SR-22s are a form of proof for the minimum required auto liability insurance.
What is an SR-22?
An SR-22 is a document that verifies the possession of adequate personal auto liability insurance, which may be mandated by the Department of Motor Vehicles in your state. This document is also referred to as a filing, bond, form, certificate of insurance, certificate of financial responsibility (CFR), or simply as an SR-22. Liability insurance constitutes the segment of an auto insurance policy that offers coverage for property damage or bodily injury for which you are liable. While the majority of drivers do not require SR-22 filings, individuals classified as high-risk may need to undertake this additional measure. Each state has distinct requirements, and in certain situations, filings may be necessary across multiple states.
Factors that lead to a high-risk classification.
Individuals who maintain a clean driving record and have no traffic infractions are generally not classified as high-risk drivers and are not required to obtain an SR-22. There are several factors that may lead a person to encounter such circumstances. These factors include:
- Having a DWI or DUI on record.
- At-fault accidents.
- Reckless driving.
- Driving under a suspended or revoked license.
- Driving without insurance.
- Numerous smaller incidents in a short period of time.
- Failure to pay court-ordered child support.
There are multiple kinds of SR-22s.
There are three distinct categories of SR-22 filings. The first category pertains to individuals who own and operate their personal vehicles. The second category is designated for operators, which applies to those who do not possess a vehicle but occasionally rent or borrow one. Lastly, the third category is the owner/operator filing, intended for individuals who own a vehicle yet may also rent or borrow another.
How much does an SR-22 filing cost?
The expense associated with an SR-22 can differ significantly across various states. In certain instances, a filing fee may be incorporated into your auto insurance policy premium. Additionally, it is important to consider that your driving history may influence your premium; if classified as high-risk, an insurance provider may impose a higher rate. It is worth noting that not all auto insurance companies offer SR-22 filings or coverage for high-risk drivers. Should you require assistance with the SR-22 filing process, we are available to help. Please reach out to us for further information.