What is SR-22 Insurance?
SR-22 insurance is a type of auto insurance coverage that is required by many states for drivers who have been convicted of a DUI or other serious driving-related offense. It is also known as a Certificate of Financial Responsibility (CFR) and is a document that is issued by an insurance company to the state DMV verifying that you have the minimum amount of liability insurance coverage as required by law. SR-22 insurance is required for a minimum of three years and it is not available in all states. It is important to understand that having an SR-22 does not mean that you are covered for any damages or injuries that you may cause in an accident. It simply means that you have the required coverage.
Who Needs SR-22 Insurance?
In most states, if you have been convicted of a DUI or other serious driving-related offense, you will need to obtain SR-22 insurance. Other offenses that may require SR-22 insurance include reckless driving, hit-and-run, excessive speeding, and driving without insurance. If you have been involved in any of these offenses, you should contact your state DMV to find out if you need to file an SR-22. Additionally, some states also require SR-22 insurance for drivers who have had their license suspended or revoked due to multiple traffic violations.
How Much Does SR-22 Insurance Cost?
The cost of SR-22 insurance varies depending on the insurance company and the state in which you live. Generally, it is more expensive than regular auto insurance coverage. The cost also depends on the type of coverage you choose and the number of years you need to keep the SR-22 on file. Generally, you can expect to pay between $15 and $50 per month for SR-22 insurance. The exact cost will depend on the insurance company and the state in which you live.
How Do I Get SR-22 Insurance?
In order to obtain SR-22 insurance, you must first contact your state DMV to find out if you are required to file an SR-22. Once you have been notified that you must file an SR-22, you will need to contact an insurance company that offers this type of coverage. Most major insurance companies offer SR-22 insurance, but it is important to compare rates to ensure you are getting the best deal. Once you have chosen an insurance company and purchased your coverage, the insurance company will file the SR-22 with your state DMV.
Can I Cancel My SR-22 Insurance?
Yes, you can cancel your SR-22 insurance at any time. However, if you cancel your policy before the required three year period has expired, the state DMV will be notified and you may be subject to additional penalties, such as license suspension or revocation. Additionally, if you do not maintain the required coverage for the three year period, your license will be suspended or revoked. It is important to remember that SR-22 insurance is not an optional insurance policy and must be maintained for the entire three year period.
What Happens After the Three Year Period?
Once the three year period has expired, you will no longer need to maintain SR-22 insurance. However, it is important to note that you may still be required to file a form with your state DMV to prove that you have maintained the required coverage for the full three year period. Additionally, it is important to understand that any future driving-related offenses can still result in you being required to obtain SR-22 insurance again.
Conclusion
SR-22 insurance is a type of auto insurance coverage that is required by many states for drivers who have been convicted of a DUI or other serious driving-related offense. It is important to understand that having an SR-22 does not mean that you are covered for any damages or injuries that you may cause in an accident. Additionally, it is important to remember that SR-22 insurance is not an optional insurance policy and must be maintained for the entire three year period. If you have been notified that you must file an SR-22, contact an insurance company that offers this type of coverage to ensure you are getting the best deal.