If you finance your home with a mortgage, your lender probably requires you to have at least basic homeowners insurance. And with all that a standard policy in New Mexico includes, you'll be more than glad to have it.
From wildfires to windstorms, New Mexico has its share of weather-related risks. With dwelling protection behind you, you don't have to worry about rebuilding your home out of pocket if a covered risk damages or completely levels your place.
When choosing your dwelling protection limits, remember that you probably want enough coverage to handle the rebuilding cost of your home — which is likely higher than what you paid to buy it and what it cost to build the first time around.
Additional living expense protection
Your homeowners claim has been processed and repairs are getting underway on your house following a covered incident. All good, right? Except … where are you supposed to stay if your home is uninhabitable?
Additional living expense protection takes care of that, paying for expenses such as a hotel. Best of all, coverage lasts for up to 12 months, so you have the time to get the job done right.
Other standard coverages included on a New Mexico policy include: