The SR-22 bond is a fairly well-known insurance bond in the state of Ohio, but there are still a number of questions that arise in drivers’ minds when they think about it. What is an SR-22 bond, or how does SR-22 insurance work in Ohio? Here are the top things you need to know about this insurance bond before you decide to drive in the State of Ohio.
Simply put, an SR-22 — also known as SR-22 insurance, SR-22 Bond or Certificate of Financial Responsibility (CFR) — isn’t a type of car insurance, but is actually just verification of the fact that you are maintaining car insurance liability coverage. The SR-22 form is a state-mandated certificate filed by your car insurance carrier with your state’s Bureau of Motor Vehicles.
Do You Need An SR-22?
You will need an SR-22 if you have ever had a DUI, DWI or any other serious moving violation. It is also necessary if you have been at fault in an accident while driving without insurance, if you have a revoked or suspended license, or have had repeat traffic offenses in a short time period. The SR-22 is also required by anyone in an accident who couldn’t show financial responsibility.
Getting An SR-22
Car insurance companies charge a nominal fee for filing an SR-22 form, although this varies by state. To obtain an SR-22, you will need to go through a car insurance provider that is filed with the state. If you have an SR-22 in one state and move to another, you will have to fulfill SR-22 requirements for your former state, and your new liability limits will have to meet the minimums required by law in your former state.
How SR22 Bond Insurance Works
This bond provides $25,000 bodily injury for any 1 person injured, $50,000 bodily injury per accident when 2 or more people are injured, and $25,000 in property damage liability coverage if you are at fault in an accident. It covers you as a driver but does not cover the car you own or are driving. It will not provide medical coverage for you or anyone else in the vehicle you are driving at the time of the accident, and all damages beyond the state minimum liability limit of $75,000 limit are your responsibility.
More Information About SR22 Insurance Bonds
SR-22 Bond of Ohio, a division of Jeffery Insurance Agency, Inc., is a specialist in helping people legally drive in the State of Ohio. For more information about SR-22 bonds in Ohio or questions about insurance, call us toll-free today at (800) 260-8866 or get in touch with us online.