When it comes to insurance, there certainly are many different types, everything from life insurance to auto insurance. There are also SR22 bonds, which although often grouped among the types of insurance, actually aren’t even a type of insurance at all. As one of Ohio’s leading SR22 providers, SR22 Bond of Ohio has collected some of the things that set this unique bond apart from traditional types of insurance.
How is SR22 Different?
Firstly, SR22 bonds are different from regular insurance because they’re an addition to the auto insurance you already have. An SR22 bond is basically a statement filed with the Department of Motor Vehicles on behalf of your auto insurance provider that you’re carrying the proper liability insurance required by your state.
Why Would One Need an SR22 Bond?
Often, drivers are ordered to obtain an SR22 bond when they’ve been charged with some sort of driving infraction, such as a DUI, DWI, moving violation, or other serious driving offense. It’s usually required by a judge for the driving privileges of the offender to be reinstated after their driver’s license has been revoked or suspended for a period.
SR22 bonds were created to help provide an added layer of protection from drivers who are thought to pose a greater risk than other motorists. Another reason why a driver may be forced to obtain an SR22 bond to get back on the road is if they’ve been involved in an accident and found to be driving without the proper auto insurance.
How Long Do Drivers Need to Have an SR22 Bond?
In most cases, the average time required for drivers to have an SR22 bond is around three years, although the timeframe may vary based on individual cases. There is a one-time fee that drivers will be required to pay but often, it can be taken care of with as little as $20.
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