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 OSI Events Calendar View our calendar of events Does Everyone Need Renter’s Insurance? It’s always a good idea to take precautions to protect yourself and your belongings. But, not everyone needs renter’s insurance. Dependents, such as college students, are automatically covered under their parent or guardian’s policies. On average, a dependent is covered for up to 10 percent of the parent’s policy. Double check with your insurance agent regarding the specific provisions of your policy. Renters Insurance: To Purchase Or Not To Purchase It’s important to protect the things you value. Life insurance protects your loved ones, auto insurance protects your car and health insurance protects your good health. But what about renter’s insurance? As with any additional insurance purchase, it’s important to evaluate coverage and research your options. Here are some tips from the National Association of Insurance Commissioners (NAIC) to help determine if renter’s insurance is right for you. Replacement Coverage The Broad Form covers personal belongings against specific events, such as fire or theft. This is the most commonly purchased renter’s policy. Typical coverage under this form includes damage from fire, lightning, explosion, smoke, vandalism, theft and water-related damage from property utilities. Additional Coverage If you have unusually expensive items, such as fine jewelry or an art collection, you may consider adding a “rider” to provide extra coverage. Your agent can help you determine if an additional rider is needed. From Homeowner To Renters Homeowners insurance is for a home that is owned by the insured. This policy covers building, contents, other structures, additional living expenses, liability, and medical payments. Renter’s policy is for a person renting a home/apartment/Mobile Home. This policy covers personal belongings, additional living expenses, liability, and medical payments. Consumers who had homeowners’ insurance may not understand the difference between the two types of coverage. Talk to your insurance agent or company about the property you want to protect, and the property hazards you would like to be insured from. Your agent can give you coverage policy specifics based on your needs. Some of the most common misperceptions include: Renter’s insurance cost and benefits The average renter’s insurance policy costs between $15 and $30 per month. Bundling renters with Auto or Life can provide additional discounts for both policies. Replacing all your possessions if lost or being liable for an accident on your premises will cost much more. Renter’s insurance can cover everything in your home that is not attached to the structure (ie: clothing, toiletries, furniture, appliances, electronics, jewelry etc.) even a minimal number of items could add up to thousands of dollars’ worth of merchandise, which can all be covered in a basic policy. Your Landlord can only carry coverage for the building not your belongings Renter’s can protect against damage caused by tenant inadvertently (e.g., a kitchen fire or a plumbing mishap)
April 9, 2026 Bulletins CLARIFICATION OF THE AMENDED ORDER FOR REVIEW OF PREMIUM RATES OF COMMERCIAL MEDICAL PROFESSIONAL LIABILITY INSURANCE CARRIERS IN CASE NO. 2026-088 BULLETIN 2026-009: On March 19, 2026, the Superintendent issued the referenced Amended Order because of the significant changes made to the Medical Malpractice Act. The Superintendent anticipates that the significant changes made to the Medical Malpractice Act should result in less costly premiums for medical professional liability insurance coverage. To satisfy the requirements of the Amended Order […] Read More
March 18, 2026 Bulletins NOTICES REGARDING UNFAVORABLE CHANGES TO PUBLIC PROTECTION CLASSIFICATIONS AS REQUIRED BY INSURANCE CODE §59A-18-33, NMSA 1978 BULLETIN 2026-005: This Bulletin is issued as required by general OSI Bulletin No. 2024-022, except that the requirement in Bulletin 2024-022 that insurers must notify the PPC rating/advisory organization that notice was provided is waived for this Bulletin. The OSI has been notified by ISO, a rating/advisory organization, about a recent Public Protection Classification (PPC) survey involving […] Read More
