Homeowners insurance in New Mexico: premium by ZIP code
New Mexico's median ZIP code paid $1,451 per policy in 2022; Bernalillo County, Albuquerque, paid less, $1,154.
Independent site, not an insurer or a broker. Treasury figures cover 2018 to 2022 only.
Premium per policy in 2022, New Mexico (median ZIP code)
$1,451
Average paid per HO-3 or HO-5 policy, inflation-adjusted as published by the Treasury. At September 2026 prices: about $1,933.
| Change from 2018 to 2022, after inflation | +3.9% |
| Premium per policy in 2018 | $1,396 |
| Premium per policy in 2022 | $1,451 |
| 2022 premium carried to September 2026 (BLS index) | $1,933 |
| Policies not renewed by the insurer, 2022 | 0.88% |
| Claims paid per 100 policies, yearly average | 4.3 |
| Average claim paid, 2018 to 2022 (adjusted) | $13,691 |
| Cancelled for nonpayment, 2022 | 1.78% |
Treasury data stop in 2022. The September 2026 figure applies the national BLS price index to the 2022 value, read as 2022 dollars: an estimate, not a quote.
Compiled by Radif Partners · Where the numbers come from · 201 ZIP codes in 33 counties of New Mexico in the Treasury file · not a quote
New Mexico homeowners paid $1,451 per policy in the median ZIP code in 2022 in the Treasury file, ranked 32 of 51 and a little below the national $1,551, after a rise of +3.6% after inflation. Cities pay less than the mountains. Bernalillo County, Albuquerque, paid $1,154 and Doña Ana County, Las Cruces, $1,212, while Rio Arriba County in the north paid $1,596. The dearest ZIP codes were in the Sangre de Cristo range, 87562 in San Miguel County at $4,234 and 87525 in Taos County at $3,650. Wildfire is the risk behind those figures, and the 2022 Hermits Peak and Calf Canyon fire, the largest in state history, burned in that area. Claims were average in number and size. Nonrenewals rose to 0.88% in 2022. New Mexico's FAIR plan writes a basic dwelling fire policy. The data stop in 2022.
Albuquerque, Rio Rancho and Las Cruces
Bernalillo County had 19 ZIP codes in the file and a median of $1,154 in 2022, up +4.6% after inflation. Sandoval County, with Rio Rancho, paid $1,470, and Doña Ana County $1,212. Hail along the Rio Grande corridor and wind are the usual urban claims. The cheapest ZIP codes in the state were in Grant County in the southwest, 88065 at $939 and 88023 at $960.
The northern mountains
Rio Arriba County paid $1,596, down -4.9% after inflation, an unusual fall for a wildfire area that may reflect insurers writing fewer of its most exposed homes. ZIP 87562 and 87525 paid $4,234 and $3,650. The Hermits Peak and Calf Canyon fire of spring 2022 destroyed hundreds of homes in Mora and San Miguel counties; it was started by federal prescribed burns, and Congress set up a separate compensation fund for its victims, outside the insurance system. The state's range, from under $1,090 for the cheapest tenth of ZIP codes to over $2,385 for the dearest, is one of the wider ones.
A mountain home: is the limit enough after a fire?
Example, not your result yet· change a figure to see yours
Paid with the proportional reduction
$279,000
| Limit needed to avoid the reduction | $304,000 |
| Reduction from underinsurance | $1,000 |
| Left for you to pay | $101,000 |
Claims and the policy
Paid claims ran at 4.3 per 100 policies a year, ranked 27 of 51, at $13,691 on average. After a total loss by fire, the dwelling limit is the ceiling of the payment, so a limit set years ago can fall short of rebuild costs that rise after a disaster. The calculator above shows how much a limit below the cost to rebuild leaves uncovered; the dwelling coverage page explains the rule.
Renewals and the FAIR plan
The median nonrenewal rate went 0.80%, 0.78%, 0.60%, 0.64%, 0.88% from 2018 to 2022. New Mexico's FAIR plan writes a basic dwelling fire policy covering fire, lightning, windstorm and hail for homes that cannot find a private insurer. The New Mexico Office of Superintendent of Insurance handles complaints.
New Mexico, year by year
| Year | New Mexico median ZIP | National median ZIP | Nonrenewal rate | Claims per 100 policies | Paid loss ratio |
|---|---|---|---|---|---|
| 2018 | $1,396 | $1,445 | 0.80% | 4.3 | 36% |
| 2019 | $1,428 | $1,469 | 0.78% | 4.4 | 39% |
| 2020 | $1,438 | $1,491 | 0.60% | 3.3 | 26% |
| 2021 | $1,448 | $1,521 | 0.64% | 3.4 | 28% |
| 2022 | $1,451 | $1,551 | 0.88% | 4.2 | 34% |
The New Mexico counties with the most ZIP codes in the file
| County | ZIP codes | Median 2018 | Median 2022 | Change | Nonrenewal 2022 | Average claim |
|---|---|---|---|---|---|---|
| Bernalillo County | 19 | $1,136 | $1,154 | +4.6% | 0.63% | $13,548 |
| Rio Arriba County | 17 | $1,594 | $1,596 | -4.9% | 0.97% | $14,176 |
| Doña Ana County | 15 | $1,163 | $1,212 | +3.9% | 0.59% | $11,024 |
| Sandoval County | 14 | $1,413 | $1,470 | +5.6% | 0.87% | $16,629 |
| Taos County | 13 | $1,711 | $1,844 | +8.9% | 1.18% | $14,855 |
| Santa Fe County | 12 | $1,747 | $1,756 | +6.1% | 0.74% | $17,192 |
| Grant County | 11 | $1,101 | $1,093 | -0.8% | 1.23% | $7,927 |
| San Juan County | 11 | $1,202 | $1,197 | -4.5% | 0.87% | $14,194 |
Highest and lowest premiums per policy, New Mexico ZIP codes, 2022
| ZIP code | County | Premium per policy | Change since 2018 | Nonrenewal 2022 |
|---|---|---|---|---|
| 87562 | San Miguel County | $4,234 | +48.6% | 0.00% |
| 87525 | Taos County | $3,650 | +16.0% | 0.00% |
| 87506 | Santa Fe County | $3,193 | +9.9% | 0.44% |
| 87710 | Colfax County | $2,858 | +2.4% | 0.71% |
| 88242 | Lea County | $2,843 | -0.5% | 1.06% |
| 88065 | Grant County | $939 | +2.8% | 0.00% |
| 88023 | Grant County | $960 | +7.5% | 1.64% |
| 88001 | Doña Ana County | $977 | +5.9% | 0.63% |
| 87020 | Cibola County | $988 | -1.3% | 0.69% |
| 86515 | McKinley County | $993 | -2.7% | 3.45% |