If you’ve been charged with a DUI or know someone who has, you’ve probably heard a lot of different things about SR-22 insurance. There’s a lot of misunderstanding surrounding SR-22 bonds—which don’t fall into the category of traditional insurance—that is perpetuated by unfounded myths. Luckily, the SR-22 Bond of Ohio team is going to debunk the most prevalent ones.
Myth 1: You Don’t Need SR-22 Coverage
If the Department of Motor Vehicles (DMV) orders you to get SR-22 insurance, you must obtain it. Not only that, you must receive it within a specific period. Anyone who doesn’t get it as ordered risks losing their license permanently.
Myth 2: You Don’t Need Insurance for SR-22 Coverage
Although lots of people believe that they don’t need an insurance policy to get SR-22 coverage, this isn’t true. If you need SR-22 coverage, you are required to have an insurance policy in order to obtain it.
Myth 3: You Get Charged Monthly for SR-22 Insurance
After filing for an SR-22, you need to pay a one-time fee for your policy. Contrary to popular belief, you are not charged monthly after this payment. But bear in mind that some policies require additional charges for each policy term renewal.
Myth 4: SR22 Policies Are More Expensive Than Traditional Policies
An SR-22 endorsement on your insurance policy requires a small fee. In most cases, this fee is less than it costs for a tank of gas. At the end of the day, this is a one-time price that ensures that you have the necessary coverage integrated into your policy until it is renewed.
Myth 5: If You Don’t Have a Car, You Don’t Need SR-22 Coverage
Even if you don’t have an insured car, you still need to get an SR-22 non-owners policy. This specific coverage ensures that you meet the requirements determined by the judge.
Myth 6: You Can Cancel Your SR-22 Policy After Your License is Reinstated
After getting your license reinstated, you need to retain your SR-22 insurance so that the DMV can determine if you are currently insured or not. If you cancel your policy, the insurance company will notify the DMV, which can lead to fines and penalties.
At the end of the day, SR-22 insurance is an important form of coverage for people involved in traffic-related accidents that still need to drive. Do you need a policy? Contact us today at (833) 883-3481 and get the best deals.