Must-Have Home Insurance Coverages for Ruidoso, NM Homeowners

Ruidoso, NM residents, surrounded by the beauty of the Lincoln National Forest, understand the importance of protecting their homes from unexpected mishaps and incidents that can lead to devastating economic losses. 

New Mexico residents have unique home insurance needs. 

Insurance professionals at Family Insurance Associates are your trusted local home insurance providers who can help you identify your needs and choose custom solutions like earthquake protection, wildfire protection, and liability coverage that can protect your home and family. 

Must-Have Insurance Coverage for New Mexico Homeowners

Earthquake Insurance 

Nearby states experiencing the damaging physical and economic effects of ground-shaking earthquakes understand the importance of having a comprehensive policy with earthquake insurance coverage. Earthquake insurance can provide an extra layer of protection against unexpected quakes. 

Flood Insurance 

The city of Ruidoso is in close proximity to a few large bodies of water, including the Rio Ruidoso, that can overflow and cause local flooding and damage to homes. 

Wildfire Coverage

Wildfires can happen in the dry seasons that occur in the areas. Ruidoso residents can protect their homes from wildfires’ unpredictable and damaging nature with comprehensive home insurance policies covering these natural disasters. 

Windstorm Protection 

There is no need for local area residents to be blown away by the damaging effects that windstorms can cause to roofing, shingles, and personal property when they have comprehensive home insurance with windstorm protection. 

Comprehensive Home Insurance Quote

Don’t wait until the unexpected happens and you find yourself at an extreme financial disadvantage and having to pay out-of-pocket repair costs for damages related to theft, natural disasters, flooding, and other home-related mishaps. 

Contact the friendly professionals at Family Insurance Associates to learn about your options for coverage and get a free insurance quote today!

Why Keep Homeowners Insurance Once My Mortgage is Paid?

Regular mortgage payments can sometimes strain the budget, especially if your payments are high or you’ve opted for balloon payments. Regardless of your specific situation, once your mortgage has been paid off, you may consider getting rid of your homeowners’ insurance. However, you might want to rethink things and keep this valuable insurance. 

Reasons to Keep Your Homeowners’ Insurance

Homeownership is an investment, and most people want to protect their investments. One powerful way to protect your investment is to maintain adequate insurance coverage. A homeowner can never predict when someone might sue them because they were injured on their property. This could be very costly; without insurance, you would be required to pay the person out-of-pocket. Furthermore, your home could incur unexpected damage anytime, and your policy would most likely cover repairs and other losses. Could you imagine paying out of pocket to replace all your belongings because a fire has destroyed everything? That would be catastrophic because most people don’t have much cash. 

What to Do if You Can’t Afford to Keep Your Insurance

If you feel your insurance rates are no longer affordable, you have options. First of all, you could switch insurance agencies. Many agencies, including Family Insurance Associates, provide insurance coverage for the Ruidoso, NM area. Also, some insurance agencies will offer a discount if you combine all your insurance with one company. This means that you would purchase auto, life, homeowners, and any other insurance from the same company. 

As you can see, it is wise to keep your homeowners’ insurance, even once you’ve paid off your home. If you feel your rate is too high, then give us a call at Family Insurance Associates. We proudly serve the Ruidoso, NM area and are available to provide you with a quote for our homeowners’ coverage, hopefully enabling you to save money today. 

Understanding Potential Coverage Gaps in Your Home Insurance Policy in Ruidoso, NM

Are you a homeowner in Ruidoso, NM? If so, the experts at Family Insurance Associates are here to help you understand potential coverage gaps in your home insurance policy. You must review your policy regularly to protect your home and belongings against unexpected events.

Know Your Property Value and Limits

When it comes to home insurance, there is no one-size-fits-all solution. Different homeowners have different needs when it comes to their policies. You should know your property’s current value and ensure your policy covers it up to that amount. In addition, you should also know the limits of your coverage and ensure they match the value of your property and belongings. 

