What is an SR22 or Certificate of Financial Responsibility?
Understanding SR22 Insurance
SR22 insurance isn’t a typical insurance policy; it’s a certificate verifying that you carry the minimum required auto insurance coverage in your state. It’s often required after license suspension due to violations like driving under the influence (DUI), driving without insurance, or accumulating too many points on your driving record. Think of it as proof to the state that you’re financially responsible.
Who Needs SR22 Insurance?
You might need SR22 insurance if the court or your state’s Department of Motor Vehicles (DMV) requires it. Common reasons include:
- DUI or DWI convictions
- Driving without insurance
- Reckless driving
- Multiple traffic offenses in a short period
- License reinstatement after suspension
Finding Affordable SR22 Insurance
While SR22 insurance indicates a higher-risk driver, finding affordable SR22 options is still possible. Comparison shopping is key. Insurance companies vary in how they assess risk and calculate premiums. Obtain quotes from several insurers to see which one offers the most competitive rate for your specific situation.
How SR22 Insurance Works
Once you obtain SR22 insurance, your insurance company electronically files the SR22 certificate with the state. It confirms you meet the state’s minimum insurance requirements. It’s crucial to maintain continuous coverage during the SR22 period, which typically lasts for three years. If your policy lapses or is canceled, the insurer notifies the state, potentially leading to a license suspension.
It's time for your estimate!
Understanding SR22 Insurance
SR22 insurance isn’t a typical insurance policy, but rather a certificate verifying that you have the minimum required liability coverage in your state. It’s often required for drivers who have committed serious traffic offenses.
Who Needs SR22 Insurance?
You may need SR22 insurance if you:
- Have been convicted of driving under the influence (DUI)
- Have had your license suspended or revoked
- Were caught driving without insurance
- Have accumulated too many points on your driving record
- Caused an accident while uninsured
How SR22 Insurance Works
To get SR22 insurance, your insurance company files an SR22 form with your state’s Department of Motor Vehicles (DMV). This form confirms that you have the required insurance coverage. If your policy lapses or is canceled, the insurer is required to notify the DMV, which could lead to suspension of your license. Maintaining continuous SR22 insurance coverage is critical to avoid further penalties. The duration you’re required to carry SR22 insurance varies, but it’s typically three years.