Auto Insurance Fund Producer Bond
The Maryland Automobile Insurance Fund requires producers to submit a surety bond in the amount of $10,000. The Maryland Automobile Insurance Fund (MAIF) was founded by the Maryland State Legislature in 1972 and provides automobile liability insurance for Maryland residents who are unable to otherwise obtain any. An insurance producer’s bond is an important step in the licensing process to become a MAIF producer. This bond allows the state or customers to file a claim against the principal (producer) in the case of financial loss due to the producer’s negligence or faulty business practices.Call 1-844-933-4455
Auto Insurance Fund Producerare for anyone who wants to be a licensed insurance producer for the MAIF is required to obtain a Maryland auto insurance provider bond. These bonds are continuous until canceled, and the surety must give the state 30 days’ notice prior to cancellation.
Obtaining and maintaining an a bond at Jane Bond Surety is simple.
Many bonds can be obtained in as little as an hour. Some take longer. Use the highlighted bullet points above to determine what you can expect when applying for this bond. Many (not all) bonds require a credit check. In many instances it simply depends on the actual bond one is applying for and the insurance company's experience in that category. Some bonds are considered low risk and some are considered higher risk. Bonds that do not require a credit check are usually instantly issued.
We, at Jane Bond Surety & Insurance, take your bond very seriously. We also consider the cost. We make every effort to obtain the quickest bond at the lowest rate. If at any juncture you have any questions call us at: 1-844-933-4455.
Quote via email.
Once we receive your app we will locate the best rate available to us. We will communicate that to you via email. The email will contain instructions on how to proceed.
When you decide to move forward we will provide you with options to pay the premium, receive the bond as well as shipping options. It's really that simple!