"The Rising Insurance Crisis in New Mexico Mountain Communities"
In this video, I'm tackling a big issue that's been affecting our mountain communities here in New Mexico, especially places like Red River and Angel Fire. I'm not talking about bears in the trash or construction delays - I'm addressing the growing problem of insurance policy cancellations and skyrocketing premiums that many of our homeowners are facing.
In this video, I break down:
How insurance companies have changed their risk assessment methods, moving from looking at whole regions to evaluating individual properties.
The new AI tools like Zesty.ai that are being used to determine insurability.
Key factors that are affecting your insurance premiums and whether you can get coverage at all. These include things like:
How close trees are to your house
What kind of roofing material you have
How well you maintain your yard
If your home is valued at over a million dollars
Whether you're on a paved road or not
Your claims history
Even your credit score
I don't sugarcoat the situation - it's challenging. But I do provide some practical advice that might help you keep your current policy, avoid cancellation, or secure new insurance if you've just bought a property.
Despite the tough news, I wrap up on a positive note. We've faced challenges before in our community, and I'm confident we'll get through this one too.
As always, if you have any real estate questions after watching, don't hesitate to reach out. I'm here to help!
Swan Realty 575-613-4243

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