May 19, 2022 (Baltimore) In order to better serve Maryland’s commercial vehicle drivers, Maryland Auto insurance has sought and received approval from the Maryland Insurance Administration (MIA) to offer combined single limits coverage up to $1 million for eligible businesses and vehicles.
Many contracts, particularly governmental contracts, require commercial drivers to be covered for up to $1 million. Business owners who are unable to obtain these higher limits in the standard market, are prevented from bidding on these jobs.
“As part of our mission, Maryland Auto guarantees the State’s minimum required coverage limits for all eligible drivers,” said Maryland Auto Executive Director, Al Redmer, Jr. “However, these minimum limits are below the amount required to qualify for some contracts. We don’t want Maryland business owners to be held back, so we’ve taken steps to be able to offer higher limits coverage to our policyholders.”
Maryland Auto continues to offer split limits coverage starting from the State’s minimum required $30K/$60K/$15K up to $100K/$300K/$100K for eligible vehicles. The new combined single limit coverage is available at the levels of $500K, $750K, and $1M.
Maryland Auto works through a statewide network of authorized providers who sell Maryland Auto insurance policies. This network of more than 1,400 agents located throughout the state can help businesses owners with their commercial auto needs.
Visit mymdauto.com/commercial for program details or to find an authorized Maryland Auto provider
About Maryland Auto
Maryland Auto Insurance, an independent agency of the State of Maryland, is a mission-driven organization dedicated to reducing the number of uninsured drivers on Maryland roadways. Maryland Auto provides accessible, affordable insurance to drivers who currently are unable to obtain coverage from standard carriers. Maryland Auto was established in 1972 by the State of Maryland to protect its citizens from the risks and costs associated with uninsured driving. For more information, visit www.MyMarylandAuto.com.
Contact: Cathy Nyce, 301-509-6490, Cathy.Nyce@MarylandAuto.Net