New Mexico Property Insurance

Homeowners insurance is a complex product filled with nuances that most consumers don’t understand. At Cress Insurance Consultants, we understand that your home is of great value to you. It’s not only the place you store your stuff, but the place you live and have memories. Below is a brief guide to help you understand New Mexico property insurance a little better. Keep in mind that this is general information and you should seek out specific advice regarding your situation from one of our qualified agents.

What do you need to know about your coverage?
Homeowners insurance provides basic protection for your home and the possessions in your home. Different policies will have different limits and deductibles for the physical structure of your home and your personal property. Additionally, insurance policies will offer you different levels of liability coverage to protect your personal assets in the event that someone is injured on your property and files a lawsuit.

Keep in mind that a basic New Mexico property insurance policy does not cover damage from all types of disasters. For example, flood damage is usually not covered in a basic policy. For additional coverage for natural disasters your home may be more susceptible to, an additional policy may be purchased.

Should you choose a policy with replacement cost or actual cash value?
Replacement cost provides you with the money it would take to replace items that were lost or damaged in a covered catastrophe; the actual value of the items lost is not taken into consideration. Actual cash value provides you with money for the actual value of property that was lost or damaged in a covered catastrophe; if an item has depreciated in value from the time you purchased it, you will receive money for its depreciated value—not the amount you originally paid for it. Replacement cost policies are generally more expensive than actual cash value policies.

What does homeowners insurance protect?
This will vary depending on the specific policy you purchase. It is important to compare multiple insurance carriers and make sure you understand the different levels of protection offered by each. Our experienced consultants can help you through this often confusing process.

How much coverage do you need?
How much coverage you needs depends on your unique situation. Contact our experienced consultants today to learn more about getting the right New Mexico property insurance coverage for your needs.

How high should your deductible be?
That depends on how much you can afford. While a higher deductible generally means you will have a lower premium, it’s important to make sure you can afford to pay your deductible should you ever need to make a claim on your insurance policy.

Do you qualify for discounts?
Many insurance carriers offer discounts to people who already have another type of policy with them (i.e., auto insurance). There may also be discounts for having an anti-theft security system in your home and other factors our experts can discuss with you.

At Cress Insurance Consultants, we will help you choose the best New Mexico property insurance policy and make sure you know exactly what’s covered—and what’s not. With over 25 years in the business, we know that every situation is unique and demands the advice of experts who can tailor a plan to your specific situation. At Cress Insurance Consultants, we do just that. We take the time to understand your particular needs so that we can offer you the best advice on what type of insurance coverage you need.

Call 505-822-8114 to speak with an expert about New Mexico property insurance today!

Cress Insurance Consultants
Large enough to handle all of your insurance needs. Small enough to care.