Best Albuquerque Homeowners Insurance Quotes (2025)

Chubb, Nationwide, and USAA offer some of the best homeowners insurance policies in Albuquerque, New Mexico.

Elizabeth Rivelli
Elizabeth Rivelli
  • 5+ years writing insurance and personal finance topics

  • Auto, home, health, and life insurance expertise

Elizabeth has extensive insurance industry experience, having written for Insureon, Rate Retriever, and Insurify. She’s also finance and insurance editor for Car and Driver.

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Becky Helzer
Edited byBecky Helzer
Becky Helzer
Becky HelzerEditor

Becky Helzer is an editor at Insurify. She loves helping writers express their ideas clearly and authentically. With a diverse background in editing everything from curriculum and books to magazine articles and blog posts, she’s worked on topics ranging from home finance, insurance, and cloud computing to the best tools for home improvement.

A proud graduate of Colorado State University with a degree in technical journalism, Becky lives in Fort Collins, CO, with her husband and their two spoiled rescue dogs.

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The average cost of homeowners insurance in Albuquerque, New Mexico, is $2,375 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible. A standard home insurance policy protects the dwelling and your personal property and offers liability protection, medical payments, and loss of use coverage.[1]

Albuquerque’s more than 5,000 acres are vulnerable to flooding during the summer months.[2] Since homeowners insurance excludes flood damage, a separate flood insurance policy can help protect your home during monsoon season.

Quick Facts
  • Homeowners insurance in Albuquerque costs about $200 less per year on average than the $2,584 national average.

  • Nationwide is the best insurer in the city for customizable home insurance coverage.

  • State Farm has the cheapest average home insurance rates in Albuquerque.

Best home insurance companies in Albuquerque

Many reputable insurance companies cover homeowners in Albuquerque, but the best insurer for you depends on your situation, coverage needs, and budget. The following three companies are among the best options when comparing home insurance in Albuquerque.

Best company for high-value homes: Chubb

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IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
7.8/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
688
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$303/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$457/mo

Chubb’s Masterpiece homeowners insurance provides comprehensive coverage for high-value homes. The company offers extended replacement cost coverage for your dwelling, replacement cost coverage for your contents, a cash settlement option, water backup coverage, generous personal liability limits, and complimentary services like risk consulting and home appraisals.

Chubb also receives high customer and claims satisfaction ratings from J.D. Power, and AM Best gives it a financial strength rating of A++ (Superior).

Pros
  • High J.D. Power customer and claims satisfaction ratings

  • Excellent coverage options and free services

Cons
  • Quotes and policies not available online

  • Few advertised discounts

Best company for military families: USAA

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IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
737
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$146/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$206/mo

USAA exclusively insures active and retired military personnel and their immediate family members. The company stands out for its coverage options, which include automatic replacement cost coverage for belongings, military uniform coverage, and identity theft coverage. The USAA Home Protector package provides additional coverage for debris removal and rebuilding costs.

Additionally, USAA customers can get discounts on home-related products and services through USAA Perks, like discounted home security kits and savings on monthly storage rental fees.

Pros
  • Many coverage options

  • USAA Perks program offers additional discounts

Cons
  • Available only to eligible military personnel and family members

  • Lower bundling discount than some competitors

Best company for customizable coverage: Nationwide

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.4/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
641
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$223/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$339/mo

Nationwide is worth considering if you want to customize your home insurance policy. The company offers endorsements like contents replacement cost coverage, roof replacement coverage, flood insurance, valuable items coverage, service line coverage, equipment breakdown coverage, and water backup coverage.

Nationwide also has many available discounts. You can save money if you install protective devices, live in a gated community, remain claims-free, have a newer roof, or insure a newly purchased home.

Pros
  • Easy to customize a policy with endorsements

  • Many discount opportunities

Cons
  • No coverage for mobile or manufactured homes

  • Higher-than-average number of customer complaints with the National Association of Insurance Commissioners (NAIC)

  • Our editorial team analyzed regional and national home insurance companies that sell policies in Albuquerque to assess which offer the best rates, coverage options, customer service, and savings to homeowners. We prioritized competitive rates, 24/7 customer service, homeownership discounts or bundling options, and specialty or supplemental coverages.

Cheapest home insurance in Albuquerque

State Farm and Travelers offer some of the cheapest homeowners insurance rates in Albuquerque, on average. The table below shows several other cheap home insurance companies in Albuquerque and each company’s average rate for $300,000 in dwelling coverage with a $1,000 deductible.

Insurance Company
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Average Annual Premium
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State Farm$1,462
Travelers$1,536
Allstate$1,666
Foremost$1,997

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How much is home insurance in Albuquerque?

Albuquerque’s average home insurance premium is $2,375 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible.

The average home insurance cost in Albuquerque varies for every homeowner. Your premium depends on factors like your ZIP code, coverage limits, deductible, and insurance company.[3] Insurers also consider your home’s age, square footage, and building materials when calculating your premium.

Cost of home insurance by dwelling coverage in New Mexico

The dwelling insurance portion of your homeowners insurance policy pays to repair or rebuild your home after a covered loss. The higher your dwelling coverage limit, the more expensive your home insurance premium will be.

The following table highlights how different coverage limits affect your average annual premium.

