Everything You Need to Know about SR-22 Car Insurance
SR-22 Car insurance is a must-have if you want to remain legal and compliant on the roads. Many people dont know what this insurance is or which situations necessitate it, so lets explore everything you need to know about SR-22 car insurance.
For starters, SR-22 car insurance is a type of insurance policy that certain drivers must purchase to prove to their local DMV that they have the proper insurance coverage. Some people might refer to this type of policy as certificate of financial responsibility or simply proof of insurance. Either way, individual states require drivers to obtain this certificate if they have had their drivers license suspended or revoked due to certain violations.
You may be wondering what those violations are, so here are the most common reasons why a driver may be required to purchase SR-22 insurance: getting caught driving without insurance or not having enough insurance coverage, a DUI offense, multiple mistakes moving violations and a number of other traffic-related offenses.
SR-22 policies are not difficult to obtain and they are usually required for three years of coverage, but the specifics depend on the state you live in as well as the violation. Different insurance companies offer SR-22 coverage at varying price points. Premiums are usually more expensive than standard car insurance, so its important to shop and compare rates and policies before making a decision.
When looking for an SR-22 policy, its important to be aware of the fees associated with making changes or canceling your policy. Depending on the provider, you may be subject to change fees or fines for canceling before the agreed upon duration. Make sure to ask any of the pertinent questions before signing up and accepting a policy.
Once you decide which policy works for you and your personal situation, the SR-22 documentation will be submitted directly to the DMV so they can keep it on file. The SR-22 policy you select must be in effect until the time specified by the DMV. The paperwork must be maintained properly and you may be asked to submit proof of your insurance status to the DMV.
You will also be asked to fill out other forms to prove financial responsibility, such as a bond, trust or certificate that designates the same coverage. It is important to remember that not all insurance providers offer SR-22 coverage, so make sure to do your research and shop around before committing.
Now that you know the basics about SR-22 car insurance, lets explore some of the most frequently asked questions.
First, you may be curious about what happens if you let your SR-22 lapse or fail to maintain the policy for the specified time. If your policy is canceled or not renewed, the DMV will be notified and your drivers license may be suspended again – a situation that can be both expensive and time-consuming to remedy.
You may also be wondering how much SR-22 insurance costs. Premiums can range depending on the specific policy and company, but they can be significantly more expensive than standard car insurance.
In a similar vein, you may want to know whether an SR-22 policy covers all of the cars you own. Typically, the SR-22 policy will only cover the vehicle that was used in the incident that led to your need for SR-22 car insurance.
On the other hand, you may be looking for some more cost-effective options. If you are a good driver and the offense you committed was relatively minor, you might consider a Non-Owner SR-22 policy. This type of policy covers you and your family members in the event you are driving another persons car without insurance, making it a great and low-cost option for those in need.
Finally, you may be asking yourself why you should trust the insurance provider. Most companies strive to be transparent and open about their policies and procedures. Many providers offer discounts and incentives if you have a clean driving record and there are usually a number of options when it comes to SR-22 policies.
To sum it up, SR-22 car insurance is a must for those drivers who have had their permits suspended or revoked due to certain offenses. With the right research and knowledge, you can find the policy that will get you the coverage you need without breaking your budget.