What Is A Sr22 Insurance

What Is SR22 Insurance?

SR22 insurance is a type of car insurance that is required by high-risk drivers. It is also known as a Certificate of Financial Responsibility (CFR). A SR22 is proof that you have the minimum amount of liability coverage required by your state. It is usually required if you have been convicted of a DUI or other serious violations or if you have multiple tickets or traffic violations. It is generally more expensive than a standard auto insurance policy and is used to protect other drivers from your reckless driving.

How Does SR22 Insurance Work?

When you purchase a SR22 insurance policy, the insurance company will file a form with the state. This form states that you have the minimum amount of liability coverage required by the state. The form is then sent to the Department of Motor Vehicles (DMV) in your state. The DMV then sends you a notice that you are now required to carry SR22 insurance.

Once you have the SR22 insurance policy, it must be kept in force for at least three years. If the policy is canceled or lapses during that time, the insurance company must notify the DMV. The DMV will then suspend your license until you can provide proof of another SR22 insurance policy.

What Is The Cost Of SR22 Insurance?

The cost of SR22 insurance varies by state and by insurance company. Generally, the cost of SR22 insurance is higher than a standard auto insurance policy because it is for a high-risk driver. The cost of SR22 insurance can range from a few hundred dollars to a few thousand dollars per year.

It is important to shop around and compare rates from different insurance companies to ensure that you are getting the best rate possible. It is also important to understand that the cost of SR22 insurance can go up if you are involved in another traffic violation or accident during the three-year period.

Do I Need SR22 Insurance?

Whether you need SR22 insurance depends on your state and your driving record. If you have been convicted of a DUI or other serious violations or have multiple tickets or traffic violations, you may be required to obtain SR22 insurance. It is important to check with your state’s DMV to find out if you are required to have SR22 insurance.

Conclusion

SR22 insurance is a type of car insurance that is required by high-risk drivers. It is more expensive than a standard auto insurance policy and is used to protect other drivers from your reckless driving. The cost of SR22 insurance varies by state and by insurance company. Whether you need SR22 insurance depends on your state and your driving record. If you have been convicted of a DUI or other serious violations or have multiple tickets or traffic violations, you may be required to obtain SR22 insurance.