Traditional car insurance is there to protect us if we are involved in an accident or if our car gets damaged by other causes such as weather, theft, or vandalism. SR-22 insurance, on the other hand, is not a category of car insurance.
Instead, it is a certificate that serves as a promise that you are properly insured. An SR-22 usually becomes a requirement after a driver has committed a series of serious traffic violations.
Here is what you need to know about SR-22 insurance.
What Is SR-22 Insurance?
If you have been getting into too much trouble on the road, you might be required to file an SR-22. Otherwise known as a “Certificate of Financial Responsibility,” an SR-22 is a proof of insurance verifying that you are meeting the minimum car insurance requirements in your state.
An SR-22 is not the same as your typical form of proof of insurance, such as an insurance identification card issued to you by your insurance company. Your insurance ID card serves as proof that your current insurance is valid, whereas an SR-22 certifies that you will continue to meet the minimum car insurance requirements for a certain amount of time. Once an SR-22 is filed under your name, you are usually required to have it for a minimum of three years.
Due to the nature of this certificate, an SR-22 is more involved than your standard proof of insurance and involves meeting a longer list of requirements.
Why Is It Called SR 22 Insurance?
If you have ever heard an SR-22 be referred to as SR 22 insurance, you may be inclined to think that it is a type of insurance. In actuality, an SR-22 is a certification of insurance.
That being said, the process of obtaining an SR-22 requires you to search for an insurance company to file the certificate for you. Following through with this task can feel a lot like the average experience of shopping for car insurance. For this reason, many insurance providers might refer to this process as “SR 22 insurance.”
Who Is A Candidate For An SR-22 Filing?
Drivers who have committed a series of serious traffic violations ultimately may have to file an SR-22. The following reasons can cause you to have to file for an SR-22:
- You get convicted of driving under the influence (DUI).
- You get convicted of driving while intoxicated (DWI).
- You are caught driving with no car insurance.
- You are in a severe car accident, especially if someone was injured.
- Your license gets suspended or revoked.
- You have a large amount of violation points on your driving record.
The standard amount of time that you are required to have an SR-22 certificate in most states is three years. If you succeed in persisting during those three years without any traffic violations, you will not need to file an SR-22 again once you reach the end of your three years.
How Do I Get An SR-22 Filed?
SR-22 certificates can only be filed by your insurance company in order to make certain that you are not providing false information regarding your car insurance status.
If you are notified that you will be required to file an SR-22, you must find an insurance company who will file it for you.
Will An SR-22 Raise My Insurance Premiums?
Since SR-22 certifications are filed as a result of a driver committing serious traffic violations or being involved in critical car accidents, your car insurance premiums might be significantly higher than average.
In some cases, car insurance companies might not want to cover you if they know they must file an SR-22, so be prepared to shop around. SR-22 drivers are viewed by insurance companies as high-risk drivers, and many insurers in the open market will not be willing to cover you.
How Can I Find An Insurance Company That Will Cover Me?
Being considered a high-risk driver can make it hard to find insurance coverage through the open market. Luckily, most states have their own automobile insurance plan to make sure that high-risk drivers have access to car insurance.
These programs consist of various car insurance companies in your state who ban together to share the risk of insuring high-risk drivers. You can usually apply for these programs through any licensed agent or car insurance company in your state of residence.
Keep in mind that purchasing insurance through these programs will likely be more expensive than buying through the open market, so only go down this road if it is your only option.