Coverage Limit
sort ascsort desc
Average Annual Premium
sort ascsort desc
$100,000$1,451
$200,000$2,461
$300,000$3,488
$400,000$4,460
$500,000$5,383

Cost of homeowners insurance by deductible amount

Each time you file a home insurance claim, you pay a deductible — your out-of-pocket cost before your insurance coverage begins. Although choosing a higher deductible means a lower premium, you’ll pay more out of pocket if you need to file a claim.

The average annual premiums for a homeowners insurance policy with a $500 deductible versus one with a $1,000 deductible appear below.

Deductible Amount
sort ascsort desc
Average Annual Premium
sort ascsort desc
$500$2,426
$1,000$2,375

Average cost of home insurance in other cities in New Mexico

Home insurance premiums vary depending on your city and ZIP code. For example, areas that experience severe weather more frequently or neighborhoods with high property crime rates might have more expensive home insurance rates than other places in the state.

The table below shows the average annual cost of homeowners insurance in several other New Mexico cities based on $300,000 in dwelling coverage with a $1,000 deductible.

City
sort ascsort desc
Average Annual Premium
sort ascsort desc
Las Cruces$2,085
Santa Fe$2,195
Farmington$2,310
Carlsbad$5,376
Clovis$6,458

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What to know about owning a home in Albuquerque

If you own a home in Albuquerque, it’s important to consider the weather-related risks and make sure your home has adequate protection against specific perils.

  • illustration card https://a.storyblok.com/f/162273/150x150/0194b78427/weather-96x96-orange_043-flood.svg

    Flooding

    Albuquerque can experience severe flooding during monsoon season, which generally happens during the summer and early fall months. Heavy rain and flash flooding could damage or destroy your house, even if you don’t live in a designated flood zone.

    Because standard home insurance excludes flood damage, many homeowners in Albuquerque can benefit from a separate flood insurance policy. You can get flood insurance through the government-backed National Flood Insurance Program (NFIP) or a private flood insurer.

  • illustration card https://a.storyblok.com/f/162273/x/1883c5aa7c/fire-and-lighting.svg

    Wildfires

    Another environmental risk in Albuquerque is wildfires. In April 2025, the Rio Grande fire in Bosque Farms, just south of Albuquerque, burned roughly 60 acres and forced evacuations for homeowners in the area.[4]

    While homeowners insurance covers damage from wildfires, it’s crucial to have adequate dwelling and personal property coverage in case of a total loss. If you have valuable items like fine art, firearms, or jewelry, you might also consider adding a scheduled personal property endorsement for more protection.

Albuquerque home insurance FAQs

As you shop for the best home insurance in Albuquerque, the following information may help answer your remaining questions.

  • The average cost of home insurance in Albuquerque is about $198 per month. Your total cost will likely increase if you add endorsements or a flood policy.

  • State Farm has the cheapest home insurance in Albuquerque on average, based on Insurify’s available rate data. The average annual State Farm home insurance premium is $1,462 — much lower than the citywide average of $2,375.

  • The 80/20 rule for home insurance states that you should insure your dwelling for at least 80% of the home’s replacement value. Otherwise, an insurance company may not cover the full cost of a claim, and you’d have much higher out-of-pocket costs to repair or rebuild your house.

  • To shop for home insurance, decide how much coverage you need. Then, consider what you value in an insurance company, whether it’s unique coverage options, multiple discounts, or 24/7 customer service. Research insurers that meet your needs and get personalized quotes. Compare the quotes to see which insurer can offer you the best coverage at the lowest price.

Methodology

Insurify data scientists analyzed rates from more than 180 home insurance companies sourced directly from Insurify’s partner companies and Quadrant Information Services. Rates span all 50 states and Washington, D.C., and quote averages represent the mean price for a given coverage level and geographic area. To ensure data reliability, only insurers meeting minimum quote thresholds were included in the analysis.

Unless otherwise specified, quoted rates reflect the average cost for homeowners with no prior claims and good credit with a home construction year of 1980. The default coverage assumptions include:

Default Coverage Assumptions

  • Dwelling coverage: $300,000
  • Deductible: $1,000
  • Personal property limit: $25,000
  • Liability limit: $300,000

Additional data points beyond these default values are sourced from Insurify’s proprietary database. Rates are updated monthly.

Sources

  1. Insurance information Institute. "What is covered by standard homeowners insurance?."
  2. City of Albuquerque. "Floodplain Development."
  3. New Mexico Office of Superintendent of Insurance. "Homeowners Insurance."
  4. Map of Fire. "Rio Grande Fire."
Elizabeth Rivelli
Elizabeth Rivelli

Elizabeth Rivelli is a freelance writer covering insurance and personal finance. She has extensive knowledge of various insurance lines, including property and casualty, health, and life insurance. Her byline has been featured in dozens of publications, including Investopedia, Forbes, Bankrate, NextAdvisor, and Insurance.com. 

Elizabeth has been a contributor at Insurify since October 2022.

Becky Helzer
Edited byBecky HelzerEditor
Becky Helzer
Becky HelzerEditor

Becky Helzer is an editor at Insurify. She loves helping writers express their ideas clearly and authentically. With a diverse background in editing everything from curriculum and books to magazine articles and blog posts, she’s worked on topics ranging from home finance, insurance, and cloud computing to the best tools for home improvement.

A proud graduate of Colorado State University with a degree in technical journalism, Becky lives in Fort Collins, CO, with her husband and their two spoiled rescue dogs.

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