The term “SR22 insurance” is actually quite deceptive in as such that it is not actually an insurance type. Rather, it is filing that is attached to regular car insurance. This can be a legal requirement following certain specific circumstances.
What Is an SR22 Filing?
Simply put, this type of filing is made by the DMV to a vehicle insurance company on the policy of a driver, either on their own vehicle or on a non-owner policy. When it has been filed, it proves to the state that the driver has the liability insurance they must have.
Why Do You Need an SR22?
The DMV may require SR22 insurance on individuals who need to prove they are worth of driving privileges. This happens when a driver is classed as high risk to other drives, motorists and road users. It is almost always a requirement for people who have their licensed returned following a DUI conviction, or if they have caused an accident while driving without insurance in the past. Simply put, the SR22 ensures that someone who is high risk will only get behind the wheel with proper insurance in future.
How Long Do You Need an SR22?
In most cases, if someone needs an SR22, they will need to carry it for at least 3 years. After this, the filling can be removed from the insurance policy itself.
How Much Does an SR22 Cost?
SR22 is a filing, rather than a separate insurance. This means that you do not have to pay any monthly premiums. All you will need to pay is your regular insurance policy premiums, as well as a one-time only fee of around $20. This is a filing fee. After that, there are no further costs associated with holding an SR22. However, if you are forced to have an SR22 filing, it is likely that your insurance premiums will be much higher than average. Not because you have an SR22, but because you have a history of DUI, driving without insurance or other problems.
What Happens after Cancellation of the SR22?
During the three years that you have the SR22 filing, the DMV will revoke your driving license if the SR22 filing is cancelled. In this case, if you want to be able to drive again, you will need a new SR22 filing as well. Once this is received, the DMV will reinstate your license again. This means you will also have to pay the $20 filing fee and you must pay a reinstatement fee to the DMV, which is around $55. If your policy lapses because you haven’t kept up with your monthly payments, the DMV may also revoke your driving license, and the same rules will apply.
Who Offers SR22 Filings?
Different insurance companies offer SR22 filings. It is very important that you spend a little bit of time to compare quotations. You insurance premiums, as stated, will already be higher than in other insurance policies, and you will want to make sure that you don’t pay over the odds.