Nothing in this section shall be construed to prohibit the issuance of a separate policy providing the coverages listed below to the creditor. Creditor-placed insurance may not include:

1. A. coverage for the cost of repossession or the cost of storing repossessed collateral;
2. B. skip, confiscation and conversion coverage;
3. C. coverage that pays the credit transaction deficiency or insurance premium deficiency;
4. D. coverage for payment of mechanics’ or other liens that do not arise from a covered loss or occurrence;
5. E. coverage that indemnifies creditors for losses caused by their failure to record instruments which provide evidence of collateral security;
6. F. for motor vehicles, coverage other than collision and comprehensive; or
7. G. for mobile homes, coverage that is broader than a basic fire and extended coverage policy such as ISO Form DP001 06 96.

[13.18.3.11 NMAC – Rp, 13.18.3.11 NMAC, 7/24/2018]