What Is SR-22 Insurance 2024 While being required to have SR-22 insurance does not necessarily imply that you are a “bad driver,” it typically means that insurance companies perceive you as a high-risk driver. Several reasons could lead to this classification, including having a DUI conviction, causing an accident while driving without insurance, or reinstating your license after a suspension. If any of these apply to you, then you may be required to obtain SR-22 insurance before you can legally drive again. This type of insurance is essentially a certificate that proves you have the minimum amount of liability coverage required by law in your state. It serves as proof of financial responsibility and assures the state that if you cause an accident, the other party will be compensated for their injuries or damages.
What Is SR-22 Insurance 2024?
An SR-22 is a document that your auto insurance company submits to the state to demonstrate that you meet the state’s minimum requirements for car liability insurance. It may also be referred to as an “SR-22 bond” or “certificate of financial responsibility.” The term “SR-22 insurance” is misleading as it is not insurance itself, but rather impacts your car insurance. When people talk about SR-22 insurance, they are generally referring to a car insurance policy that includes the insurer filing the SR-22 form for the driver. Further complicating matters, Florida and Virginia use the SR-22 but also have a form known as FR-44, which is similar to an SR-22 but necessitates higher levels of car insurance coverage.
How Much Does SR-22 Insurance Cost?
Filing an SR-22 is usually affordable, with an average cost of around $25, but the specific amount can vary depending on the state and insurance provider. Having an SR-22 will generally lead to higher auto insurance premiums, and the increase will be linked to the underlying issue that necessitated the SR-22. For instance, if you have a history of causing accidents, accumulating moving violations, driving uninsured, or a DUI conviction, you can expect to pay more for car insurance due to these specific issues, irrespective of the SR-22. On average, the annual cost of SR-22 insurance for a driver with a DUI conviction is $3,270, based on an analysis of major insurers. The breakdown of SR-22 insurance costs by company for a driver with a DUI conviction is also provided, with the majority of the cost increase being attributed to the DUI itself, as the SR-22 fee is relatively low in comparison.
Average cost of SR-22 insurance with a DUI
If your need for an SR-22 is not connected to a traffic offense or a gap in auto insurance coverage, it may not significantly influence your car insurance premiums. For instance, if a court mandates an SR-22 filing due to failure to pay child support, it will not impact your auto insurance rates.
How Much Does SR-22 Insurance Cost by State?
The price of car insurance for individuals requiring an SR-22 can differ significantly based on the state. After examining the average car insurance costs nationwide for drivers who need an SR-22 following a DUI conviction, it was found that Idaho offers the lowest rate at $2,174 annually for SR-22 insurance. On the contrary, California has the highest rates, averaging $5,593 per year.
Some states may require you to file an SR-22 even if you don’t own a car or before the state restores your driving privileges if your license is suspended. You may be able to purchase a non-owners car insurance policy to meet this requirement and get the SR-22.
Which Car Insurance Companies Offer SR-22 Insurance?
Here are some insurance companies that generally are willing to file SR-22s:
- Allstate
- American Family
- Auto-Owners
- Dairyland
- Direct Auto
- Erie
- Farmers
- Geico
- The General
- Progressive
- Nationwide
- Safe Auto
- State Farm
- USAA
Which Companies Offer the Cheapest SR-22 Insurance?
USAA has the cheapest cost for SR-22 for drivers with a DUI conviction. Progressive and American Family are also worth checking out if you don’t qualify for a policy with USAA.
How to get a cheap SR-22 insurance quote
Comparing car insurance quotes from multiple companies is essential in finding affordable SR-22 insurance. Different car insurance companies will take into account the reason for your SR-22 requirement when determining your insurance rates, and each company will have its own method of calculating rates. For example, a DUI conviction might result in a minor increase in rates at one insurer but could lead to significantly higher costs at another. You can obtain free quotes online or through an independent insurance agent. When obtaining an insurance quote, check if there is an option to request the SR-22 or ask an agent to confirm that the company provides SR-22 filings. It’s important to ensure that you are taking advantage of all available car insurance discounts. Speak with an agent to inquire about any potential discounts that could help lower your car insurance expenses.
Who Needs SR-22 Insurance?
An SR-22 is typically ordered by a court or state. Either the judge will notify you or you’ll get a letter from your state DMV. Common reasons you might be required to file an SR-22 include:
- Conviction for driving while intoxicated or under the influence of drugs.
- Serious traffic offenses (like reckless driving) or repeat traffic offenses.
- Causing too many car accidents.
- Causing a car accident while driving without insurance.
- Reinstating your license after having it revoked or suspended.
- Having a hardship license, such as a temporary license restricts your driving hours because of a license revocation or suspension.
