What are you looking for? Patients Debt Collection Protection ActReport Insurance Fraud in New MexicoInsurance TypesTitle InsuranceHomeowners InsuranceCondo InsuranceRenters InsuranceAuto InsuranceHealth InsuranceManaged Health Care ReviewGrievance Procedures RulesWhat Consumers need to know about Surprise BillingIndependent Review OrganizationBilling ExamplesHealthcare Provider ArrangementsMultiple Employer Welfare Arrangement (MEWA)Life InsuranceOther Types of Health InsuranceStay Ready for Disasters!FloodWildfireWind & HailWinter Storm Resources Mobile App: Home Inventory NAIC Homeowners Guide OSI Events Calendar View our calendar of events Coverage Types The following are examples of the types of coverage that are usually listed in your insurance policy. Damage to House Covers damage to the house, up to the face amount of the policy or the additional percentage of replacement cost. Depending on the estimated value of the home. For home that incurred a total loss. Other Structures Covers damage to other structures or buildings, such as a detached garage, work shed, or fencing. Personal Property Covers damage to, or loss of personal property. Personal property includes household contents and other personal belongings used, owned or worn by you and your family. Additional Living Expense Covers additional living expenses when incurred. This means that the policy covers the necessary living expenses up to the stated limit, incurred by the insured to continue, as nearly as possible, the normal standard of living when the house cannot be occupied due to a covered loss or if you were evacuated for a prolonged amount of time. Comprehensive Personal Liability Covers personal liability. This coverage protects you against claims arising from accidents to others on property that you own or rent. With a few exceptions, such as auto or boating accidents, it is an all purpose liability policy that follows you wherever you go. Medical Expense Covers medical expenses. Coverage is limited to an amount per person and per accident for injuries occurring on your premises to persons other than an insured, or elsewhere, if caused by you, a member of your family, or your pets. An important feature of this coverage is that payment is made regardless of legal liability. Limits of Coverage Your Responsibilities Flood Is Not Covered Water damage from a home’s plumbing or a leak in your roof is typically covered. However flood damage or destruction from ground-water or rain runoff and snow-melt is not. Flooding is a risk homeowners face everywhere in the U.S. and you must get additional coverage through The National Flood Insurance Program (NFIP) or private insurers in addition to your standard homeowners policy. According to Kiplingers, the average cost of flood insurance is about $700 a year. What Affects the Cost of Homeowners Insurance? Like auto insurance, the cost of homeowners coverage depends largely on where you live. Crime rates vary from community to community and so does the access to your local fire department, police department, and water supply. These factors help determine the protection class. Along with the value of your house, the following factors determine the rates you pay for homeowner’s coverage. Other considerations are the age of the home and local fire protection. New homes may qualify for discounts. Older homes may not qualify for preferred programs. Insurers may require older homes to have updated heating, plumbing, wiring and roofing. Your home’s distance from a fire hydrant and the quality of your local fire department determine your fire protection class. The amount of coverage you buy for your house, contents and personal liability will affect the price you pay. Your choice of a higher deductible will reduce the price for homeowners insurance. How Insurers Determine Your Premium Search Company Rates Increases By using SERFF you can search rates increase reported to OSI. Click here Questions to ask your agent Am I in your lowest-priced company or tier? If not, why? How can I get a better rate? What perils or coverage is excluded or limited in the policy? May I add the peril or coverage back into the policy? Discounts to ask about Smoke alarms, sprinkler system or other fire prevention systems Personal property identifying markings Approved burglar alarm or other security system Heating, electrical or plumbing updates Cancellation and Non-Renewal There are great differences between an insurance company canceling a policy and choosing not to renew it. Insurance companies can cancel a policy for the following reasons: You fail to pay the premium. You have committed fraud or made serious misrepresentations on your application. You willfully act in a way that increases any hazard the policy insures against. You violate any local fire, health, safety, building, or construction regulation or ordinance that increases hazards. A change in the risk occurs which substantially increases any hazard insured against. The insured party is convicted of a crime having as one of its necessary elements an act increasing any hazard the policy insures against. Non-renewal is a different matter. Either you or your insurance company can decide not to renew the policy when it expires. Companies shall give policyholders at least ten days notice prior to the date of cancellation and 30 days notice prior to the date of non-renewal. If you think the reason is unfair or want a further explanation, call the insurance company’s consumer affairs division. If you don’t get a satisfactory explanation, call the Consumer Assistance Bureau at 855-427-5674. myHome Scr.APP.Book app for home inventory: Homeowners and Renters Emergency Preparedness: Ready Gov Can’t Find Home Insurance? New Mexico Property Insurance Program is the underwriting association for the New Mexico F.A.I.R. plan (Fair Access to Insurance Requirements). The New Mexico FAIR Plan Act was enacted by the legislature in 1969 to provide essential property insurance to qualified applicants in the State of New Mexico who are unable to secure such insurance in the normal market. Under the FAIR Plan, consumers can purchase a policy at Actual Cash Value of the structure at an affordable rate. The Fair plan offers multiple limits of coverage from $225,000-$350,000 on occupied residential structures, and $250,000-$1,000,000 on Commercial structures. The New Mexico FAIR Plan operates like a small insurance company underwriting applications, issuing policies, and adjusting claims. This insurance is only available for dwellings and commercial property. The applicant may apply directly to the program for coverage or may choose to use a representative or an insurance agent to act on the applicant’s behalf. Although the plan may not appoint agents, any licensed property insurer in New Mexico can provide a quote and complete an application. Upon completion of the application the licensed agent will submit the information to the plan for underwriting. Should an issue with the structure arise during the underwriting process, the plan will notify the insured to allow time for corrections to be made. For more information, please go to: https://www.nmpropertyinsurance.com/ NM F.A.I.R. Plan – NM Property Insurance Program – Home
November 18, 2025 Bulletins CLARIFICATION ON COORDINATION OF BENEFITS (COB) PROVISIONS FOR MINOR CHILDREN BULLETIN 2025-015: This bulletin is issued in accordance with Sections 59-2-8, 59A-2-10, 59A-16-11(B) and 59A-46-31 NMSA 1978, and 13.1.2 and 13.10.13.11(B)(2) NMAC. The purpose of this bulletin is to clarify the position of the Office of Superintendent of Insurance (OSI) regarding allowable coordination of benefits provisions for a dependent child covered under more than one health insurance […] Read More
December 8, 2025 Announcements Mandatory Reporting Requirements Under the New Mexico Insurance Fraud Act NOTICE TO ALL LICENSEES, INSURERS, AND INSURANCE PROFESSIONALS Subject: Mandatory Reporting Requirements Under the New Mexico Insurance Fraud Act This notice serves as an official reminder that all insurers and licensed insurance professionals are required to comply with the mandatory reporting and cooperation requirements established under the New Mexico Insurance Fraud Act. These obligations […] Read More
November 17, 2025 News Releases NEW MEXICO OFFICE OF THE SUPERINTENDENT OF INSURANCE HOSTS TOWN HALL IN SILVER CITY ON WILDFIRE PREPAREDNESS, MITIGATION AND INSURANCE RESOURCES Contact: Elouisa Macias, Consumer Assistance Bureau ChiefEmail: Elouisa.Macias@osi.nm.gov Santa Fe, NM – On Wednesday, the Office of the Superintendent of Insurance (OSI) hosted a town hall in Silver City, NM related to wildfire preparedness and insurance resources. The town hall was moderated by Elouisa Macias, Consumer Assistance Bureau Chief, Civil Investigations Bureau at OSI. The […] Read More
