Q. What is the New Mexico Property Insurance Program (NMPIP)?
A. The NMPIP is a “property Insurance pool” created by the NM Legislature in 1969 (see NM statues relating to Essential Property Insurance). We are supported by the property insurance companies licensed to do business in the state of NM. Insurance coverage is available for eligible property under basic coverage forms DP0001 and CP0099.
Q. Can the NMPIP write insurance on vacant property?
A. NO, the Plan of operations of the NMPIP does not allow any vacant property to be written by the NMPIP.
Q. Are there limits on the amount of coverage available?
A. Yes. The maximum coverage available is $750,000 on residential and up to $1,000,000 on commercial based on fire department protection. Please review the coverage limit chart under the "Guidelines" section of the website for all coverage limits.
Q. Does NMPIP write policies during an active wildfire?
A. No, NMPIP will not will not accept an application for new business for a property that is within 50 miles of an active fire. Once the fire is at least 90% contained, the application may be re-submitted.
Q. Does the NMPIP write premises liability?
A. No, the NMPIP coverage does not offer property liability nor can an additional fee be paid to add liability on to the policy.
Q. Can I choose NMPIP coverage instead of a “regular” insurance company coverage?
A. The NMPIP is a market of last resort with minimal coverage and if you can obtain coverage in a standard market, that is where you should go.
Q. What if my agent is not willing to help me get coverage through NMPIP?
A. Any insurance Producer licensed to write property insurance in the State of New Mexico can help you. If you are not able to find a Producer to be helpful we can assist you at NMPIP.
Q. How do I file a claim with NMPIP?
A. You should immediately notify your insurance Producer. Your Producer will take the claim information and forward it to us on the proper form. If you are not able to reach your Producer you may contact NMPIP.
