New Mexico Medical Malpractice Insurance

Compare top-rated insurers and find the best coverage for your practice

Standard Limits


$250K / $750K

Per Claim / Per Year

Affordability Rank

Expensive
Affordable

19th

of 50 states

Average Claim Payout

Lowest
Highest

$404,559

35th highest state

Damage Caps


Yes

New Mexico Professional Liability - 2025 Guide

New Mexico physicians benefit from moderate malpractice insurance rates, supported by the state's Patient Compensation Fund (PCF) and a $750,000 cap on total damages (excluding punitive damages and medical expenses).

Medical Malpractice Insurance Requirements in New Mexico

Physicians in New Mexico must carry malpractice insurance with limits of $250,000 per claim and $750,000 annual aggregate to qualify for the Patient Compensation Fund. The PCF provides additional coverage above $250,000, effectively protecting physicians from large judgments.

Occurrence vs Claims Made Malpractice Policies in New Mexico

New Mexico is unique in that standard market insurers offer only occurrence policies. Claims-made coverage is available solely through surplus-line insurers, making occurrence the default choice for most physicians.

Occurrence
Occurrence

Coverage applies to incidents that occur during the policy period, regardless of when the claim is filed.

Claims Made
Claims Made

Coverage applies to claims filed during the policy period, requiring tail coverage for future claims.

Leading Medical Malpractice Insurance Companies in New Mexico

In addition to the below insurers, DocShield typically provides your practice with quotes from several other highly rated insurers. Ratings provided by AM Best (the leading insurance credit rating agency).

MedPro

A++

The Doctors Company

A

Coverys

A

MagMutual

A

Malpractice Insurance Cost in New Mexico

The data below represent undiscounted premiums. DocShield is often able to save practices 30-50% relative to these rates.

Medical SpecialtyAverage PremiumLowest Premium
Anesthesiology
14,900
4,885
Cardiovascular Disease - Minor Surgery
16,100
6,401
Emergency Medicine
24,300
10,106
Family Practice - No Surgery
12,800
3,874
Gastroenterology - No Surgery
10,700
5,727
General Practice - No Surgery
12,800
3,874
General Surgery
33,000
10,106
Internal Medicine - No Surgery
12,900
4,633
Neurology - No Surgery
11,700
5,727
Obstetrics and Gynecology - Major Surgery
46,700
16,844
Occupational Medicine
7,100
2,695
Ophthalmology - No Surgery
7,600
2,358
Orthopedic Surgery - No Spine
29,600
10,106
Pathology - No Surgery
8,200
3,369
Pediatrics - No Surgery
9,600
3,874
Psychiatry
7,600
2,695
Pulmonary Disease - No Surgery
12,500
5,727
Radiology - Diagnostic
15,700
4,885

Working with Medical Malpractice Insurance Brokers in New Mexico

A licensed broker can help you navigate the administrative work involved in getting quotes and the nuances of choosing a policy that fits your particular practice. Importantly, brokers work for you, not a single insurer, so they can shop across multiple insurers to find you the most competitive premium for a high quality policy. This is especially important for medical malpractice insurance policies because premiums often vary significantly for the same doctor from one insurer to another.

Buy Affordable Malpractice Insurance with DocShield

We've built the fastest application process in the industry so you don't have to disrupt your schedule to shop for coverage. After you select a policy, we automatically scan the market every year before renewal to ensure you're paying a fair price.

Our platform streamlines all outpatient coverage needs, including excess policies, tail coverage, and group policies. We typically drive 20-30% premium savings for our customers without sacrificing on coverage quality, which translates to hundreds of thousands in savings for specialists over the course of their careers.

New Mexico Claims Payouts

Historical trends of medical malpractice claims and payouts in New Mexico

New Mexico Statute of Limitations

The statute of limitations for malpractice claims in New Mexico is three years from the date of the alleged negligent act. Exceptions apply for minors under six years old, who have until their ninth birthday to file.

Tort Reform in New Mexico

New Mexico's tort reforms include: i) a $750,000 cap on total damages (excluding medical expenses and punitive damages), with annual CPI-based adjustments, ii) establishment of the Patient Compensation Fund for damages exceeding $250,000, iii) a medical review commission to evaluate claims prior to court, and iv) prohibition of ad damnum clauses specifying dollar amounts in complaints.