Overview For MAIF Insurance Agent

When faced with a situation where the car insurance that you are applying for would be rejected, you then need to find another private company who would accept. But if this keeps going on and on, it would end up really frustrating and hopeless. But there are actually government recognized companies that would support these failed applications.

In Maryland, there is a company that can provide uninsured motorists the opportunity to have an insurance even after the accident has already happened and they accept applications that even other private companies have not accepted. The Maryland Automobile Insurance Fund or MAIF insurance agent has his taken cared of. This is related to their Uninsured Division which guidelines for insurers may apply for being able to have this.

This may be acquired by Maryland residents who are in these certain situations. These are for residents who do not own a car and had this kind of liability, and even for those who have relatives who do not have their insurances as well, so this may still be included in the coverage of the policy. There would be further investigation to see if the individual is negligent free or have not been part of the damage or liability so that they can have this.

All the funds that they have received for this separate division for the uninsured individuals came from motorist penalty fines which are imposed on the uninsured individuals in the state. This also means that there is no other company that has contributed to the funds, and also no other drivers that has insurance already. It is only collected from fined drivers operating without any insurance.

For vehicle owners, they have legal minimum requirements imposed. And the penalties would include the loss of plates, and a fine for uninsured motorists of one hundred and fifty dollars in the first month and seven for the succeeding days. And then twenty five dollars for the restoration fee, and a lot more.

In 1972, the Legislature in the State of Maryland has created this for the exact purpose. This agency is not dependent on any other company and they report to the Governor directly. They hold the responsibility for anything towards the legislature. Their funds for them to operate does not come from anywhere else except for the premiums of the insurers.

The Board of Trustees are the ones advising and running this company and this comprises of appointed people by the Government and from the industry, ten and seven people respectively. Also, the Executive Director is a member of the Board of Trustees and is the one running the operations everyday. The units for operation is the Underwriting Department, and then the Human Resources Department, the Claims Department, the Fiscal Department, the Administration Department, and the Information Systems Department.

There are some ways that the costs may be lowered when applying for this policy. It is fairly simple but needs to be maintained. Your driving records should be good and clean, since it is determined that ending up having so many violations would raise the costs for the premium. So it is important to obey the traffic rules and driving defensively.

Try to find certain deductibles that can lower your costs. This is by eliminating the ones that are unnecessary or for small losses that would incur. This would effectively lower the premium cost for damages if the deductibles are higher. Make sure to check your car as well regarding its age and condition.