What is an SR-22? Haines-Craft Agency can provide an SR-22.
Most people probably have a hazy idea of what an SR-22 is. Maybe you’ve had a friend who needed one or you understand vaguely that it has to do with car insurance.
Here are a few SR-22 insurance basics to help keep you in the know.
Haines-Craft Agency can provide an SR-22 and this is what it is?
An SR-22 — also known as SR-22 insurance or Certificate of Financial Responsibility (CFR) — isn’t a type of car insurance, but verification that you’re maintaining car insurance liability coverage. An SR-22 form is a state-mandated certificate filed by your car insurance carrier with your state’s Department of Motor Vehicles (DMV).
Who needs an SR-22?
An SR-22 is required when someone who was in an accident or convicted of a traffic offense couldn’t show financial responsibility. For example, you’d need an SR-22 if you were caught driving without insurance .
You might also need an SR-22 if you had any of the following:
A DUI or DWI or any serious moving violation
An at-fault accident while driving without insurance
Repeat traffic offenses or too many tickets in a short time period
A revoked or suspended license
What does an SR-22 cost?
Though it varies by state, car insurance companies will typically charge a nominal fee of $15 to $25 for filing an SR-22 form.
If you need an SR-22, however, you’ll first need to purchase a car insurance policy. Your car insurance rate will be determined based on all the factors that normally go into rating a policy. However, keep in mind that car insurance companies generally consider drivers who need an SR-22 riskier to insure, so your car insurance rates will likely reflect the risk.
Haines-Craft Agency can provide an SR-22.
Additionally, if you have an SR-22 in one state but move to another, you’ll need to fulfill the SR-22 requirements for your former state, and your new liability limits will need to meet the minimums required by law in your former state.
How long does an SR-22 have to be maintained?
Most states require drivers to carry SR-22 insurance for 3 years. In that time, continuous coverage must be maintained. If there is an insurance lapse or cancellation, your car insurance company is legally obligated to notify the DMV and your license will be suspended.
How can I avoid an SR-22 requirement?
You can avoid the complication and expense involved with an SR-22 filing by simply maintaining your car insurance and practicing safe driving.