Understand Special Situations and Exclusions for Home Insurance

Every home insurance policy has unique situations and exclusions that standard policies may not cover. For example, you may need additional coverage for these events if you live in an area prone to natural disasters such as flooding or earthquakes. Additionally, items such as jewelry or artwork may require extra protection or a separate rider if included in your policy. 

Check for Additional Coverage Options

It would be best to consider any additional coverage options that may be available with your existing policy. This could include things like personal liability insurance or identity theft protection services. These can provide additional peace of mind if something happens while on vacation or away from home for extended periods, providing an extra layer of security while away from home. 

If you have any questions about your home insurance policy coverage, don’t hesitate to contact the experts at Family Insurance Associates. We are here to help ensure that you and your family are adequately protected in Ruidoso, NM.

How Much Home Insurance Do I Need?

If you have bought home insurance, it’s a great way to protect your valuable asset. However, if you want optimal coverage, you should buy the right amount of coverage. So, do you have sufficient home insurance? While each homeowner’s needs vary, Family Insurance Associates in Ruidoso, NM has a guide to help you determine the amount of coverage you need.

How much dwelling coverage should I have?

You should invest in enough coverage to rebuild your home from scratch. Typically, if your house is totally destroyed, your insurer will pay the house’s actual value after removing the depreciation. If you don’t want to dip into your pocket after a total loss, you must insure your home against the replacement cost.

You need to talk to your insurance agent for advice if you don’t know about your home’s replacement cost. We have tools to help you get the correct value for your home.

How much content coverage do I need?

Like dwelling coverage, purchase enough content coverage to replace all your assets in the worst-case scenario. However, to ensure everything in your possession has been insured, conduct an inventory count from one room to another to ensure nothing has been left out.

How much liability coverage do I need?

Most homeowners have liability coverage of $100,000. This amount may be sufficient for minor liability claims. However, if you need higher liability coverage, consider liability coverage of about $300,000. But should you need even higher coverage, we advise our clients to consider umbrella insurance or excess liability coverage.

Still not sure you have everything you need to buy the right amount of home insurance? Please reach out to Family Insurance Associates. Our team of experts will analyze your current insurance needs to determine the amount of insurance required.

Can I customize my home insurance?

Can I customize my home insurance?

When you visit Family Insurance Associates serving Ruidoso, NM for home insurance, we want you to know your choices. Home insurance offers a breadth of choices because no two homes or homeowners are the same.

Broadly, home insurance offers eight types of policies, including dwelling (HO-1) and historical home (HO-8) insurance. It also offers options for renters, renters’ insurance (HO-4), and options for owners of RVs and trailers (HO-7).

Most people purchasing home insurance purchase a standard policy (HO-3), so named because it gets purchased most often. It covers the home against most perils and protects the structure and its contents. A dwelling policy covers fewer perils. An HO-5 policy goes beyond an HO-3 policy to offer open-peril coverage, also called all peril coverage.

If you want something between dwelling insurance which covers 10 perils and the all peril coverage of HO-5, you choose an HO-2 policy. It covers 16 common perils, which provides pretty broad coverage, but is not as complete as an HO-5.

You’d only purchase an HO-6 policy if you buy a condo or apartment. It only covers damage inside your home because the property owners’ association’s or property management company’s insurance covers the public areas. Like most home policies, it provides liability coverage that applies to accidents occurring in your home.

Only older homes or architecturally significant homes would qualify for an HO-8 policy. It covers most perils, and its coverage acknowledges how tough it would be to replace the uniqueness of your home.

Regardless of which type of domicile you chose to purchase or rent, let Family Insurance Associates serving Ruidoso, NM help you insure it. Call us today.

Does Homeowners Insurance Cover Tenants?

Virtually all homeowners hold some homeowners’ insurance policy to protect their property. But, is your homeowners’ insurance cover adequate when you rent or lease your property? Ideally, a standard homeowner insurance cover offers ideal property coverage, albeit limited, and it’s for this reason that the landlord may need a landlord policy. The tenant may need a renters insurance cover.

