Insurance

Things You Should Know About SR-22

Posted by on Jun 14, 2015 in Insurance | 0 comments

Nobody seems to know what the S and R in SR-22 stand for (although you could make some educated guesses), but that is not really important as long as you know what it is. An SR-22 is a certificate of financial responsibility that an insurance company issues to the Secretary of State on behalf of a motorist who is considered a “high risk.” These types of drivers are required an SR-22 in order to get back a suspended license, or to renew it.

Of course, in order to get it, you first have to buy car insurance from the company. The SR-22 is not a replacement for the insurance; merely a statement that you do have the required insurance. The SR-22 form may differ slightly from state to state, but according to Madison car accident lawyers, as long you can get the liability coverage your state requires, you are good.

In most cases, you will be required an SR-22 if you demonstrate bad judgment on the road. It could be for a serious moving violation such as driving under the influence of an intoxicant, driving without the requisite insurance, three or more traffic tickets over a short period, or driving on a suspended or revoked license.

The SR-22 itself is not expensive, ranging from $15 to $25. However, your insurance premiums will skyrocket if you ask an insurance company for an SR-22. Insurance companies do not like to cover high-risk drivers because they do not like to pay out, which they are more likely to do with a driver that needs an SR-22! Some insurance companies do not even offer SR-22 coverage.

Your best bet is to go with a state-approved insurance company specializing in issuing SR-22 certificates. They are most likely to give you the best rates and provide you with reliable customer service and coverage. Most importantly, try to be a more responsible driver to avoid trouble in the future.

Read More