We are a market of last resort with minimal coverage. We write owner and tenant occupied residential dwellings, owners and tenant occupied mobiles homes, contents only and owner and tenant occupied commercial risks. We do not write vacant properties.
The NMPIP’S dwelling fire policies are written on form DP-0001 with a 7/88 edition date which is an actual cash value form. Please see residential forms under the Forms Tab. The basic deductible is $250.00 with a minimum premium of $75.00. We file our own rates which utilize a Loss Cost Factor that is built into the rate.
The Commercial policies are written on form CP 0099 with a 6/07 edition date which is also an actual cash value form. Please see commercial forms under the Forms Tab. The basic deductible is $500 with a minimum premium of $150.00 The Commercial policies are rated on the basis of Insurance Services Office (ISO) Class and Specific Loss Costs. We than apply our current Loss Cost Factor of 2.20.