Home 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. | Reviewed by Nupur Gambhir Nupur Gambhir Nupur Gambhir is an insurance expert and managing editor of Insure.com. She specializes in life and health insurance content, and has experience as a marketing consultant. | Updated on: December 3, 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 monthIn New Mexico, the average monthly cost of renters insurance is $17. However, premiums can differ depending on factors such as your rental’s location, the value of your personal belongings and the level of coverage you select. Experts recommend comparing quotes from different insurance companies to find the best deal.Average renters ins cost per monthDifference compared to national average$17$5 lessPowered by:Average renters insurance cost in New Mexico by companyAccording to our data, State Farm provides the most affordable renters insurance in New Mexico, with an average annual rate of $147, followed by Farmers and USAA.Getting quotes from multiple renters insurance companies in New Mexico is a good idea, as prices can differ significantly among insurers.Below, you can find average annual and monthly renters insurance rates from various companies in New Mexico.CompanyAverage annual rateAverage monthly rateState Farm$147$12Farmers$234$19USAA*$185$15*USAA is only available to military community members and their families.Powered by: 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 levelAs we discussed above, the average cost of renters insurance in New Mexico is $201 per year. These rates are for a coverage level of $40,000 for personal property coverage, $300,000 in liability coverage and a $1000 deductible.However, if you lower the personal property coverage from $40,000 to $20,000, you will pay $156 per year for renters insurance in New Mexico, which provides $300,000 in liability protection with a $1000 deductible.Below are the average renters insurance costs in New Mexico for personal property coverage amounts 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$20Powered by:Average 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 in New Mexico by citySee rates in your cityAlbuquerqueLas CrucesSanta FeAverage cost of renters insurance in New Mexico by ZIP codeThe cost of renters insurance in New Mexico varies by ZIP code. It’s important to note that the affordability of renters insurance can differ significantly depending on your location.To provide a more comprehensive overview, let’s see some of the most and least affordable ZIP codes for renters insurance in New Mexico.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$16Powered by:Least 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$19Powered by:Final thoughts: Average renters insurance in New MexicoRenters insurance is essential for residents of New Mexico. It safeguards possessions against damage from fire, theft, vandalism, and natural disasters, ensuring protection in unforeseen circumstances.To get the best renters insurance at an affordable price, shop around and compare quotes from various insurance carriers. In addition to insurance premiums, consider factors such as coverage options, deductibles, and customer reviews to make an informed decision.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.How much is renters insurance in other statesAlaska$257/YearAlabama$324/YearArkansas$363/YearArizona$260/YearCalifornia$271/YearColorado$191/YearConnecticut$292/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 states No matches are found You might find interesting Explore related topics Average homeowners insurance cost in New MexicoBest and cheapest homeowners insurance companies in New MexicoCost of Living in New Mexico in 2025How much does condo insurance cost in New Mexico in 2025? 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 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 2026 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 2026 Homeowners insurance basics Home Insurance Advisor Cheapest homeowners insurance in 2025 How much flood insurance do I need? How to bundle home and auto insurance policies to save money 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 How much do claims increase home insurance rates? By Les Masterson Mobile home insurance cost and coverage in 2026 By Chris Kissell Average homeowners insurance cost by ZIP code in 2026 By Barry Eitel Homeowners insurance rates by state By Jake Safane How to switch home insurance By Leslie Kasperowicz What is dwelling coverage and how much do you need? By Lena Borrelli 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 codeFinal thoughts: Average renters insurance in New Mexico ZIP Code Please enter valid ZIP See rates (844) 761-9316