Home Home insurance Renters insurance Renters insurance cost Average renters insurance cost in New Mexico Average renters insurance cost in New Mexico Discover the average cost of renters insurance in New Mexico and how factors like location and coverage levels can impact your rate. View Carriers Please enter valid zip Compare top carriers in your area Written by Shivani Gite Shivani Gite Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions. | Updated on: January 16, 2025 Why you can trust Insure.com Quality Verified At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry. In New Mexico, renters insurance rates depend on factors like your insurer, chosen coverage limits and personal circumstances. On average, renters pay $201 annually or $17 monthly for a policy with $40,000 in personal property coverage, $300,000 in liability protection, and a $1,000 deductible. Key Takeaways The average cost of renters insurance in New Mexico is $201 per year or $17 per month.State Farm provides the least expensive renters insurance in New Mexico at an average rate of $147 annually.Renters insurance rates can vary significantly among insurance companies. Compare quotes to find the best deal on renters insurance in New Mexico. Average renters insurance cost in New Mexico per monthThe average cost of renters insurance in New Mexico is $17 per month. Your premium may vary depending on your location, the value of your belongings, and the coverage limits you select. It’s recommended that you compare multiple insurance quotes to find the best price.Average renters ins cost per monthDifference compared to national average$17$5 lessAverage renters insurance cost in New Mexico by companyState Farm offers the most affordable renters insurance in New Mexico at an average annual rate of $147, followed by Farmers and USAA, based on our data.However, you should get multiple quotes from various renters insurance companies in New Mexico because the prices vary greatly among carriers.Below, we have compared the average annual and monthly renters insurance rates of insurance companies across New Mexico.CompanyAverage annual rateAverage monthly rateState Farm$147$12Farmers$234$19USAA$185$15 Renters insurance calculator in New Mexico Select your state New Mexico Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Washington, D.C. Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Personal property coverage Covers your personal belongings, such as your furniture, electronics, clothing, artwork, etc. Choose the amount you believe would cover all of your belongings. $40,000 $20,000 $40,000 $60,000 Liability Covers the medical expenses of people who are hurt while in your home or on your property, as well as damage you caused to others’ property. Also covers legal fees if you are sued by someone hurt in your home or on your property. Limits of $300,000 or $500,000 are recommended. $300,000 $100,000 $300,000 Deductible Choose the amount you want to pay out-of-pocket before insurance kicks in. This applies to your dwelling and personal belongings claims. $1,000 $500 $1,000 Calculate $191/year Estimated renters insurance rates in New Mexico $16 Monthly renters insurance cost in New Mexico -23% Compared to national average Get quotes Average cost of renters insurance in New Mexico by coverage levelThe average annual cost of renters insurance in New Mexico is $201, with a personal property coverage limit of $40,000, $300,000 in liability coverage and a $1,000 deductible.However, if you lower your personal property coverage from $40,000 to $20,000, you can expect to pay $234 a year for renters insurance in New Mexico. Make sure $20,000 is enough to cover your belongings before deciding to adjust your coverage.The table below shows the average annual renters insurance costs in New Mexico for personal property coverage of $20,000 and $40,000.Coverage levelAverage annual renters insurance rateAverage monthly renters insurance rate$20,000 with $500 Deductible and $100,000 Liability$155$13$20,000 with $500 Deductible and $300,000 Liability$165$14$20,000 with $1,000 Deductible and $100,000 Liability$146$12$20,000 with $1,000 Deductible and $300,000 Liability$156$13$40,000 with $500 Deductible and $100,000 Liability$202$17$40,000 with $500 Deductible and $300,000 Liability$212$18$40,000 with $1,000 Deductible and $100,000 Liability$191$16$40,000 with $1,000 Deductible and $300,000 Liability$201$17$60,000 with $500 Deductible and $100,000 Liability$248$21$60,000 with $500 Deductible and $300,000 Liability$258$21$60,000 with $1,000 Deductible and $100,000 Liability$234$20$60,000 with $1,000 Deductible and $300,000 Liability$244$20Average cost of renters insurance in New Mexico by cityRenters insurance premiums can differ significantly depending on the city. To help you find the best policy for your needs, we’ve compiled a breakdown of average costs by city. Explore the typical renters insurance rates across various locations in New Mexico.Renters insurance rates vary from one city to another. But with Insure.com, finding the right renters insurance policy is easy. Learn more about renters insurance costs for different cities below. Renters insurance rates in New Mexico by cityAlbuquerqueLas CrucesRio RanchoRoswellSanta FeAverage cost of renters insurance in New Mexico by ZIP codeRenters insurance costs