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 GiteShivani GiteShivani 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.VIEW FULL PROFILE | Reviewed by Nupur GambhirNupur GambhirEditor-in-ChiefNupur Gambhir is the editor-in-chief of Insure.com and a licensed life, health and disability insurance agent in New York with seven years of experience covering insurance. Her expertise has been featured in Bloomberg News, Forbes Advisor, CNET, Fortune, Slate, Real Simple, Lifehacker, The Balance, The Financial Gym and MSN. She holds a BA in Economics from The Ohio State University.VIEW FULL PROFILESee moreSee less | Updated onApril 9, 2026 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. Renters insurance costs in New Mexico vary depending on your coverage level, insurance provider, and personal circumstances. On average, renters in New Mexico pay $195 per year or $16 per month for a policy that includes $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 $195 per year or $16 per month.State Farm provides the least expensive renters insurance in New Mexico at an average rate of $148 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 $16. 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$16$8 lessPowered by:Average renters insurance cost in New Mexico by companyRenters in New Mexico can find the most budget-friendly insurance with State Farm, which has an average annual cost of $148, according to our data.It’s a good idea to gather quotes from at least three insurance providers, as each company calculates premiums differently.Below are the average annual and monthly renters insurance rates from various insurers in New Mexico.CompanyAverage annual rateAverage monthly rateState Farm$148$12Farmers$222$18USAA*$183$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 $185/year Estimated renters insurance rates in New Mexico $15 Monthly renters insurance cost in New Mexico -31% Compared to national average Get quotes Average cost of renters insurance in New Mexico by coverage levelOn average, New Mexico renters pay $195 each year for insurance for a coverage limit of $40,000 in personal property, $300,000 in liability protection and a $1,000 deductible.Reducing your personal property coverage from $40,000 to $20,000 can lower your renters insurance cost in New Mexico to $152 per year. This policy still includes $300,000 in liability protection and a $1,000 deductible. However, you should ensure that $20,000 is adequate coverage for your personal belongings before making this change.Below are 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$151$13$20,000 with $500 Deductible and $300,000 Liability$161$13$20,000 with $1,000 Deductible and $100,000 Liability$142$12$20,000 with $1,000 Deductible and $300,000 Liability$152$13$40,000 with $500 Deductible and $100,000 Liability$196$16$40,000 with $500 Deductible and $300,000 Liability$206$17$40,000 with $1,000 Deductible and $100,000 Liability$185$15$40,000 with $1,000 Deductible and $300,000 Liability$195$16$60,000 with $500 Deductible and $100,000 Liability$241$20$60,000 with $500 Deductible and $300,000 Liability$250$21$60,000 with $1,000 Deductible and $100,000 Liability$228$19$60,000 with $1,000 Deductible and $300,000 Liability$238$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 MexicoThe amount New Mexico renters pay for insurance largely depends on their ZIP code. Among all the ZIP codes analyzed, 87310 is the state’s most affordable ZIP for renters insurance, with an average annual premium of $183.Since rates differ by ZIP code, comparing quotes is one of the simplest ways to get the most affordable renters insurance policy in New Mexico.ZIP codeCityAverage annual rateAverage monthly rate87310Brimhall$183$1587311Church Rock$183$1587312Continental Divide$183$1587313Crownpoint$183$1587013Cuba$183$1587316Fort Wingate$183$1587301Gallup$183$1587317Gamerco$183$1587347Jamestown$183$1587319Mentmore$183$15Powered 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 $226 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$226$1987117Kirtland Air Force Base$224$1987105South Valley$224$1987022Isleta$217$1887047Sandia Knolls$217$1887002Belen$211$1887006Bosque$211$1887068Bosque Farms$211$1887008Cedar Crest$211$1887023Jarales$211$18Powered 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$269/YearAlabama$390/YearArkansas$406/YearArizona$275/YearCalifornia$300/YearColorado$224/YearConnecticut$325/YearDelaware$207/YearFlorida$215/YearGeorgia$353/YearHawaii$252/YearIowa$216/YearIdaho$190/YearIllinois$294/YearIndiana$268/YearKansas$254/YearKentucky$209/YearLouisiana$579/YearMassachusetts$229/YearMaryland$251/YearMaine$211/YearMichigan$471/YearMinnesota$218/YearMissouri$249/YearMississippi$429/YearMontana$284/YearNorth Carolina$436/YearNorth Dakota$200/YearNebraska$314/YearNew Hampshire$160/YearNew Jersey$238/YearNevada$263/YearNew York$328/YearOhio$255/YearOklahoma$299/YearOregon$295/YearPennsylvania$325/YearRhode Island$560/YearSouth Carolina$314/YearSouth Dakota$208/YearTennessee$309/YearTexas$223/YearUtah$246/YearVirginia$270/YearVermont$181/YearWashington$249/YearWisconsin$185/YearWest Virginia$244/YearWyoming$142/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?Best and cheapest companies for home and auto bundles in New Mexico 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? 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Best companies, discounts, and rates By Alisha Ambre How to find a homeowners insurance policy By Shivani Gite Cost of living by state By Chris Kissell Cost of living calculator By Nupur Gambhir How to bundle home and auto insurance policies to save money By Alisha Ambre How much do claims increase home insurance premiums? By Les Masterson 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