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Maryland Auto Insurance Payment Plans

On October 1, 2013, Maryland Auto Insurance introduced an installment plan for payment of annual premiums allowing My MD Auto Insurance customers to spread out payments after making an initial down payment of 20-25%, depending on their annual premium amount.

There is a 5% discount available for customers who choose to pay in full. Customers still have the option of obtaining their own financing for annual premiums with a Premium Finance Company.

Payment plan options are based on the annual premium amount as follows:

 *Premiums Less than $3,000, Requiring a 25% Downpayment:

-6 monthly installments with the first payment due 60 days after the policy is established.

-3 monthly installments with the first payment due 60 days after the policy is established and the remaining 2 payments due every 60 days.

*Premiums $3000 or More, Requiring a 20% Downpayment:

-8 monthly installments with the first payment due 45 days after the policy is established.

-4 monthly installments with the first payment due 45 days after the policy is established and the remaining 3 payments due every 45 days.

*Roadway Insurance offers down payments as low as 10% to get you started.

Questions? Contact a My MD Auto Insurance provider to get a free quote and discuss your payment options.

Are there any discounted MAIF rates?

Yes, there are two ways to acquire a discount with Maryland Auto Insurance. They offer safe driver discounts where the driver has a clean driving record and does not get into any accidents. There is also a continued coverage discount. If you use MAIF insurance for one consecutive year then you will qualify for this discount. Additionally, if you pay in full, you will receive a 5% discount.

If MAIF more expensive than private car insurance?

In most cases, yes. MAIF was developed to give high risk drivers the basic coverage needed to operate a vehicle. Driving legally is a much better option than driving illegally because you can not obtain proper coverage. The price of getting caught driving without insurance is much higher.