Understanding how insurance works can, on its own, be a bit tricky. But when it comes to state insurance and other government involvement, it can be even more difficult to understand. The Maryland Auto Insurance Fund (also known as MAIF or My MD Auto) is an affordable auto insurance option for many drivers. If you can’t find an insurance policy due to your driving record or history, MAIF may be able to help. Because it is a legal requirement for Maryland drivers to have auto insurance, MAIF provides a last resort for drivers unable to find the proper coverage.
Do You Qualify for a Maryland Auto Insurance Fund Policy?
MAIF auto policies are designed to be an affordable option for auto insurance. However, they aren’t available for just anyone. To qualify for a MAIF policy, drivers need to prove that they were denied coverage from at least two different private insurance companies. MAIF is meant to be the last option for drivers who can’t find other coverage. If you have a clean driving record and no financial difficulties, you may be denied coverage through MAIF.
Who May Need MAIF Coverage
Private insurance companies may deny you coverage for any number of reasons. The most common reason you may need MAIF is if you have a history of accidents or are otherwise considered a high-risk driver. Many insurance will deny coverage because they feel it is too risky to provide it. Insurance providers are in the interest of saving money, not paying out for accidents.
Drivers may also be considered high-risk due to other factors, such as their age, travel plans, or the kind of vehicle they drive. For example, college students tend to be considered high-risk drivers. This is because younger drivers are generally more likely to get into accidents. And traveling to and from campuses means drivers are more likely to encounter collisions. Because of this, some insurance companies may be less willing to provide coverage. If denied, MAIF could help ensure you have the coverage you need.
What Kind of Insurance Does MAIF Provide?
Maryland drivers are required to have a minimum level of insurance to protect them in an accident. This minimum includes:
- $30,000 for bodily injury
- $60,000 for two or more people
- $15,000 for property damage
While this is the minimum needed, MAIF can help provide insurance policies covering a variety of accidents and costs. From regular auto insurance to rideshare insurance to motorcycle insurance, MAIF is available for motorists of all kinds.
If you need help getting affordable auto insurance, Roadway Auto is here to help. We can provide qualified drivers with insurance coverage through the Maryland Auto Insurance Fund. Contact your local insurance provider today at 301.476.1183 to schedule a consultation and learn more about your insurance options.