- Not paying court-ordered child support.
How Do I Get an SR-22?
If you already have car insurance: Notify your state by having your insurer submit the document. Inform your insurance provider of your requirement for an SR-22 and be prepared for a fee, as not all car insurance companies offer SR-22s, necessitating a potential switch.
If you need to buy car insurance: You must inform the insurance company about the need for an SR-22. The insurance application should include a question about requiring an SR-22 or Certificate of Financial Responsibility. If your new insurer accepts SR-22 drivers, they will handle the filing of the SR-22 for you, for a fee.
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How Long Do I Need to Have an SR-22?
The specifications for obtaining an SR-22 will differ depending on the state, but typically, you must maintain both your SR-22 and auto insurance coverage for a minimum of three years. Here are a few points to consider:
- Failure to comply with the terms of an SR-22 could result in your driver’s license being suspended.
- If your car insurance policy lapses or expires during the term of your SR-22, your insurance company is required to notify your state’s DMV. Your license will remain suspended until your insurance is reinstated.
Once you meet the terms of the SR-22 for the time period required, your SR-22 status will be removed.
How Do I Get My SR-22 Removed?
You are required to meet the time stipulations for holding an SR-22 before requesting your insurance provider to eliminate it. The duration for which you will need to maintain an SR-22 varies by state, but once the requirement is satisfied, it may not be automatically removed from your insurance. It is important to contact your insurance company to request the removal of the SR-22 (and any associated fees) from your policy. Removing the SR-22 prematurely could result in a state-imposed license suspension, so it’s crucial to verify with the state or DMV if you do not receive notification when the required duration has passed.
Summary
We used data from Quadrant Information Services, a provider of insurance data and analytics. Unless otherwise noted, rates are based on a 30-year-old driver with a DUI conviction and requirement to file an SR-22 who is insuring a new Toyota RAV4. Rates include $100,000 in bodily injury liability coverage per person, $300,000 per accident and $100,000 in property damage liability (known as 100/300/100), uninsured motorist coverage and any other coverage required in the state. The rate also includes collision and comprehensive insurance with a $500 deductible.
What Is SR-22 Insurance 2024 Faqs
How much will an SR-22 increase my insurance?
The cost of the SR-22 filing is usually low, around $25, but the need for an SR-22 generally leads to higher car insurance premiums. For instance, if your state mandates an SR-22 following a DUI conviction, you should anticipate a substantial rise in car insurance expenses as a result of the DUI. Our examination of insurance premiums indicates that a driver with a DUI and SR-22 can anticipate an average yearly increase of approximately $1,400 compared to a driver with a clean driving history and no SR-22.
How much does SR-22 insurance cost per month?
The average cost for SR-22 insurance after a DUI conviction is $273 per month, according to our analysis of large insurers. USAA has the cheapest cost at $231 per month, but Progressive ($241 per month) and American Family ($254 per month) are also worth checking out. USAA limits its policies to those in the military, veterans and their families. Compare car insurance quotes to see which company will offer you the best monthly rates for SR-22 insurance.
Does SR-22 insurance cover any car that I drive?
Yes, SR-22 insurance covers you in any car you drive. SR-22 insurance is really just a standard car insurance policy with the addition of an SR-22 form filed with the state to prove you have the mandated coverage in place.
However, if you don’t own a car and buy non-owner car insurance to fulfill the SR-22 requirement, that policy is good only for cars you borrow or rent. You would need to convert your non-owner car insurance policy to a traditional auto insurance policy if you buy a car.
What’s the difference between an SR-22 and proof of insurance?
An SR-22 is technically proof of insurance, but it’s different from a standard proof of insurance. An SR-22 is a form that your car insurance company must file with your state proving you have at least the state’s required minimum auto insurance. A state or a court could order you to file an SR-22 for reasons such as a DUI conviction, at-fault accidents or driving without insurance.
What if I don’t own a car but I’m ordered to file an SR-22?
If your state or a judge orders you to file an SR-22 form but you don’t own a car, look into non-owner car insurance. With a non-owner policy, you’ll have your state’s minimum liability car insurance and be able to show proof of insurance.
Is an FR-44 the same thing as an SR-22?
An SR-22 mandates that drivers have at least the minimum car insurance required by the state, while an FR-44 necessitates much higher coverage limits. Florida and Virginia are the only states that utilize an FR-44 (they also utilize an SR-22). In Virginia, drivers who need an FR-44 must maintain car insurance coverage limits that are double the state’s requirements. In Florida, drivers with an FR-44 must purchase car insurance with limits set at $100,000 per person and $300,000 per accident for bodily injury liability, as well as $50,000 for property damage liability (expressed as 100/300/50 by insurers).