The homeowners’ insurance cover held by the landlord protects the building’s structure, adjacent and adjunct structures, and the landlord’s personal belongings within the insured piece of property. The coverage also offers personal liability protection to occupants of the home. But the coverage benefits don’t extend to temporary residents {renters/lessee} and their belongings.

The insurance coverage deficiencies in a homeowners’ insurance cover necessitate the acquisition of extra insurance covers that can offer more protection to the landlord’s property, the renters, and the belongings of the temporary residents.

These extra cover protections may come in the form of renters’ insurance and landlords’ insurance. Read on to learn why these two covers are vital.

Why Should a Landlord Get Landlord Insurance to Complement the Homeowners Insurance Cover?

Standard homeowners’ insurance coverage for rental property offers limited protection for the landlord’s property and occupants.  It thus becomes necessary for a landlord to have some landlord insurance that can provide more protection. The cover may help when rental units get damaged and declared unlivable after a catastrophe. The cover may also help when someone gets injured while on the property. 

The landlord insurance cover is crucial because it provides coverage for property damage, loss of income, and liability insurance. The cover protects against unintended tenant damage, but it doesn’t cover normal wear and tear and intentional damage. 

Why Should Renters Get Renters Insurance?

The homeowners’ insurance acquired by the landlord doesn’t offer protection to the renter’s property or the renter. As such, a renter needs some renter’s insurance to cover for personal liability and property damage that may occur to the renter’s belongings on the property. Though this isn’t a state rule, it’s the only way tenants can secure their belongings.

Get an Updated Homeowners Insurance Policy Today

If you’re in Ruidoso, NM, you should visit Family Insurance Associates to get your updated homeowners’ insurance cover. At Family Insurance Associates, we provide updated home insurance policies to all Ruidoso, NM, residents. Check out our website to learn more.

Things home insurance doesn’t cover

Your home insurance is a safety net that protects you from many of the bad things life can throw at you. Buying a home for most people is the single largest investment you ever make. Your financial security may rest on the equity you build in this home. Home insurance offers a lot of protection from many hazards, but unfortunately, it doesn’t protect you from everything that can go wrong. At Family Insurance Associates in Ruidoso, NM, we are a full-service independent insurance agency. We are here to help you with all your insurance needs. 

Expensive jewelry and art

Your basic home insurance policy has set limits on the amount of money it will pay on a claim for jewelry and art. The amounts are not high and if you have either works of art or fine jewelry you should talk to your insurance agent to make sure you have adequate coverage. Get an appraisal to show the amount of insurance you need to be protected. 


Floods cause billions of dollars of devastation every year. But homeowners insurance doesn’t cover flood damage from water originating outside the home. Experts say one inch of water can cause more than $25,000 in damage. Imagine what a foot of water can do. The good news is you can purchase flood coverage if you live in a community that supports the National Flood Insurance Program. 

Owner neglect

As a responsible homeowner, it is up to you to maintain your home and repair and replace things as needed. If you end up with damage due to your lack of maintenance, your home insurance will not cover your claim. 

When you need insurance assistance, at Family Insurance Associates in Ruidoso, NM we will be there for you. Contact us if you have questions about home insurance or any other insurance needs you may have.

Common Mistakes Homeowners Make When Shopping For Home Insurance

Buying your home is probably the most significant investment in your life. Therefore, you want to make sure that this investment is well protected. The best way to protect your property is to purchase home insurance. However, choosing the right policy might be difficult, and many homeowners make inevitable mistakes. It is crucial to know these mistakes, so you can avoid them and make the right decision: 

Purchasing The First Policy That Comes

One of the biggest and most common mistakes homeowners do is getting the first policy that they found. It is important not to rush and compare different policies from several insurance companies. Even if you believe you have found a perfect plan, it is always worth checking other insurance companies and see what they offer. 

