How to Know If You Need a Car Insurance with an SR-22 Requirement?
SR-22 Bond of Ohio explains all you need to know about an SR-22 requirement for car insurance.
What is SR-22?
SR-22 is a certificate needed by people who have had a number of moving violations. A driver like this is believed to be a risk to the general public and thus, in some states, the court can mandate them to obtain an SR-22. The SR-22 is essentially a document from your insurance agency that verifies that you have auto liability insurance.
Why an SR-22?
The prime function of the SR-22 is to protect other drivers in case any mishap occurs on road. The minimum level at which the car insurance with SR-22 is required to be maintained is prescribed by the law and the amount usually varies from state to state.
Overall, it is simple liability insurance that exists to cover the losses or damages caused to anyone because of an accident that you caused or were involved in. Depending upon the limit of the policy, it will help you cover the costs to that extent.
Comprehensive coverage exists to cover the damage and losses incurred on your vehicle and thus shield you in the event of an accident. On the other hand, an SR-22 is focused on protecting other people and their damages.
In a typical case, comprehensive car insurance is not a prerequisite for SR-22 insurance. However, there may be some cases, such as when your vehicle is on loan or lease, where you may be asked to have comprehensive car insurance in place to avoid the possibility of vehicle repossession.
It is best to thoroughly consult the courts as well as your car insurance provider to know more about an SR-22 requirement. This will help ensure that you make a well-informed decision that is in alignment with legal requirements. Be sure of your understanding of the requirements before making a final decision.
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