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Basics of SR22 Insurance

  • Auto Insurance
  • Xavier Sabastian
  • 4 minutes

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Many people are unfamiliar with SR22 insurance. We at Way.com are going to try to answer a few questions about this subject. 

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What is SR22 insurance?

An SR22 is a form issued by an insurance provider and filed with the Department of Motor Vehicles (DMV) to check that a driver has sufficient auto liability insurance. After a driver’s license suspension or revocation, the driver may be forced to register. Drivers whose licenses have been suspended or revoked due to traffic crashes, speeding, or driving while intoxicated are typically required to comply. Your auto insurance policy renewals and cancellations will also be reported to the state by the insurance provider.¬†¬†

An SR22 can be used to cover property damage and any liability that might arise from an accident involving the covered driver. Since it covers the driver’s liability to those involved in an accident, it is referred to as “financial responsibility” insurance. It would not always cover the cost of repairing or replacing the owner’s car or the other vehicle involved in the accident. In a no-fault accident or one in which the restored motorist was not at fault, this might be different.¬†

The state generally requires this filing for a few years to ensure that the insurance is in good standing. 

How and where to buy SR22 insurance?

If you choose to make transactions electronically, you can buy insurance online or call an insurance provider and meet with an agent. The difference between these two transactions is that you do not know how much it will cost when you buy something online until the transaction is completed. Since fees differ from state to state, this may not be easy. If you contact your agent directly, on the other hand, you will automatically learn how much money you need to set aside for fees.  

SR22 insurance is not available from any insurance provider. This may be because drivers who fall under the classification are high-risk drivers. 

How much is SR22 insurance?

The rates are high, and the primary explanation for this is that you are classified as a high-risk driver. As a result, plan to pay a higher premium on your car insurance. High-risk insurance premiums result from driving while intoxicated, numerous traffic violations, or an accident with current insurance. When you factor in extra costs, such as filing fees, you will undoubtedly pay more than the average driver.  State filing fees differ from one state to the next.  However, you can expect to pay at least $25 in addition to the expense of your insurance policy.  

Is non-owner SR22 insurance necessary?

In some states, you may still require an SR-22 certificate and SR-22 insurance policy even if you don’t own a car. In the event of an accident, while driving a rental vehicle, you may still be liable for any resulting injuries or property damage. A non-owner SR-22 insurance policy may be available to you. If your driving privileges are currently not available, you may require a non-owner SR-22 in order to get them back. If your state requires you to submit an SR-22, speak with your insurer to get the necessary paperwork. Your insurance agent can provide you with more information about obtaining an SR-22.

When is SR22 insurance activated? 

In some instances, this insurance may be necessary. However, the following are the most common reasons: 

  • In the instance where you are driving without insurance,¬† you’ll face the charges.¬†
  • When you are driving while intoxicated under the influence of alcohol, you’ll face serious consequences.¬†
  • If you are driving without a valid license or one that has expired, there will be charges.¬†
  • When you have a collection of a large number of tickets in a limited period.¬†

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Check out our blogs for info on finding top-rated airport parking, the best parking spots in your city, and affordable car washes near you.

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