{"data":{"id":"us-nm/59a-62-5","jurisdiction":"us-nm","citation":"59A-62-5","heading":"Disclosure of terms.","body":"A. A self-service storage insurance producer shall not sell, solicit or offer self-service storage insurance to occupants at any location unless the licensee makes available a brochure or other written or electronic material that:\n(1) discloses that self-service storage insurance may provide a duplication of coverage already provided by an occupant's homeowner's insurance policy, renter's insurance policy, vehicle insurance policy, watercraft insurance policy or other property insurance coverage;\n(2) states that the purchase by the occupant of the self-service storage insurance offered by the owner is not required in order to lease storage space at the self-service storage facility;\n(3) provides the actual terms of the self-service storage insurance coverage or summarizes the material terms of the self-service storage insurance coverage, including:\n(a) the identity of the insurer;\n(b) the price of coverage and how payment shall be made;\n(c) the identity of the supervising entity;\n(d) deductibles, exclusions and conditions;\n(e) benefits of the coverage; and\n(f) key terms and conditions of coverage;\n(4) summarizes the process for filing a claim; and\n(5) states that an occupant that purchases self-service storage insurance may cancel the insurance at any time by notifying the insurer or the supervising entity in writing and shall receive a refund of any unearned premium within twenty days of cancellation.\nB. The written or electronic material required pursuant to this section shall be submitted to the superintendent for approval upon request.","path":["Chapter 59A - Insurance Code","ARTICLE 62 Self-Service Storage Insurance License"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18562/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"bad5afbe179598308975e792784c49dee185543fd4b3c7d672f11e48e35aab2f","source_id":"us-nm","stale":false,"prev":"us-nm/59a-62-4","next":"us-nm/59a-62-6"},"notice":"GroundRules: Original legal text. Not legal advice."}