in New Mexico vary by ZIP code. Below, we’ll cover which ZIP codes have the most affordable coverage and which areas have the highest premiums.Most affordable ZIP codes for renters insurance in New MexicoIn New Mexico, your ZIP code plays a major role in determining your premiums. Based on our data, 87013 is the most affordable ZIP code for renters insurance, with an average annual cost of $189.Comparing quotes from multiple insurers in New Mexico is a smart way to find the best renters insurance rates for your ZIP code.ZIP codeCityAverage annual rateAverage monthly rate87013Cuba$189$1687045Prewitt$189$1687301Gallup$189$1687305Red Rock$189$1687310Brimhall$189$1687311Church Rock$189$1687312Continental Divide$189$1687313Crownpoint$189$1687316Fort Wingate$189$1687317Gamerco$189$16Least affordable ZIP codes for renters insurance in New MexicoAmong the ZIP codes analyzed by Insure.com, the least affordable ZIP code for renters insurance in New Mexico is 87116, with an average cost of $230 a year or $19 monthly.We analyzed quotes from multiple insurance providers across every ZIP code in New Mexico. Below, you’l find the average annual renters insurance premiums broken down by ZIP code.ZIP codeCityAverage annual rateAverage monthly rate87116Albuquerque$230$1987117Kirtland Air Force Base$227$1987115Albuquerque$227$19Renters and auto bundle discounts in New MexicoBundling your renters and auto insurance policies is one of the easiest ways to lower your New Mexico insurance rates.Bundling your policies can lead to an average annual savings of 4% in New Mexico. We found that State Farm provides the most affordable rates for a renters and auto insurance bundle, allowing you to save up to 4% on your premiums each year.CompanyAverage annual rate$ bundle average savings% bundle average savingsState Farm$1,373$604%Nationwide$1,380$483%Central Insurance$1,597$704%Geico$1,603$453%Progressive$1,750$895%Farmers$2,022$1758%Allstate$2,537$653%Iowa Farm bureau$2,617$652%Final thoughts: Average renters insurance in New MexicoRenters insurance is a must-have for renters in New Mexico. It protects your belongings in the event of damage from fire, theft, vandalism or any other natural disasters.To find the best renters insurance at an affordable rate, shop around and compare quotes from multiple insurance companies. In addition to price, consider factors like coverage options, deductibles and customer reviews.How much is renters insurance in other statesAlaska$257/YearAlabama$324/YearArkansas$363/YearArizona$260/YearCalifornia$271/YearColorado$191/YearConnecticut$292/YearWashington, D.C.$272/YearDelaware$181/YearFlorida$248/YearGeorgia$352/YearHawaii$247/YearIowa$203/YearIdaho$184/YearIllinois$246/YearIndiana$269/YearKansas$251/YearKentucky$207/YearLouisiana$504/YearMassachusetts$262/YearMaryland$256/YearMaine$198/YearMichigan$340/YearMinnesota$211/YearMissouri$231/YearMississippi$387/YearMontana$275/YearNorth Carolina$366/YearNorth Dakota$192/YearNebraska$295/YearNew Hampshire$173/YearNew Jersey$207/YearNevada$246/YearNew York$293/YearOhio$252/YearOklahoma$281/YearOregon$288/YearPennsylvania$274/YearRhode Island$476/YearSouth Carolina$294/YearSouth Dakota$202/YearTennessee$290/YearTexas$226/YearUtah$204/YearVirginia$235/YearVermont$182/YearWashington$222/YearWisconsin$167/YearWest Virginia$248/YearWyoming$136/YearShow more Explore other insurance options in New-Mexico Average homeowners insurance cost in New Mexico Average car insurance cost in New Mexico Non-owner car insurance in New Mexico Shivani GiteContributing Writer | . .Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions. In case you missed it What is HO-6 condo insurance and how much does it cost? Average homeowners insurance cost by ZIP code in 2025 What is dwelling coverage and how much do you need? Personal liability insurance: What it is and why you need it Hurricanes and home insurance: How hurricane insurance works How replacement cost coverage works when you file a claim How much do claims increase home insurance rates? Mobile home insurance cost and coverage in 2025 Homeowners insurance basics Home Insurance Advisor Cheapest homeowners insurance in 2024 How much flood insurance do I need? How to bundle home and auto insurance policies to save money The largest home insurance companies by market share Home insurance discounts for cheaper rates How much does dog liability insurance cost and do you need it? Do you have an emergency go-bag? Most Americans don’t 1/1 Related Articles Guide to the insurance claims history report (CLUE) By Shivani Gite Guide to off-grid home insurance By Lena Borrelli Renters insurance: Compare quotes in 2025 By Prachi Singh How to find a homeowners insurance policy By Shivani Gite Renters insurance calculator: How much renters insurance costs by state and city in 2025 By Shivani Gite Mobile home insurance cost and coverage in 2025 By Chris Kissell On this page Average renters insurance cost in New Mexico per monthAverage renters insurance cost in New Mexico by companyAverage cost of renters insurance in New Mexico by coverage levelAverage cost of renters insurance in New Mexico by cityAverage cost of renters insurance in New Mexico by ZIP codeRenters and auto bundle discounts in New MexicoFinal thoughts: Average renters insurance in New Mexico ZIP Code Please enter valid ZIP See rates