Best Home Warranty Companies in New Mexico (2024)
A home warranty protects your wallet if a major system or appliance fails unexpectedly. You pay a monthly or annual premium plus a small service call fee for the repair, and your home warranty provider takes care of the rest. Homeowners looking for peace of mind in New Mexico can check out our list of top home warranty companies below.
Liberty Home Guard is our top pick for New Mexico homeowners due to its positive customer ratings and trustworthy reputation. Continue reading to learn about this company and our other top recommended providers.
Key Takeaways
New Mexico’s Top 5 Home Warranty Companies
When choosing the best home warranty companies in New Mexico, we took an in-depth look at plan specifics, pricing, unique benefits, and more. The highest-rated New Mexico home warranty companies are the following:
Summary of the Best Home Warranty Companies in New Mexico
Monthly Cost
Service Fees
Customer Support Options
Response Time
Pros
- Extensive add-on catalog
- 60-day workmanship guarantee
- Accessible customer support
- High coverage caps
- Preexisting coverage included
- Bonus discounts on maintenance services
- Higher coverage for high-end appliances
- 90-day workmanship guarantee
- Service call fee rolled into annual premium
- Low-cost plan options
- High HVAC coverage
- Free roof leak protection
- Unlimited system coverage
- Solid add-on catalog
- Optional upgrade for preexisting condition coverage
Cons
- Reviews mention low claim payouts
- Low coverage caps for electrical and plumbing
- Higher costs for comprehensive coverage
- Smallest add-on catalog
- Higher service fee for high-end appliance repairs
- No workmanship guarantee on repairs by out-of-network technicians
- Low coverage caps for other items
- No service call fee flexibility
- No AC coverage in the lowest plan
- Excludes essential appliances from its lowest plan
Summary
We recommend Liberty Home Guard for homeowners who need coverage for multiple HVAC systems and extensive add-on customizations.
We recommend American Home Shield for homeowners who need comprehensive coverage for older homes.
We recommend Elite Home Warranty for homeowners who want fully customizable plans and extensive add-on coverage options.
We recommend Select Home Warranty for homeowners who need affordable HVAC-only coverage.
We recommend First American Home Warranty for homeowners who need robust plan options for HVAC and high-end appliances.Â
Promotions
Rating Categories
Coverage
Value
Trustworthiness
Plan Transparency
Customer Support
Flexibility
Company | BBB Rating | Monthly Cost in NM | Service Fee | Visit Site |
---|---|---|---|---|
NR | $49–$59 | $65–$125 | VISIT SITE | |
B | $59–$119 | $100–$125 | VISIT SITE | |
A+ | $44–$58 | $70 | VISIT SITE | |
B- | $44–$47 | $60–$75 | VISIT SITE | |
B | $47–$87 | $75–$125 | VISIT SITE |
Note: We based the pricing information in this table and throughout the article on sample quotes we obtained for a 2,119-square-foot, single-family home in Albuquerque, New Mexico. Your pricing may vary depending on your home’s location, size, type, and plan selections.
How Much Does a Home Warranty Cost in New Mexico?
In New Mexico, a home warranty costs an average of $61 per month, or $546-$1,068 annually, according to quotes we received from various companies for New Mexico homes. Your final price will vary depending on your plan, service fees, location, and additional coverage options you choose.
Reviews of the Best Home Warranties in New Mexico
How Do Home Warranties Work?
If one of the covered items in your contract breaks down, simply file a claim with your provider either online or over the phone. Once your claim has been approved, a technician will be sent to your home for diagnosis and repair and you’ll pay the set service fee. The provider usually covers the appliance repair or replacement costs unless they’re more than the coverage cap, in which case the homeowner pays the remaining amount.
Annual Home Warranty Cost Calculator
Our team created a calculator to break down the estimated annual cost of owning a home warranty. Enter your monthly premium, service call fee, and estimated number of claims to see your projected annual cost. It’s best to request a quote directly from one of our recommended providers, as annual costs and service fees vary between them.
Appliance | Average Repair Cost | Average Replacement Cost |
---|---|---|
Dehumidifier |
$50–$200 |
$1,300–$2,800 |
Microwave |
$50–$400 |
$60–$2,000 |
Dishwasher |
$50–$500 |
$400–$3,000 |
Exhaust Fans |
$16–$300 |
$250–$950 |
Electric Range |
$100–$500 |
$230–$3,000 |
Gas Range |
$100–$500 |
$230–$3,000 |
Dryer |
$100–$400 |
$450–$2,300 |
Oven |
$100–$430 |
$400–$3,000 |
Washer |
$50–$450 |
$400–$2,300 |
Freezer |
$90–$500 |
$160–$2,900 |
Refrigerator |
$40–$350 |
$200–$5,000 |
Note: The annual cost figure generated by our home warranty calculator is not an indication of a company’s actual plan cost, as annual costs and service fees vary based on your plan selections and your home’s size, type, and location.
How Long Do Home Warranty Contracts Last?
Most home warranties last for a year— you can pay the entire cost up-front or split the cost into monthly installments.
Our Conclusion
Liberty Home Guard, American Home Shield, and Elite Home Warranty are the best options for New Mexico homeowners. Before signing up for a plan, we recommend getting quotes from at least three home warranty companies to get your price since the estimates will vary based on where you live and the type of coverage you select.
Frequently Asked Questions
Do home warranties cover TVs?
A home warranty doesn’t usually provide coverage for electronics, like televisions. However, companies like American Home Shield offer an electronics extended warranty that protects televisions, laptops, computers, and more.
Can you buy a home warranty after something breaks?
You can buy a home warranty after something breaks, but that breakdown won't be covered. The system or appliance in question must be functioning and installed at the time of purchase. If the covered item breaks down due to normal wear and tear after your coverage has kicked in, the repair will be covered under your warranty.
Our Rating Methodology
We back up our home warranty ratings and recommendations with a detailed rating methodology to score each provider objectively. We conduct research by speaking with company representatives, requesting quotes, analyzing sample contracts, and conducting focus groups and consumer surveys.
We score each provider against our review standards, which include four comparison categories: coverage, value, trust and transparency, and availability and service. We rate each provider across 31 factors within these categories. Each factor is assigned a point value based on its importance to a homeowner, totaling 100 points. We then convert the final scores to a 5-star rating.
Here’s a breakdown of our weighted factors:
- Coverage (40%): We scored coverage based on included home systems and appliances, add-on options, and unique benefits. We also compared coverage caps and policy exclusions.
- Additional coverage items
- Annual coverage cap
- Home systems coverage
- Major appliances coverage
- Obstructed wall coverage cap
- Value (30%): We compared the coverage level received to monthly pricing to determine plan value. We considered premium pricing, service fees, and flexibility in customizing plan costs.
- Average monthly cost
- Cost flexibility
- Lowest service fee
- Trust and Transparency (16%): We evaluated each company’s reputation using the Better Business Bureau ratings and customer reviews on third-party review sites. We read through plan change policies, workmanship protections, and sample contract availability.
- Brand reputation
- Policy change flexibility
- Sample contract availability
- Workmanship guarantee length
- Availability and Service (14%): We award higher scores for faster claim processing and response times. We also considered service technician policies, including options to choose your technician.
- Claims process
- Guaranteed response time
- Service flexibility
To share feedback or ask a question about this article, send a note to our Reviews Team at reviews@thisoldhousereviews.com.