An SR-22 is paperwork that vehicle owners must submit to your state to demonstrate that they have vehicle insurance that meets the minimum coverage requirements set by law.
An SR22, also known as an “SR-22 Form,” “Certificate of Financial Responsibility,” or “SR-22 Bond,” isn’t insurance but rather a simple document obtained from your state’s department of motor vehicles.
How can I have it?
As SR-22 is a document that proves you have the minimum necessary automobile insurance in your state, you must first get car insurance before applying for the SR-22.
If you already have automobile insurance, your insurer can submit the paperwork with the state.
However, there will be a price for this service, and not all vehicle insurance companies will complete an SR-22, so you may need to transfer insurers.
If you need to get automobile insurance, you must inform the insurer about the SR-22 requirement.
For example, the insurance application could include a question such as “do you need a Certificate of Financial Responsibility or an SR-22?”
If your new insurance accepts SR-22 drivers, they will submit the SR-22 on your behalf (for a cost).
What are the requirements?
First of all, understand how an SR-22 affects your vehicle insurance coverage and rates. In California, for example, ordinary drivers pay an average of 166 percent more than auto coverage for SR-22 insurance after a DUI conviction.
In addition, California’s SR-22 is required for a minimum of three years. However, it may be needed for a more extended time based on the conduct circumstances and case.
Keep in mind that insurance companies will raise your vehicle insurance premiums for the period of your SR-22 filing. In addition, if you maintain a clean driving record and retain it for the appropriate length, you will no longer be needed to submit an SR-22 form.
Depending on the severity of your infraction, your vehicle insurance and coverage costs may gradually return to normal. DUIs, on the other hand, may stay on your record for a more extended period.
Furthermore, you may have a gap in coverage during the SR-22 filing period, or you or your insurance company may cancel the SR-22 insurance.
Your insurer may submit an SR-26 form in any of these instances. When this occurs, your insurer should notify you that you no longer have insurance with the organization.
If your company files an SR-26 before finishing your SR-22 requirement, you will have to start the SR-22 procedure again.
How much will it be?
The average cost of SR-22 insurance in California is $1,592, and it may almost quadruple after a DUI. Some can provide low-cost SR22 insurance that will save you money throughout your coverage. Cal Patriot Auto Insurance is always a great option.
The reason for this is that each insurer evaluates your driving history using its own criteria. On another note, California law bans companies from raising premiums or terminating their policy during its term.
As much as that is true, keep in mind that such protection expires when you renew your insurance, and if you have an SR-22 requirement, you may have to risk non-renewal or pay higher rates.
Anyone with a DUI conviction within the last ten years is ineligible for a good driver discount. This is because California law bans insurance companies from making such an offer to such people.
As a result, if you lose your good driver discount, you may pay higher rates even if your insurer renews your coverage.
Most California insurers impose a one-time SR-22 form filing cost up to $50, and you must pay at least $125 to have your license renewed.
So a DUI will instantly raise your rates without regard for further rate increases and exclude you from getting discounts, even if you were previously receiving a good driver discount.
For instance, instead of paying $100 per month for vehicle insurance, a motorist with no DUI history would only pay $80 per month owing to a 20% good driver discount.
Although, that changes after a DUI since the motorist will now pay $100 monthly, a 25% increase over their prior reduced rate.
Final words
In most cases, an SR-22 is suitable for the life of your insurance policy, so be sure to have it handy.
If your insurance coverage is canceled while you’re still obliged to carry an SR-22, you’re compelled to notify the proper state authorities.
If you don’t keep up with your insurance, you might lose your driving rights.
