What Is SR22 Insurance?

Did you know the average cost of car insurance in the United States is almost around 1,800 USD?

With a house to pay for, bills, and other luxuries, the average American has very little to spare on their annual car insurance policy. This is why non-owners have an enthusiastic affinity for SR22 insurance or a similar policy.

But what is it? What does it do? How do you qualify for it?

We’ll answer each of these to shed some light on this handy vehicle insurance policy.

What Is SR22 Insurance?

It is a document that is filed by your insurance company with the state to show that you have the minimum amount of insurance coverage required. If you want to save on SR22 insurance, you can find more info right here.

If the state requires you to have SR22 insurance, you will need to maintain it for a certain period of time, typically three years. The state will suspend your license if you do not maintain your SR22 insurance.

Not a Specific Insurance Policy

SR22 insurance is not a specific insurance policy. It is simply a document that you can file with the state. The insurance company will certify that the driver has the minimum amount of liability insurance required by law.

The SR22 endorsement ensures that the driver is carrying the minimum amount of auto insurance required by the state.

A Type of High-Risk Insurance

SR22 insurance is a type of high-risk insurance that the state asks for drivers who committed certain traffic violations. SR22 insurance is not a different type of insurance coverage but is simply a document that is filed with the state by the insurance company that certifies that the driver has the minimum amount of liability insurance required by law.

Typically Costs More Than Regular Insurance

If you are required to have an SR22, it typically costs more than regular insurance because you are seen as a high-risk driver. High-risk drivers are more likely to get into accidents, so insurers charge more to cover them.

An SR22 is typically only required for a short period, after which you can get regular insurance again.

Certificate of Financial Responsibility

SR22 insurance proves to the state that you have the financial responsibility to cover the costs of damages. If the law requires you to submit SR22 insurance, this means you just experience an accident.

The SR22 policy is a guarantee to the state that you will be able to pay for any damages that may occur as a result of an automobile accident.

Get Affordable SR22 Insurance

SR22 insurance is a specialized type of automobile insurance. It is typically required for drivers who have had their licenses suspended or revoked due to DUI or other serious violations. SR22 insurance is not a specific insurance policy, but high-risk insurance.

It typically costs more than regular insurance. It is also known as a certificate of financial responsibility. 

Do you like this SR22 article? If so, make sure to check out some of our other articles on different topics.