Property Insurance

Automobile Property

NMSU-Owned Vehicle: The Evidence of Coverage for NMSU covers NMSU owned vehicles against physical loss or damage by a covered peril (i.e. collision, vandalism, theft, and fire) during the term of this coverage. Per occurrence, the claim will be subject to a $2,500 deductible for damage or a $5,000 deductible for theft.

Rental Vehicle in the Scope of NMSU Business: Physical damage for rental cars is covered under the property coverage and is subject to the $2,500 vehicle deductible. Liability coverage for rental vehicles is self-insured, paid out of the Public Liability Fund administered by State of NM Risk Management Division (RMD). The State will provide coverage where the State or employee is responsible due to the Tort Claims Act and when the State is legally responsible.

Personal Vehicle in the Scope of NMSU Business: The property coverage is extended to cover vehicles owned and operated by an employee acting within the scope of their duties; however, with conditions:

  • NMSU must certify in writing that the employee was acting within the scope of their duties.
  • The Claim was first tendered to the employee’s personal vehicle insurance carrier.
  • Only upon certification by NMSU that these conditions have been satisfied, may a vehicle loss claim be submitted.
  • Coverage is extended but reduced in an amount commensurate with the degree of negligence attributable to the employee as determined by the State of NM RMD.
  • The employee will be responsible for the deductible of their personal insurance policy and the NMSU department will be responsible for the deductible required by this property coverage. Deductible of $2,500 for damages and $5,000 for theft.

Claim Submittal Information:

  • In the event of physical loss or damage, complete the Notice of Claim: NMSU Automobile Loss Form and submit to NMSU EHS & RM as soon as possible after occurrence, but must be within 5 days of occurrence.
  • The submitting department will be responsible for deductible cost.

University Property

General NMSU Owned Property: The Evidence of Coverage for NMSU covers NMSU-owned buildings and its contents, NMSU-owned miscellaneous items and property of other third parties in the care of NMSU. Per occurrence, the claim will be subject to a $2,500 deductible for damage or a $5,000 deductible for theft.

Fine Arts: This covers paintings, etchings, drawings, photographs (including their frames, glass, and shadow boxes), rare books, manuscripts, rugs, tapestries, statuary and other verified works of art or rarity of historic value or artistic merit.

This coverage is insured through separate insurance policies purchased by the State of NM Risk Management Division (RMD). This stand-alone coverage is subject to a $50,000 deductible.

Boiler & Machinery (Mechanical Breakdown): Boilers are covered under a combination of self-insurance administered by State of NM RMD and separate insurance policies purchased by State of NM RMD. Arrangements with the boiler insurance policy underwriters require the insuring company to make boiler inspections at all insured locations. Per occurrence, the claim will be subject to a $2,500 deductible for damage or a $5,000 deductible for theft.

Claim Submittal Information:

  • In the event of physical loss or damage, complete the Notice of Claim: NMSU Property Damage or Loss Form and submit to NMSU EHS & RM as soon as possible after occurrence,but must be within 5 days of occurrence.
  • The submitting department will be responsible for deductible cost.