If you have a DUI or another serious offense, it may be necessary to seek out something called SR-22 insurance. Despite the name, SR-22 insurance isn't an insurance policy; it's a document that shows you carry at least the minimum liability insurance your state requires. What you need to do to get SR-22 insurance varies depending on your state of residence. You'll also likely see higher rates if you have to go through this process. If you require SR-22 insurance, here's what you need to know.
Not All Insurance Companies Offer It
The first thing you need to know about SR-22 insurance is that not all insurance companies offer this service. If you already have auto insurance, it's a good idea to give your current insurer a call and ask about your options. If your insurer doesn't offer this type of policy or you do not currently have auto insurance, you will need to search for an insurer who will file SR-22 forms. Some insurance companies specialize in working with high-risk drivers and may be worth looking into if you struggle to find a policy.
Insurance Costs Will Be Higher
The cost of your insurance premiums will likely be higher if you need an SR-22 form. How much higher your auto insurance costs will de depend on your driving history, the infraction that led to the requirement, and other factors. Requirements can increase your auto insurance costs by up to 18 percent. Filing the SR-22 with the state costs $15 to $25. Your insurance company will typically file the form on your behalf.
How Long The Requirement Lasts
Another thing to know is how long your SR-22 requirement lasts. In most cases, you will need SR-22 insurance for three years. During this time, you will need to keep your auto insurance policy active, or you could end up losing your license. Once you no longer require SR-22 insurance, you need to let your auto insurer know. Right after the requirement expires is an excellent time to evaluate your policy and possibly look for cheaper alternatives since your rates should go down once you no longer require SR-22 insurance.
If you need SR-22 insurance, here are three things to know. First, not all auto insurance companies offer SR-22 insurance, and you may need to look for a new insurer. Second, SR-22 insurance will usually mean higher premiums. Finally, it is crucial to know how long you require SR-22 insurance since you need to let your insurance company know when it's no longer necessary.