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What is an SR22 And What Does it Cover?

If you look through the service tabs of an insurance company’s website, you see such insurance coverages for your auto, home, and business needs. You may also find a tab advertising their SR22 services. While an SR22 isn’t an insurance policy itself, it’s a valuable and necessary document that is required to get insurance after a serious traffic violation, license suspension, or both.

An SR22 is between the insurance company and the state’s DMV rather than the insurance company and clients. The state is also more in the loop about your insurance policies when you carry an SR22. All the SR22 does is certify that you carry more than your state’s required liability insurance while driving, which you would have bought beforehand from an insurer.

When Should You Buy SR22 Coverage?

With SR22, it’s never when you should buy it -it’s when you have to buy it. SR22s are required by law for certain drivers in certain cases.

Such cases when an SR22 is required by the DMV are:

  • Driving with no license
  • A DUI or DWI (driving under the influence)
  • Driving with no auto insurance
  • Accumulated too many tickets or traffic violations

Where do You Buy SR22 Coverage?

SR22s are purchased from any local or national insurance company, though some companies may have stipulations. You can’t be certified that you carry insurance unless you actually have a basic liability policy with total financial responsibility for the monthly rates. You have some options here: buy a new policy from another insurance company or continue with your current insurance company if they haven’t canceled your policy. Note that your new rates will be higher as a high-risk driver with an SR22. Once you buy SR22 Insurance, the insurance company will file it with your state’s DMV.

How Much Does an SR22 Cost?

We’ve already mentioned the higher premiums due to being a high-risk driver with a suspended license or DUI. Too many traffic violations and even getting caught driving without insurance once can also result in license revocation. Let’s say that your license is suspended and you need an SR22 after getting basic coverage. Insurance companies charge a filing fee with the DMV averaging anywhere from $25 to $50. The DMV also charges a license reinstatement fee of anywhere between $100 to $400 depending on the state. SR22 Insurance rates can run up to at least $230 a month. You also may be subject to other fees during the process.

What Does an SR22 Cover?

SR22 and its basic coverage are there to provide protection for those you injure or property you damage. In most of the United States, basic liability coverage is the law and mandatory for all drivers to carry it in certain states. Full coverage includes comprehensive and collision policies that provide insurance for your own injuries and property damage in the same accident cases. That can be added to your coverage at added cost. It helps to shop around for the best quotes among insurance providers and compare them to find the best budget option for you. For drivers without a car, you may be required to purchase non owners SR22 Insurance coverage.