Driving is a privilege, not a right.
For safety reasons, most states impose strict requirements and high fees to keep their roads safe.
These certificates of insurance, known as SR22 forms, assure the company issuing them of one thing: that the driver will remain financially fit to drive in the state.
But what is it, precisely? Below is a comprehensive guide to explain the ins and outs of SR-22 insurance and why it matters to you. Explore with us below:
What It Is and What it Covers
SR22 insurance is a high-risk insurance policy, known as a financial responsibility insurance form, that is required by the state for drivers who have been convicted of certain traffic violations. These insurance plans are designed to protect other drivers on the road from drivers who have been convicted of traffic violations by helping offset the risk of accidents and help ensure that drivers are obeying the law.
It will pay for damages that you cause to another person or their property, but not for damages to your own vehicle. An SR-22 is not separate from other types of insurance, but rather an endorsement of your existing auto insurance policy.
Who Needs It and How to Get It
Drivers who are required to have SR22 insurance must purchase it from an insurance company, and have it filed with the state, which will serve as proof that the driver has the minimum amount of car insurance coverage required by the state. It is important to maintain it for the duration of the required period or the driver’s license may be suspended. Those who are required to have SR22 insurance can get it through most insurance companies that offer regular automobile insurance.
How Much It Costs and What to Expect
Typically required for three years, an SR22 insurance costs drivers about $25 to $50 per month, and your car insurance rates may increase by 10% to 20% if you have an SR22 filing. The price varies based on the driver’s insurance company, driving record, and state. Your car insurance company may also charge you a one-time fee for filing the SR22 form.
SR-22 Insurance: The Pros and Cons
It provides financial protection for drivers in the event of an accident, aside from additional coverage for property damage and personal injury, which can be invaluable if you are involved in a serious accident.
On the other hand, the cost is typically much higher than standard auto insurance rates. SR22 insurance also has stricter eligibility requirements, so it is important to make sure that you are eligible before applying.
What to Do If You’re Involved in an Accident
Your company will then file an SR22 form with the DMV, which will reinstate your driver’s license. You will likely be required to submit a copy of your SR22 certificate as part of the claims process.
If you do not own the vehicle you are driving in an accident, you might need to have non-owner SR-22 auto insurance. Get cheap non owner sr22 from most car insurance companies.
Get Yourself Covered
SR-22 insurance is required for drivers who have been convicted of DUI or other serious traffic offenses. Although it is more expensive than regular insurance, it is a necessary expense for many drivers.
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