SR22 insurance is a topic of some confusion within the insurance marketplace. Many drivers who have been told they must buy SR22 insurance don’t understand the topic and require further details to ensure they abide by the rules within the insurance industry. To help guide you as you navigate the process, we’re offering a quick explanation of what you should know about SR22 insurance.
What is an SR22?
The first thing you should know is that SR22 is a form that is filed with the state, and not technically a form of insurance. The SR22 form shows that you carry at least the minimum amount of insurance required by the state and the insurance company is guaranteeing this coverage.
Where can I get an SR22?
You can buy SR22 coverage through a car insurance company after you purchase a policy through them. If you have an existing policy with your insurance company, you may be able to add an SR22 onto that policy depending on your insurance contract.
What if I don’t own a vehicle?
If you don’t own a vehicle you may still be required to get SR22 insurance. You can purchase a non-owner’s insurance policy. You may have to do this through a secondary company if your original insurance policy doesn’t offer non-owner’s coverage.
When is an SR22 required?
There are many reasons for which an SR22 might be required, but the most common is related to some sort of serious driving infraction. For example, you may be required to file for an SR22 if you have convicted of any of the following:
- Driving without a license
- Driving without insurance
- Several driving offenses over a short period of time
- Being involved in an accident without insurance
Ensure you inquire with the insurance company about the need for an SR22 before you sign any coverage agreement.
How much does an SR22 cost?
When you apply for an SR22 through your insurance company, the actual cost of the SR22 itself will be relatively minor, with a small filing fee of about $25 required. However, some insurance companies will raise your rates when you apply for an SR22. And so, it’s important you consult with a specialist SR22 insurance firm before reviewing your options.