Fast & Affordable Landlord Insurance in New Mexico
Easy online insurance for rental property owners and investors. Steadily is rated 4.5 out of 5 stars by landlords nationwide.
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We've gotten more than $20 million in property insured in New Mexico
About being a landlord in New Mexico
Generally, housing costs are 5% lower than the national average. This makes New Mexico a great place for new investors looking to get started or experienced investors wanting to diversify their portfolios. New Mexico is a landlord-friendly state as there are no rent-control laws in place.
- The security deposit must be returned with 30 days of lease termination
- 24-hour notice before entering the unit
- Must notify tenants 30-days before rent increases
How Much Does Landlord Insurance Cost in New Mexico?
The cost of landlord insurance in New Mexico is about $1012 per year, which is on par with the national average.
Who is landlord insurance for?
Landlord insurance (also known as rental insurance) is a policy for people who rent their homes to others. Landlord insurance is not required for a landlord, but insurance can bring many benefits:
Legal liabilities
Fire and water damage
Financial protection against natural disasters
Protection for your furnishings
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Properties we look after
We make it easy to get landlord insurance for many types of properties
We also help AirBNBs, VRBOS, and other rental properties
Not sure if your property is covered?
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Single Family
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Apartment
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Multi-family
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Manufactured
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Condo units
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Vacant or restoration
Building data
Properties across the state vary in size and characteristics. Here is data on the properties we've insured.
Average Sq/Ft:
% Single Family:
% Duplex:
% Triplex:
1,440
94.51%
0.74%
1.48%
Stucco:
Brick:
Log:
65.93%
17.78%
0.00%
Above Average:
Custom:
Economy:
Standard:
Premium:
2.22%
0.74%
10.37%
86.67%
0.00%
Boiler:
Heat Pump:
Furnace:
Direct Heat:
3.70%
0.00%
95.56%
0.00%
Coverages
We cover a wide range of risks, or you can choose a limited set of coverages for a lower premium
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Fire
Because of modern safety codes, fires have become rarer, but the fires that do start tend to cause total destruction of the property
Water
Broken pipes and appliance leaks are the most common and overall the most expensive property damage for rental properties
Lawsuits
Liability protection covers the cost of defending you and settling claims from tenants and their guests for injuries sustained on your property
Riot and civil commotion
When violent protests break out, riot coverage can pay to fix property damage caused by looters and protestors
Vandalism & theft
Malicious mischief coverage, as it’s known, covers repairs to broken glass, graffiti removal, and replacement of stolen or damaged property like shared washing machines
Injury
Injury protection can keep you from getting stuck with the cost of medical bills if a tenant or visitor gets injured on the property
Bonus coverages
Many policies also include coverage for a long list of other perils such as riots or civil commotion, explosions, volcanic eruptions, and damage caused by vehicles
Windstorm, hail, & lightning
Roof damage from storms has become increasingly common as the intensity and frequency of storms have increased over the last two decades
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No hidden cancellation fees. Competitive rates nationwide.