Documentation is a necessity when it comes to insurance, and it’s a process that comes with lots of questions. The SR-22 bond is a document that causes lots of confusion and frustration. If you have a clean driving record free of traffic-related offences and don’t let your insurance coverage expire, you might never need one. But if you are asked to get one, it’s important to understand how they work.
Below, the SR-22 Bond of Ohio team explores what SR-22s are and why you might need one.
What Is an SR-22?
SR-22s are sometimes required for drivers to maintain or reinstate driving privileges following a traffic-related offence. Also known as a Certificate of Financial Responsibility, these documents are sent from insurance companies to the state to confirm that the driver’s policy is active and meets the liability requirements of their state.
When Do I Need an SR-22?
Individuals require an SR-22 bond if they are involved in accidents or convicted of traffic-related offenses and unable to provide proof that they can pay for any damages they might cause on the road.
You might require one if you have had:
- An at-fault accident when driving with no insurance
- A DWI, DUI, or serious moving violation
- Too many tickets in a certain time-period or repeat traffic offenses
- A suspended or revoked license
- An instance of being caught without a license and/or without insurance
When Ohio SR-22 insurance is court-ordered, you will be asked to obtain one at the time of the ruling. For situations where it is state-ordered, the state’s Department of Motor Vehicles (DMV) will send you a notice of the requirement.
How Much Do SR-22s Cost?
The cost of SR-22s varies by state, but they are typically inexpensive. Most insurance companies charge a flat processing fee of $15 to $25. However, you can shop around various companies and choose one with a quote that you like. In some situations, insurance companies will not insure people with an SR-22 or add surcharges to their policy, but this is rare.
If you need an SR-22 bond in Ohio and are unsure about the kind of coverage you need, we can help. Although finding and applying for coverage can be difficult, the SR-22 Bond of Ohio team can help make it as painless as possible. Contact us today at (800) 260-8866 and our team will help you find the best deals through knowledgeable and understanding customer service.