The New Mexico Office of Superintendent of Insurance published a bulletin announcing the approval of the provisional residential property limits for the New Mexico Property Insurance Program (NMPIP).
The superintendent has previously provisionally approved the limits, which took effect on March 8, 2025, and expired on June 20, 2025. After discussion with the Governing Committee, the Superintendent officially approved the limits, which are as follows:
The maximum limit per fire division that can be insured under the plan for 1-4 family dwellings is $750,000 for Protection Class 1-7 and $500,000 for Protection Class 8-10. If an emergency order declaring a catastrophe is issued, the limits remain the same.
The limits are effective as of July 7, 2025, and will remain in effect unless otherwise changed by the Governing Committee and the Superintendent.
The bulletin can be found here.
Ray Sugrim
Ray Sugrim is an Insurance Editor with FC&S Expert Coverage Interpretation, a division of National Underwriter Company and Arc Network. Ray is responsible for helping develop and edit content for subscribers. Ray is a St John’s University graduate with a degree in Risk Management & Insurance and is a CPCU candidate.