Between extraterrestrial sightings, a hotly contested debate over chili preferences and a minor league baseball team with a name from “The Simpsons,” it’s safe to say New Mexico is unlike any other state in the nation.
The Land of Enchantment’s multicultural population, desert climate and inspiring landscape have attracted 2 million residents and 630,000 homeowners. Having some of the lowest property taxes in the country and relatively affordable home prices (which currently average $224,900, according to Zillow) probably doesn’t hurt either. When compared to states like Florida and California, there is also a low risk for natural disasters.
Of course, no state is immune to weather-related property damage. The Federal Emergency Management Agency has declared 83 disasters in New Mexico since 1953. Wildfires and floods are the most common, followed by severe storms. According to the Insurance Information Institute, there were 11 tornadoes in 2017 alone. Drought and hurricane have happened far less frequently, but they do occur.
Other hazards also plague New Mexico residents. Unfortunately, both petty and grand larceny crimes are on the rise — including violent ones. In fact, a 2018 study using FBI data found that New Mexico tops the charts of most burglarized states and Albuquerque was recently named the robbery capital of the U.S.
These dangers, coupled with a requirement from most mortgage lenders, make getting comprehensive homeowners insurance all the more important. As of today, New Mexico residents can get better, cheaper and more modern coverage. By choosing Hippo, homeowners can feel confident that their home and possessions will be safe if catastrophe strikes.
Better yet, the Hippo team does everything we can to prevent problems from happening in the first place. New customers receive smart home products that identify potential dangers before they wreak costly havoc. We also use advanced technology and public data to find out when our customers’ homes are vulnerable to damage. For instance, if we saw that a fire was headed your way or that your roof had a hotspot, we can call to notify you and provide helpful tips.
Our advanced risk assessment technique and machine learning integration provides a smoother, quicker onboarding process, too. While some insurance companies brag about providing a quote in 15 minutes, you can get a quote in just 60 seconds at myhippo.com. And unlike many other insurtech companies, we have found a way to marry technology with human compassion.
The concierge representative that helps you file your claim remains your point of contact throughout the entire process. They can help you book accommodations, contact repairmen and better understand your coverage. AI chatbots may be flashy but they can’t provide the empathy you need and deserve during a difficult time.
We at Hippo offer wide-ranging coverage as well as superior service. Traditional property and liability coverage are included but we’ve also added 10 protections our competitors tend to leave out, like major system, domestic worker, short-term rental and home office coverage. While most policies only include $2,000 of coverage for electronics, ours include a $8,000 minimum.
Our customers can even tailor policies to cover other specific items (like a generator or expensive jewelry) so they have custom peace of mind. Plus, Hippo policies are based on the replacement cost of a home rather than its market value, meaning policyholders are better protected against inflated repair and reconstruction costs.
To keep our costs competitive, we’ve eliminated excessive coverage for outdated items like pewter and paper stock certificates. We also utilize big data to more accurately calculate risk profiles. As a result, homeowners that switch to Hippo save an average of 25% on their premiums. Even in New Mexico, which has the 32nd highest average annual premium for HO-3 policies in the country, that can mean savings of over $245 each year! That can go a long way toward tickets to the Bandelier National Monument, Sitting Bull Falls, Georgia O’Keeffe Museum or Santa Fe Opera.
We also reward homeowners with significant discounts whenever they make their homes safer, whether by installing a stronger security system, buying a fire extinguisher or fixing up the roof. With premiums on the rise nationwide, it’s never been more important to find a policy that’s right for your family and your wallet.
If you’re ready to save on your annual premiums, or just want to learn more about New Mexico homeowners insurance, head straight to our site or give us a call. Between years of experience and a network of trusted partners, our team is ready with the answers to your questions and help you better protect your home. If Hippo is the right provider for you, we’ll even help you make the switch.