Maryland Automobile Insurance Fund Rates to Drop

By Daily Record Staff

The Maryland Automobile Insurance Fund announced an average 11.3 percent rate decrease for its customers effective Feb. 15, for both liability and physical damage coverage. MAIF, which provides automobile insurance to approximately 77,000 Marylanders who cannot obtain coverage in the private market, said the decrease was the result of sound financial management over the past year and improved driver experience, resulting in fewer losses for the insurer. MAIF last decreased its rates 7.3 percent in December 2005.

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