Not Getting Enough Dwelling Coverage

Dwelling coverage is a specified amount of money that you will receive to cover the structure of your home. Ideally, dwelling coverage should be enough to rebuild the house thoroughly. It is recommended to discuss it with an insurance agent who will be able to help you to choose the right dwelling coverage.

Not Insuring High-Value Belongings 

A standard home insurance policy covers personal belongings only up to 50-70% of their total value. Therefore, if you have some expensive stuff, such as antiques, artwork, and jewelry, you will need to buy an additional endorsement to make sure that these valuable items are protected. 

If you would like to get a perfect home insurance policy that will address your needs and budget, you need some professional help. The insurance company Family Insurance Associates serving Ruidoso, NM, and other surrounding areas is ready to help you to avoid the mistakes mentioned above and find a great home insurance plan. Give us a call today to talk to one of our insurance agents and learn more about the options available. 

Does Your Dog’s Breed Affect Your Homeowner’s Insurance?

Your pet can be a big part of your family. But, is it possible that your choice of dog breed can affect the homeowner’s insurance options on your Alamogordo or Ruidoso, NM property? Speak to an agent at Family Insurance Associates to understand how these facts on dog breed might impact your personal situation.

How Your Dog Breed Determines Your Homeowner’s Insurance Options

If your dog destroys your neighbor’s property or injures someone, your homeowner’s insurance policy is responsible for paying claims. Over 1/3 of home insurance claims in 2017 were related to injuries caused by dogs. That means insurance companies were hit for more than $700 million USD in damages. Insurance companies choose to lower their liability by denying coverage for families with high-risk breeds.

Each insurance carrier has their own method of verifying your pet’s acceptability. Some simply refuse any dog of a certain breed, regardless of your circumstances. Some, however, do a case-by-case evaluation. Information like formal training courses, history of violence against humans or other animals, and designations such as support animals may be taken into account.

What Happens With Potentially Dangerous Pets?

If your insurance carrier thinks your pet represents a higher risk, there are a number of ways they may respond.

  • A dog exclusion form states that you own a dog but the insurance company is not liable for its actions. That means your pet can live with you, but you’ll have to pay for any damages they cause.
  • Your insurer could refuse to provide coverage for your property. Any active policies may be revoked.
  • Some companies increase your premiums to provide extra protection for themselves against possible problems.

If your company doesn’t want to cover your dog, a dog liability policy can replace that portion of your homeowner’s insurance.

Contact Family Insurance Associates with your questions about dog breeds and your Alamogordo or Ruidoso, NM area homeowner’s insurance.

Are Security Cameras Enough to Protect My Home?

Home security systems can include a wide variety of devices but some experts believe all you really need is a good video surveillance system with a couple of extra features like still image capture and two-way voice communication. If you live in the Ruidoso, NM area and are looking into home security systems, the agents of Family Insurance Associates have helpful information you may need. Buying the right surveillance equipment will allow you to accomplish your goals without having to install different devices.

Eyes and Ears On Your Home

A video surveillance system allows you or a professional monitoring center to have eyes and ears on your home at all times. What this means is that you will have 24-hour coverage any time that a motion detector sends an alert that someone is on your porch or near your video cameras. This not only gives you ample opportunity to act, but it also will help you identify the person on your property.

Two-Way Voice Communication

Many security cameras, including the new video doorbell viewers, have two-way voice communication capabilities that allow you to talk to the person in real-time. This gives you an opportunity to keep them engaged long enough to get a good picture as well as get additional information as to why they are there.

Strategically placing your cameras so that all of your entrances are covered can help you stop a break-in before it is attempted. Video surveillance cameras have many features that can accomplish the majority of your security goals. The agents at Family Insurance Associates serve the residents of Ruidoso, NM and are always available to provide the information you need to make an informed decision when it comes to buying the best home security cameras on the market. Call today!