Cheap Mobile Home Insurance Quotes New Mexico

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New Mexico is one of the states that have seen a significant increase in the amount of mobile homes over the past few years. Based on the US Census, there are approximately over 145,000 mobile homes in the state of New Mexico. This type of residence makes it possible for the residents of the state to own a home despite a faltering economy because it is much cheaper than traditional house and lot properties. But just because the cost of acquisition for a mobile home is cheap, it does not mean that the insurance is, too.

In fact, insurance companies put higher premium rates on mobile homes because they are at a greater risk of damage. With up to 18% of the state's households being mobile homes, it is important to protect your investment with mobile home insurance.

Cheap Mobile Home Insurance Quotes

What is the average cost of mobile home insurance in New Mexico?

Every insurance provider is unique in that they use their own algorithm in computing the insurance rates for mobile homes. This cost can vary significantly based on these factors that have been pre-determined.

The market value of the mobile home is one of the primary factors that insurance providers look into when determining the cost of the policy. It could vary based on the square footage and the city where you live in. To give you an idea, the average cost of a mobile home in Albuquerque is $43,922. This cost goes up if you buy a mobile home in the state capital of Santa Fe - $75,023.

Cheap Mobile Home Insurance Quotes

Aside from the cost of the mobile home, there are other factors to take into account when you compare prices online. Insurance companies will also consider the safety of the location. Obviously, mobile homes situated in areas with higher crime rates are going to be more expensive to insure than those in safer communities. The frequency of natural disturbances such as tornadoes, hurricanes, and storms can also cause your insurance premium rates to go up.

The cost of homeowners insurance in New Mexico starts at $110 per month or up to $1319 annually. It is number 22 in the US in terms of having the most expensive insurance rates. You can expect mobile home insurance to be a bit higher than that.

How much coverage do you need?

To get the best policy that can offer protection for your mobile home, it is important to know what you need protecting from.

In terms of natural disasters, New Mexico is rated to be at very low to medium risk. Historical data shows that the state is not at risk for the big three natural disasters - tornadoes, hurricanes, and earthquakes. There is no active fault line in the state and it only gets up to 10 tornadoes per year, which are considered relatively weak. You can get a standard coverage for your mobile home in terms of natural disasters protection.

When it comes to theft, burglary, and vandalism, you need to include this in your coverage for your mobile home insurance policy. While the crime rate in the state has dropped in the past few years, it is still quite significant. This is where most of the risk stems from when it comes to protecting your mobile home.

For information on other states, make sure to check the individual pages.

Manufactured Home Insurance Companies Near Me

Best Cheap Mobile Home Insurance New Mexico

the keller agency

6321 Riverside Plaza Ln, Albuquerque, NM 87120

(505) 792-6616

Roma Insurance Services

3120 N Grimes St B, Hobbs, NM 88240

(575) 393-7504

Walker Agency

1501 San Juan Blvd # 201, Farmington, NM 87401

(505) 326-4952

Insurance Services of New Mexico, Inc, Fort Sumner

631 N 4th St, Fort Sumner, NM 88119

(575) 355-2436

Daniels Insurance Inc

805 St Michaels Dr, Santa Fe, NM 87505

(505) 982-4302

GEICO Insurance Agent

5318 Menaul Blvd NE, Albuquerque, NM 87110

(505) 265-1600

Riviera De Sandia Mobile Home

12147 NM-14, Cedar Crest, NM 87008

(505) 281-3395

Route 66 Insurance, Inc.

3701 San Mateo Blvd NE #101, Albuquerque, NM 87110

(505) 884-1615