N.M. Admin. Code § 18.3.3.10

Current through Register Vol. 35, No. 19, October 8, 2024

Section 18.3.3.10 - MINIMUM INSURANCE COVERAGE

A.Passenger services: Motor carriers of passenger services must maintain the minimum levels of coverage required by 49 CFR 387.33, except that taxicab services utilizing vehicles with seating capacities of six or fewer passengers (including the driver) must maintain a combined single-limit policy of one million dollars ($1,000,000) per occurrence. This taxicab exception to the minimum coverage expires on June 30, 2025. Taxicab services failing to ensure full compliance with the minimum coverage requirements of 49 CFR 387.33 on or before July 1, 2025, will be subject to penalties as provided by law, to include immediate suspension.

B.Property services: Towing services, household goods movers, and motor carriers of property (including hazardous materials) must maintain the minimum levels of coverage, as required by 49 CFR 387.9 and 49 CFR 303(b)(2) . In addition:

(1) Towing services must maintain fifty thousand dollars ($50,000) of both on-the-hook and garage-keepers' liability insurance.

(2) Household goods carriers must maintain fifty thousand dollars ($50,000) cargo liability insurance per shipper for loss or damage to cargo of the shipper.

N.M. Admin. Code § 18.3.3.10

18.3.3.10 NMAC - Rp, SCC Rule 232.03, 12-30-02; A, 1-1-05; A, 11-30-06; A, 4-29-11, Amended by New Mexico Register, Volume XXVI, Issue 03 February 13, 2015, eff. 2/13/2015, Adopted by New Mexico Register, Volume XXXV, Issue 12, June 25, 2024, eff. 7/1/2024