INSURANCE COVERAGE FOR WILDFIRE & FLOODS

Summary

The bill adds a rule that any property insurance policy covering wildfire loss must also cover damage from associated flooding, landslides, mudflows and similar events for five years after the fire is controlled. It applies to policies issued on or after July 1, 2026, affecting homeowners and insurers in New Mexico. The aim is to protect policyholders from secondary water damage that often follows wildfires.

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