Looking for ways to fit your car insurance in to your budget?
Maryland Auto Insurance Fund added several new payment plan options in late 2013 to make paying for your MAIF insurance policy easier.
Now MAIF customers can budget monthly payments directly through MAIF, thus avoiding the added costs associated with third party financing that many use to pay their annual premium in full, as previously required.
MAIF now offers several options, depending on your coverage needs. The new plans require a down payment of 20-25% and clients can choose the installment option available at their premium level:
- Premiums under $3,000 per year: 25% down payment and 3 or 6 monthly installments, with the first payment due 60 days after the policy is established.
- Premiums over $3,000 per year: 20% down payment and 4 or 8 monthly installments with the first payment due 45 days after the policy is established.
As a top provider of Maryland Auto Insurance for drivers who have been rejected or dropped by traditional insurance companies, MAIF still offers a discount for those who prefer to pay the annual premium in full.
Our experienced providers can answer your questions and explain these payment plan options in greater detail. Contact one of our convenient locations to speak with a provider and get your MAIF insurance policy established today!