Home Insurance in Roswell, NM
Relax at home with peace of mind when you purchase home insurance in Roswell, NM, with the help of VIU by HUB.
Known as the UFO capital of the world, Roswell, NM, is home to more than 48,000 people spanning 15 neighborhoods. The ethnically diverse city is considered an excellent place to live because of its eclectic culture and history. In addition to enjoying unique museums, gorgeous parks and year-round, family-friendly festivals, residents enjoy a cost of living that is 28.8% lower than the national average.
The median home value in the city is $152,000, nearly $200,000 less than the national median price of $338,100. However, home appreciation is lower at 4.31% compared to the national rate of 8.27%. The average home in the city is 51 years old, meaning finding home insurance in Roswell, NM, is necessary.
The average cost of home insurance in Roswell, NM, is $1,570 per year, just under the national average of $1,582. However, several factors determine how much you'll pay, including the crime and weather in your area. Roswell's property crime rate is much higher than the national average at 68.8 on a scale of 1-100 compared to 35.4, so expect to pay more for protection. The dry, hot weather means Roswell residents are more at risk for fires, which may increase your insurance premiums.
One of the biggest reasons for having home insurance is to repair and rebuild if fire, lightning, vandalism or other covered disasters occur. Keep in mind that earthquakes, floods and poor home maintenance are not covered by insurance policies unless you purchase special protection. Additionally, you'll need extra coverage to protect unattached structures such as sheds or freestanding garages.
Your insurance doesn't just cover the house itself. It will also cover an average of 50-70% of the amount of your policy to replace appliances, electronics, furniture, clothing and other items in your home. Keep in mind that you may need additional coverage if you own a lot of high-priced items. You can even purchase policies that protect your jewelry when you wear it away from home.
Many home policies also cover personal liability for damages or injuries that someone sustains on your property or that you cause when you're away from home. Even your pets are covered, so you'll be protected if your dog bites or jumps on someone and injures them. Experts recommend having at least $300,000 worth of liability coverage in your policy.
Finally, your homeowner's policy should include additional living expenses. This coverage provides you with a daily amount of money you can use to rent a hotel room or otherwise keep yourself comfortable if your home needs to undergo extensive repairs or a rebuild.
You may be able to lower your home insurance premium in several ways. The easiest way to do this is to raise your deductible. The higher your deductible, the lower your monthly payment will be. It also helps to bundle home and auto policies. You can do things at home to help as well. Modernize heating, plumbing and electrical systems to reduce the risk of fires, and add a security system to your doors and windows to make it harder for people to break in.
Take the guesswork out of purchasing home insurance in Roswell, NM. Use VIU by HUB to get quotes from insurers in your area in under 30 seconds. Choose a policy, and an advisor will call you to answer questions and help you finalize your purchase with your chosen agency.
This information is intended for general informational purposes only and is not intended to constitute legal advice.
