Average homeowners insurance cost in Rio Rancho, NM

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In Rio Rancho, homeowners pay an average annual rate of $2,108 for a coverage level that includes $300,000 for dwelling, $100,000 for liability protection, and a $1,000 deductible, according to Insure.com’s rate analysis. This is $474 less than the national average of $2,582.

Homeowners insurance premiums can vary significantly from one property to another. In Rio Rancho, the cost of home insurance is influenced by several factors, including:

Size of your home
Age of your home
Amount of coverage required
Location
Your credit score

It’s crucial to compare quotes from multiple insurers to ensure you get the best homeowners insurance policy. This allows you to find the coverage that meets your specific needs.

Read this guide to discover the monthly homeowners insurance cost in Rio Rancho, explore the insurance costs for different dwelling coverage, and find out which companies offer affordable home insurance in Rio Rancho.

Key takeaways

In Rio Rancho, homeowners insurance costs $2,108 annually.
State Farm offers the most affordable homeowners insurance in Rio Rancho with an average annual premium of $1,484.
If you increase your dwelling coverage from $200,000 to $300,000, your annual home insurance premium will be $644 higher.

Average homeowners insurance cost in Rio Rancho per month

Residents of Rio Rancho pay an average of $176 a month for homeowners insurance, as per Insure.com’s rate analysis. It’s $44 less than the state average of $220 and $39 less than the national average for home insurance across the United States.

The cost of your homeowners insurance policy in Rio Rancho may change based on location, property value, and selected coverage options.

Average homeowners insurance cost for a $200,000 house in Rio Rancho

In Rio Rancho, NM, homeowners pay an average of $1,464 annually for a $200,000 house. The amount you pay for home insurance each year depends on factors such as – natural disasters or events within your locality.

Some regions are more at risk for natural disasters, like floods, hurricanes, or tornadoes, implying higher rebuilding rates in these areas are higher, resulting in higher insurance premiums. It’s essential to note that your insurance policy might not cover damages caused by floods or hurricanes. If you reside in an area prone to flooding, consider buying flood insurance.

Average homeowners insurance cost for a $300,000 house in Rio Rancho

According to Insure.com’s rate analysis, homeowners in Rio Rancho typically pay an average of $2,108 annually for a home insurance policy with $300,000 in dwelling coverage, $100,000 in liability protection, and a $1,000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, your home insurance rates will rise by $644. It is advisable to purchase enough insurance to cover the entire cost of rebuilding your home. The required amount of dwelling coverage can vary based on factors such as the size of your home, its features, and the cost of living in your area.

Average homeowners insurance cost in Rio Rancho by company

After evaluating several carriers, State Farm is the least expensive homeowners insurance provider in Rio Rancho. It’s average annual rate for homeowners in Rio Rancho is $1,484. Farmers holds the second position.
Researching the insurance company is crucial before selecting a homeowners insurance policy. Our experts have analyzed all insurance providers in Rio Rancho and compiled a list of the cheapest home insurance providers. Below, you’ll find the home insurance companies in Rio Rancho and their average annual premiums.

Home Insurance Company	Annual rate
State Farm	$1,484
Farmers	$2,421

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Rio Rancho for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.