Not many people know about SR22 insurance, until they’ve had a tangle with the legal system. Even if you’ve heard the term SR22 insurance, you still might be a bit confused about what it is all about and how it can affect you. If you are a driver and you are eager to get back on the road, then you need to understand exactly what an SR22 is and how it affects you.
It is not an easy way to get your insurance all sorted, particularly if you’ve had your license suspended for one reason or another. You have to understand that if you need SR22 insurance then your car insurance will be more expensive. However, if you keep your record clean and stay insured, you could be paying the same standard rate as everyone else if you give it a few years, you just have to learn to be patient before that happens though.
What is an SR22?
An SR22 is a form that is filed with your State to show that you are meeting your State’s minimum auto liability insurance requirements. It might also be referred to as a certificate of financial security. A lot of people refer to SR22 as “SR22 Insurance”, but it’s not insurance, it’s simple a document provided by your insurance company that proves that you have liability coverage on your car insurance policy. However, calling it SR22 insurance isn’t really the end of the world and everyone knows what you are referring to.
An SR22 is often required for a driver to reinstate or maintain their driving privileges after certain traffic related offenses. If you have a good driving record and don’t let your coverage lapse, you may never need SR22 insurance. However, if you are required to get one, then it’s important that you know the right way to proceed. For example, the only way to obtain an SR22 form is from a car insurance company after you purchase a car insurance policy. You cannot obtain an SR22 any other way.
Why is an SR22 Required?
An SR22 is required when someone who was involved in an accident or convicted of a traffic offense is unable to show financial responsibility (in other words, they can’t prove that they’d be able to pay for damages they may cause while driving). Many people who need to get an SR22 sorted, are drivers who have a DUI on their record, however, there can be many other reasons to why an SR22 is required. For example, it might also be required because you have committed several traffic offenses in a short period of time, or you have been caught driving without insurance.
You might also find that there is a requirement to reinstate your driver’s license after a suspension or revocation. If you can meet the SR22 requirements, then this can help you get your license and/or be reinstated and therefore get you back on the road. If you aren’t sure if you need one, then you’ll it’s required only once you have been informed by the court or State. You will also be informed as to why it is required, and for how long it must stay on your file.
How Much Does an SR22 Cost?
If you have to get SR22 insurance, then you are probably wondering at how much this will cost you. Normally, car insurance companies will charge a one-time filing fee which is about $25 and that is all that this is going to cost you. It’s not much when you consider that this is helping you get back out onto the road. However, it’s not the SR22 that will cost you much though, it’s the violation that resulted in the SR22 being required that will up your insurance premiums.
Depending on how serious the violation, your insurance premium could go up to more than $1300 per year. However, if you intend to drive a car (even if it’s not yours, e.g. a rental), then you need to make sure that you have insurance and have sorted out your SR22. Don’t forget that you will still need to get insurance even if you don’t have a car. However, obviously if you are planning on getting a car then you need to make sure that you get the right insurance. If you are unsure about what car to get, you could always check out this article here about what the best cars are for families.