A. Any insurance company authorized to write private passenger automobile insurance within the state shall provide a minimum premium discount of ten percent for motor vehicles with passive anti-theft devices. These discounts shall apply to comprehensive coverage and shall be approved by the superintendent pursuant to Section 59A-17-13 NMSA 1978 as part of the insurer's rate filing. Some or all of the premium discounts required by this section may be omitted upon demonstration to the superintendent in an insurer's rate filing that the discounts are duplicative of other discounts provided by the insurer.
B. As used in this section, "passive anti-theft device" means any item or system installed in an automobile that is activated automatically when the operator turns the ignition key to the off position and that is designed to prevent unauthorized use, as prescribed by regulations of the superintendent. The "passive anti-theft device" does not include an ignition interlock provided as a standard anti-theft device by the original automobile manufacturer.
History: Laws 1993, ch. 137, ยง 1.
Structure New Mexico Statutes
Article 32 - Motor Vehicle Insurance
Section 59A-32-1 - Assigned risk plan, short title.
Section 59A-32-2 - Scope of article.
Section 59A-32-3 - Purpose of assigned risk plan.
Section 59A-32-4 - Assigned risk plan.
Section 59A-32-5 - Requirements of assigned risk plans.
Section 59A-32-6 - Review of proposed assigned risk plans.
Section 59A-32-7 - Disapproval of effective assigned risk plans.
Section 59A-32-8 - Failure to file plan; assigned risk plan prescribed.
Section 59A-32-9 - Appeal to governing committee.
Section 59A-32-10 - Appeal to superintendent.
Section 59A-32-11 - Action by superintendent.
Section 59A-32-12 - Action by superintendent; review.
Section 59A-32-13 - Rules and regulations.
Section 59A-32-14 - Insurance policies; appropriate reduction in premiums.
Section 59A-32-15 - Conditions for maintaining the discount.
Section 59A-32-16 - Certificate of course completion.
Section 59A-32-17 - Exceptions.
Section 59A-32-18 - Continued eligibility.
Section 59A-32-19 - Discounts or reductions in premiums.
Section 59A-32-20 - Rental car companies; insurance coverage.
Section 59A-32-21 - Discounts for comprehensive coverage.
Section 59A-32-22 - Freedom of choice; doctor of oriental medicine.
Section 59A-32-23 - Vehicle insurance; primary liability; assignment; notice.