What Is the Best Home Insurance Coverage for New Homeowners in New Mexico?

The best homeowners insurance coverage available in New Mexico is the basic standard policy with additions to cover any and all personal possessions and other appropriate additions to the policy, paying the lowest possible rate and not overpaying.

Surveys taken in New Mexico, reported that the average insurance rate was nearly $700.00 per year and this reflected an increase from 2011. These costs were standard insurance policies that included dwelling replacement, other structures, contents, loss of home expenses and liability.

Speak at length with one our independent insurance agents in New Mexico about fitting in all the possible discounts in your homeowners plan, such as bundling home and auto insurance. Discounts are also offered if you have had no claims turned in and if you have a burglar alarm and fire alarms on your property.

The independent agent will add in any upgrades you have made to your property such as granite kitchen countertop, hardwood floors and appliances that are stainless steel. Any materials that are put into the home that is above standard materials should be considered.

While flood insurance is optional for homeowners, there are some residents of New Mexico who may be required to purchase flood insurance if they reside in specific locations of the state, as designated by FEMA, such as the county of Valencia and Las Maravillas. If your home has a mortgage you will have no choice but to add flood insurance if you live in the new designated flood areas. You will be given at least 60 days to comply. If the homeowner does not comply then the mortgage company will buy this policy for you and your rate could be much higher.

Contact your independent agent in Albuquerque, Rio Rancho or Las Cruces for a calculation of the lowest possible insurance rate with the coverage that will completely cover you and your family.

Does having an auto security alarm save you on your car insurance in Dallas, TX?

Car insurance is the one thing that most people forget about as time passes by. As long as they do not need to file a claim the policyholder is content with letting the policy renew year after year. It is a good idea to take the time and review what kind of coverage limits you have on the policy and the various types of discounts that your agent gives you on a term basis. One discount that you will want to have in Dallas, Texas is the security alarm feature that can save you money on your auto coverage.

Different Types of Car Alarms

To help you better understand how an alarm system can lower your auto insurance premium it will help to know what kind of alarms are available.

  • The first type of alarm system that you will want to know about is considered to be the passive alarm system. This system comes loaded on most new cars and is activated when the car is shut off and the doors are locked. Your insurance company will allow this type of an alarm to lower your premium.
  • The active car alarm system must be turned on by the owner using a remote or key system. There is usually a sensor located on all access points to the vehicle and when tripped the alarm will go off. This type of an alarm is also used to lower auto insurance premiums.
  • Sensor devices are another type of an alert system. This alarm will activate when a person get too close the car are touches the body in any way. In some cases sound waves have been known to set this alarm off.

If you still have questions about your alarm system and you live in the San Antonio or El Paso, Texas areas, then you can call your independent agent and ask about theft devices. You can have all your questions answered and even find out how much of a discount you get for each type of alarm system.

Steps on What to Do When the Accident Is Your Fault in San Antonio, Texas

If you’ve been an auto accident in San Antonio, Dallas, or El Paso, Texas, and you’re at fault, there are some specific steps you need to take in order to make sure that you protect your rights:

Say as little as possible at the scene
Don’t admit fault to passengers or the other driver until you have a chance to talk to your independent agent. Do, however, be honest with the police if they ask you what happened.

Report the accident to your insurance company
Call the insurance company as soon as you can and report that you’ve had an acident.

Call the police
If the accident was minor, the police may not show up on the scene, but most states require that police are least informed if a car accident has happened and has caused bodily injury or property damage that’s greater than $500-$1000. Protect yourself and call the police right away if anyone complains of being hurt or if there is significant damage to the other vehicle.

Take pictures
If you have a camera or camera phone with you, take as many pictures as you can, including those which show damage to both vehicles, before you leave the scene. Take pictures of things like speed limit signs or stop signs, as well.

Get witness names
Get the names of passengers (including people in the other car) and the driver. If other witnesses like those external to either car (on the sidewalk, for example) so the accident, get their names and contact information if you can.

Talk to a lawyer
This is an area where you have to be very careful. Your insurance company will want to refer you to one of its own attorneys, but this is a double-edged sword. Although it may be helpful to you, that lawyer will generally have the insurance company’s best interests in mind. Insurance companies are legally obligated to make sure they consider your interests equal to theirs, but that may also set up a conflict of interest. In other words, the insurance company may want to settle a claim with the injured party for certain amount and leave you with out-of-pocket expenses. Hiring your own attorney may be advisable, depending on the circumstances (and again, you may or may not be able to hire your own attorney, depending on the specifics of your policy).

What Type of Home Insurance Covers Natural Disaster Damage in New Mexico?

It’s important that you have insurance if you are a homeowner, but what, exactly, should you get in terms of coverage? Natural disaster damage in New Mexico is covered to some extent by a standard homeowner’s policy – but not all of it. What’s covered, and what’s not?

What’s covered

Your standard Las Cruces, Albuquerque, or Rio Rancho homeowners insurance will cover damage from the following natural disasters:

  • Tornadoes
  • Lightning
  • Hail
  • Smoke (if, for example, your house is struck by lightning and catches fire)
  • Snow, sleet, or ice weight that causes collapse
  • Damage caused by freezing to the heating, air conditioning, plumbing, fire sprinkler system, or appliances

What’s not covered

Basic home insurance policies in New Mexico don’t cover the following, although you can purchase additional coverage as needed:

  • Hurricanes

Hurricane coverage is especially important if you live in a hurricane prone area. Although New Mexico is not in direct line for actual hurricanes because it’s too far inland, it is affected by those hurricanes by events like tropical cyclones. Ask your independent agent to help you determine whether or not you need coverage and if so, how much. You may need to purchase a separate policy.

  • Floods

Mudflow damage and damage caused by floods is NOT covered by your basic policy. In addition, you can and should purchase flood insurance if you don’t have it, but you can only get this insurance coverage from the National Flood Insurance Program, which is government-operated.

  • Most water damage

Although water damage is covered in specific events as described above, it is NOT covered by a standard homeowner’s policy for other situations. For example, you are not covered if your septic system overflows or backs up. You can add a rider that will give you additional coverage for this type of separate loss.

Getting enough coverage

Although a standard homeowner’s policy will cover you for the events above, you must make sure that you have enough coverage so that you can repair or replace everything at current prices. Ask your independent agent to help you construct a policy that will provide true protection.