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Maryland Automobile Insurance Fund Producer Bond

The $10,000 Maryland automobile insurance fund producer bond (MAIF)  is an instant issue surety bond which will cost you just $100, annually. Options exist to prepay the bond for 2 or 3 years. Please call our agency, AmeriPro Surety Bonds at 844-589-9732.

Maryland Automobile Insurance Fund Producer Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Automobile Insurance Fund Producers – Maryland

 

 

 

As a Maryland automobile insurance fund producer (MAIF) your profession is to help Maryland drivers qualify for auto insurance who cannot do so in the standard market.

A condition of being permitted to do so is obtaining the statutorily required surety bond. Our agency helps you to obtain the bond within 5 minutes and have it ready for filing with the appropriate regulatory department.

 

 

 

The Surety Bond Amount – Qualifying – the Cost

 

 

 

The Maryland automobile insurance fund producer bond is a $10,000 bond required as per the Maryland Insurance Code § 20-511.

Qualifying for this bond is very easy.

Complete the standard application with a surety agent (this is the quickest way), pay the premium which costs just $100, and this surety bond is issued to you immediately.

Unlike many other surety bonds, there is no credit check for this bond; it is an “instant issue bond”.

Once the bond is issued, an emailed copy can be sent to you, and the original copy with the wet signature will follow in the mail.

 

 

 

Other Payment Options

 

 

 

Additionally, this surety bond may be prepaid for a period of up to 3 years. The decision being entirely yours, prepayment of the premium allows you to save over year to year renewal.

The breakdown is as follows:

  • One year, $100;
  • Prepaid for two years, $180;
  • Prepaid for 3 years, $260.

 

 

Its Purpose

 

 

 

The purpose of the MAIF surety bond is to serve as a financial guarantee which ensures that you will pay all money belonging to the person when the funds come into your possession.

The bond, therefore, is for the benefit of your clients; it is not a liability insurance policy on your behalf.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, and fiduciary surety bonds throughout Maryland.

Our agency also has the ability to provide surety bonds nationwide.

Please call us today at:

 

 

 

844-589-9732

 

 

 

Or, you may fill out the form below and an agent will contact you….

 

 

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AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

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Office: 1 (844) 589-9732

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Monday – Friday 6 am to 5 pm (PST)