The best home insurance companies in New Mexico are State Farm and Foremost. State Farm ranks first for affordability and customer service, while Foremost excels in coverage options. Compare all our top picks below.
Best Homeowners Insurance in New Mexico
Updated: June 19, 2025
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Key Takeaways
According to our 2025 research, the top two home insurance providers in New Mexico are State Farm and Foremost.
For most homeowners, State Farm is the top overall pick for home insurance and is the best option for specific needs like owning an older home.
To choose the best option, determine your coverage needs, research costs and company details, and compare multiple quotes.
Who Are the Best Home Insurance Companies in New Mexico?
| State Farm | 93 | 1 | 1 | 2 |
| Foremost Insurance | 40 | 2 | 2 | 1 |
*Our ratings consider various combinations of coverage levels, home features and homeowner details to identify the best overall options. Rankings may differ based on your specific profile. The tables below use the same methodology.
Best Homeowners Insurance Companies by Category
Though our rankings reflect the best overall providers, what's best for you may differ based on your home type or personal needs. Below, we highlight the top insurers across major categories.
| State Farm | 93 | Overall |
| State Farm | 93 | Older Homes |
| State Farm | 93 | Newer Homes |
| State Farm | 93 | High-Fire-Risk Areas |
| State Farm | 93 | Bad Credit |
| State Farm | 93 | With Claims History |
Best New Mexico Home Insurance Reviews
Explore our top home insurance picks in New Mexico, showcasing leaders in affordability, customer service and robust coverage options, all backed by the MoneyGeek score.
State Farm: Best for Affordability
State Farm is the most affordable home insurance provider for most New Mexico homeowners as well as being the top overall option. It also ranks above the national average in customer service, placing seventh in customer satisfaction, according to J.D. Power. Also, State Farm offers unique add-ons like underground utility coverage and extended replacement cost reimbursement to cover potential increases in repair costs.
Data filtered by:Results filtered by:
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Coverage Level:$250K Dwelling / $125K Personal Property / $200K Liability
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Deductible:1000
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Credit Tier:Good
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Claims History:Claim free for 5+ years
| Newer Homes in High-Fire-Risk Areas | $59 | $710 |
| Newer Homes | $59 | $710 |
| Older Homes | $125 | $1,501 |
| Older Homes in High-Fire-Risk Areas | $125 | $1,501 |
How to Find the Best Home Insurance in New Mexico
Finding the best insurance for your needs can be challenging, so we’ve created a guide to help you choose the right option.
- 1
Determine your coverage needs
Before choosing a home insurance policy, decide on the coverage level you need. Consider the value of your home, the personal belongings you have and local risk factors like wildfires or flooding that might influence your coverage.
- 2
Research costs and discounts
Investigate how much home insurance costs in New Mexico. Look for discounts applicable to your situation, such as bundling policies or installing home safety devices, to reduce your premium.
- 3
Find the best providers for you
Use your findings to look for the best and cheapest home insurance in New Mexico. Evaluate insurers based on reviews of their customer service, the prices they offer and any additional coverages.
- 4
Compare multiple providers through all means
To find a policy that fits your needs, gather quotes from online platforms, agents and phone consultations. Make sure the coverage levels are identical across quotes for an accurate comparison, as estimates can vary depending on the source.
Best Homeowners Insurance in New Mexico: Bottom Line
State Farm and Foremost are the best homeowners insurance companies in New Mexico, according to current analysis. While these are strong recommendations, researching and comparing providers will help you find the best fit for your needs.
Best Home Insurance in New Mexico: FAQ
We've answered key questions to assist you in selecting a home insurance provider in New Mexico.
Which company is best for home insurance in New Mexico?
State Farm is the best homeowners insurance provider in New Mexico due to its attractive balance of affordability, excellent customer service and diverse coverage add-ons. Foremost Insurance is also a good option in the state.
Who has the most affordable homeowners insurance in New Mexico?
The most affordable homeowners insurance in New Mexico varies by individual circumstances. The average cost in New Mexico is $1,171 annually.
How do you get the best homeowners insurance in New Mexico?
To find the best home insurance in New Mexico, evaluate your coverage needs, explore costs and companies and compare quotes.
How We Decided the Best Home Insurance in New Mexico: Our Methodology
We rated the best homeowners insurance providers in New Mexico using this methodology:
- Affordability (55%): Providers scored higher if they were more affordable across various factors. We also evaluated the range of discounts offered.
- Customer satisfaction (30%): Scores were based on ratings from sites like Trustpilot, app reviews and industry sources like J.D. Power. This included the buying process, policy management and claims handling.
- Coverage (15%): We assessed the number of add-on options, unique features and availability by state.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.