The Ultimate Guide To SR-22 Insurance
SR-22 Bond of Ohio condenses all you need to know about SR-22 insurance in this quick guide.
What Is An SR-22 Form?
An SR-22 form is a certificate issued by an insurance company verifying that its holder has auto insurance coverage. The requirement of an SR-22 is usually mandated by the law for those who are considered high-risk drivers. High-risk drivers are those who have been charged for driving-related faults such as rash driving, not abiding by the traffic rules, DUIs, etc.
What Causes an SR-22 Mandate?
As established, an SR-22 mandate is imposed by the court on high-risk drivers for the protection of others on the road. Some of the most common reasons of being required to obtain SR-22 insurance include:
- Driving without insurance
- Drunk driving
- Regaining your license after revocation
- Reckless driving
- Involvement of an uninsured vehicle in an accident
- Not having liability insurance for your vehicle
- Being a repeat offender
What Is the Difference Between SR22 and Auto Insurance?
It is common for people to think of an SR-22 form as the same as insurance. However, that is incorrect.
An SR-22 is just a certificate verifying that the holder has an auto policy in place. Thus, you need to buy separate insurance coverage to get an SR-22. The minimum coverage required for a policy, in this case, is usually prescribed by the state.
SR-22: How to Get It and How Much it Costs
To get an SR-22, the first thing you need to do is to buy an auto insurance policy of the minimum amount as prescribed by your state. You can then apply for the SR-22 via the same company. Be sure to choose an insurance company that provides the option to file for an SR-22.
Getting an SR-22 can affect your premium rates. Since you are required to hold this certificate only if you are a high-risk driver, it is natural for your premium rates to be higher than others. Additionally, there are a number of other costs, such as filing fees and commissions, involved that can hike up your overall expense.
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