive rate and not overpaying.

As with all FAIR Plans, consumers are urged to try to find coverage in the private market and we can help you find an agent that can help you find alternatives to the FAIR Plan.