Home Insurance in Clovis, NM
Protect your home when you choose home insurance in Clovis, NM, with the help of VIU by HUB.
Clovis, NM, is a medium-sized city and home to nearly 38,000 people who enjoy such entertainment options as the Blackwater Draw Site. People enjoy living in the area because the cost of living is 25.3% lower than the national average.
The median home value in the city is $144,600, which is nearly $200,000 less than the national median of $338,100. Home appreciation is up 12.5% compared to the national average of 8.27%.
Insurance in Clovis is necessary to protect your home, the belongings in it and the property surrounding it. The average cost of homeowners insurance in Clovis is $1,890 per year compared to the national average of $1,582 per year.
Insurers consider various factors when determining how much your policy will cost. Area property crime is one of the biggest. People in Clovis may pay more for home insurance because of the high property crime rate. There are 78.2 reported incidents per 100,000 people compared to the national average of 35.4 reported incidents per 100,000 people.
Weather is another factor. Clovis is a dry city compared to the rest of the country, getting only 18 inches of rain per year compared to the national average of 38 inches. You likely won't need to worry about floods, but you do need to consider the likelihood of a fire since the area is so dry.
Insurers also consider the home itself. They'll factor in the age of your home, the materials it's made from, whether you have any security features and how well-maintained it is. The better maintained and more secure your home is, the less you'll pay for insurance.
Finally, insurance agencies look at you. They consider your credit score, whether you've filed property claims in the past and what kind of possessions you have in the home.
Naturally, the biggest protection home insurance in Clovis provides is repairing or rebuilding your home after a covered disaster such as a fire. If your home is older, ensure you have a policy that can support the rebuild with modernized materials and electrical systems. Remember, freestanding structures such as sheds or fences are not protected unless you purchase additional coverage.
Insurance protects the belongings inside your home as well. This includes furniture, appliances, electronics, clothing and jewelry. The coverage is typically 50-70% of your insurance policy, so a $300,000 policy with 50% coverage would protect your belongings for up to $150,000. The coverage even protects off-premises, which means you can file a claim if you lose something while away from home.
Your policy also covers personal liability for damage to another's property or injuries caused by you or someone in your household. Your policy will cover if you accidentally break something at someone else's home. Do you have a dog? It's covered, too. If it bites someone or otherwise injures them, you are protected. Experts recommend carrying at least $300,000 in liability.
Finally, your policy provides reimbursement if you find yourself displaced during a rebuild. The reimbursement covers hotels, restaurant meals and other incidental costs, but remember you'll have a strict daily limit unless you pay for more coverage.
Finding home insurance in Clovis doesn't need to be stressful. VIU by HUB provides a platform that makes it easy to receive information about policies in about 30 seconds. You'll also have access to experienced insurance advisors who can answer your questions and help you sync your policies.
This information is intended for general informational purposes only and is not intended to constitute legal advice.
