In short
New Mexico sets title insurance prices by government order. The Superintendent of Insurance fixes every premium in a title rate case, and agents may not discount or rebate them (13.14.9.8 and 13.14.9.12 NMAC). A lender’s policy issued with your owner’s policy costs a flat $100, and a title commitment costs $100 for six months (Office of Superintendent of Insurance table, adopted June 27, 2025). The owner’s premium depends on the price bracket.
Who sets title insurance rates in New Mexico?
The Office of Superintendent of Insurance (OSI) runs the state’s Title Insurance Bureau. The Bureau regulates the industry through ratemaking and rule-making hearings held every three years. Rates and charges are “established by order of the superintendent in a title rate case” (13.14.9.8 NMAC). The rule treats the order from the most recent case as the price list in effect when the premium is incurred.
OSI publishes a table of every promulgated form and its rate. Its latest version was adopted on June 27, 2025 and posted with a September 30, 2025 update. The same price applies at every title company. A title agent or insurer “shall charge the applicable rates and charges for each transaction” and may not grant a credit, discount or rebate that is not authorized (13.14.9.12 NMAC). Paying a referral fee is also prohibited (13.14.9.11 NMAC).
So shopping among title companies changes service, not premium. You can still choose your own company. OSI’s consumer guide says a buyer may do so, although few do.
What does the premium include?
The premium covers the title insurance itself, the examination of the title and the work of deciding which exceptions go in the policy. The rule adds that no other rates or charges may be charged “for title insurance or title services” (13.14.9.10 NMAC). Separate charges that the rules do allow include:
- Commitment: $100 for the initial six months, plus $100 for each additional six-month extension.
- Cancellation fee: charged if the sale does not close and no policy is issued. It must be “reasonable and appropriate” for the services rendered, and OSI sets no fixed amount (13.14.9.19 NMAC; OSI table).
- Duplicate original policy: $25 if issued with the original, $65 otherwise.
Escrow, settlement and recording charges are not part of the premium. For recording, see transfer tax and recording costs.
Owner’s policy and lender’s policy
The owner’s policy protects you, the buyer. The lender’s policy protects the mortgage company, which requires it for an amount equal to the loan (OSI consumer guide). New Mexico’s table prices them as follows:
| Policy | Rate under OSI’s 2025 table |
|---|---|
| Owner’s policy, single issue | Basic premium rate from the OSI bracket schedule (Appendix A) |
| Loan policy, issued with an owner’s policy | $100 for coverage up to the owner’s policy amount; any amount above that at 90% of the basic rate |
| Loan policy, issued alone | 90% of the basic rate |
| Second mortgage or later loan policy | 60% of the basic rate, up to the owner’s policy amount less existing liens |
| Reissue owner’s policy | 90% (3 or more years since the earlier policy), 85% (2 to 3), 80% (1 to 2) or 75% (1 year or less) of the basic rate, up to the old policy amount |
| Replacement owner’s policy after an insurer failure | 35% of the basic rate |
| Refinance loan policy | 40% to 80% of the basic rate, depending on the age of the prior policy |
The reissue discount helps when the seller bought a policy recently and can give you a copy. It only applies up to the amount of the earlier policy. Extra coverage is priced at the regular brackets.
Common endorsements
Endorsements add coverage for particular risks. Many carry a small flat charge:
| Endorsement | Charge |
|---|---|
| Condominium, planned unit development | $25 |
| Land abuts street, location | $25 each |
| Survey coverage, owner’s policy | 15% of the basic premium |
| Survey coverage, loan policy | $50 |
| Manufactured housing unit | $75 |
| Restrictions, encroachments and minerals, loan policy | 10% of the basic premium, at least $250 |
Your lender decides which endorsements it requires. OSI’s table lists the notice of availability of owner’s title insurance at no charge.
What I could not confirm
OSI’s rate table sends the owner’s premium to “Appendix A”, a schedule of dollar brackets. I could not retrieve that schedule from OSI’s website or the Register, so this page gives no dollar premium for a $400,000 home. Ask the title company for the Appendix A amount for your price. By rule, every company must quote the same figure.
Worked example: a purchase with a loan
Suppose you buy a $400,000 home with a $320,000 loan, and the lender’s policy is issued at the same time as your owner’s policy.
| Line | Amount |
|---|---|
| Owner’s policy (Appendix A premium for $400,000) | Ask the title company |
| Lender’s policy, issued simultaneously, $320,000 (below the owner’s amount) | $100 |
| Title commitment, initial six months | $100 |
| Condominium endorsement, if it is a condo | $25 |
If the seller had an owner’s policy issued 2 years ago and gives you a copy, the owner’s line would be 80% of the Appendix A figure, up to the old policy amount. This is an illustration, not a quote. For a plain-language guide to the policies, see title insurance explained. The closing-day lines are in closing costs in New Mexico.
Frequently asked questions
Can I negotiate the price of title insurance in New Mexico?
No. The premium is promulgated by the Superintendent, and agents may not offer unauthorized discounts or rebates. You can compare service and choose your own title company.
Who pays for the owner’s policy?
The rate tables I read set the price, not who pays it. Your purchase agreement decides, so check what yours says.
Does the lender’s policy protect me?
No. It protects the lender. OSI’s consumer guide says that, without a mortgage, an owner’s policy is the only way to protect your investment against claims on your title.
What does the $100 loan policy figure mean?
When the lender’s policy is issued with your owner’s policy, the loan policy costs $100 for coverage up to the owner’s policy amount. Any amount above that is priced at 90% of the basic rate.
Where do I see the official rates?
OSI posts the table of promulgated forms and corresponding rates on its Title Insurance Forms & Tables page. For the dollar brackets, ask your title company for the current Appendix A schedule.
More New Mexico guides
- Closing costs in New Mexico: what buyers and sellers pay
- Transfer tax in New Mexico: is there one when you buy or sell?
- Property tax in New Mexico: rates, cap and exemptions
- What must a home seller disclose in New Mexico?
- Do you need a real estate attorney to close in New Mexico?
- How does foreclosure work in New Mexico?
- Home prices in New Mexico and Albuquerque: median value
- First-time home buyer programs in New Mexico
- How to verify a real estate license in New Mexico
- New Mexico community property: what it means for a home
Sources
- Title Insurance Forms & Tables (New Mexico Office of Superintendent of Insurance) (consulted October 13, 2026)
- Appendix 13.14.18 NMAC: New Mexico Promulgated Title Insurance Forms with the Corresponding Rates, adopted June 27, 2025, updated September 30, 2025 (Office of Superintendent of Insurance) (consulted October 13, 2026)
- 13.14.9 NMAC, General Rate Provisions (State Records Center and Archives) (consulted October 13, 2026)
- 13.14.18 NMAC, Promulgated Forms (State Records Center and Archives) (consulted October 13, 2026)
- Title Insurance, consumer guide (New Mexico Office of Superintendent of Insurance) (consulted October 13, 2026)