You might know a few things about SR-22 insurance coverage. Most people will after all only bother understanding what it entails when they need it. The SR-22 insurance or certificate of financial responsibility (CFR) is not necessarily a form of car insurance.
It is instead a state-mandated certificate which is filed with your state’s motor vehicles’ department. It is your regular type of car insurance with the SR-22 form attached to it. The need for the SR-22 insurance for most Arizona residents arises from a DUI conviction.
It might also follow being caught driving a car without insurance, driving with a suspended or revoked license and too many traffic tickets within a short timeframe. The coverage might also follow a court-ordered suspension of your driving license for alcohol and drug possession in your vehicle. Here are other tidbits on the SR-22.
How do you get the SR-22?
You will get your SR-22 through an insurance provider since they are the only one allowed to file your form with the state. If, however, you move from one state to another, you will have to meet the SR-22 requirements of your former state. The liability limits of an SR-22 in your new state should also meet the minimum legal requirements in your former state.
How much does it cost?
Auto insurers will pay an extra fee for the filing of your SR-22 with the state. Moreover, your state’s licensing bureau might charge a reinstatement fee for the filing. You will however certainly pay a higher premium than that of regular insurance with an SR-22 since you are considered a high-risk driver.
If you have not had any traffic violations within a set timeframe, your insurer might consider lowering your insurance premiums. Older car models also attract lower SR22 insurance premiums compared to newer models.
How long will it be required?
An SR-22 requirement will fortunately not last forever. Most states require you to have it for 1–5 years with an average of three years in most states. The date of the period’s start varies among states.
Some might begin counting from the time of your traffic violation or your conviction, while others start from the date of your licenses’ suspension. Ensure you know when the period of your SR-22 expires since you can be penalized for stopping the premium payments before the time lapses.
What are the types of SR-22 certifications?
There are three forms of SR-22 certifications, including non-owner, owner and operator or owner policies. The non-owner certification covers a policyholder and not the vehicle and is meant for those who hire cars.
The SR-22 owner certification covers those who will exclusively operate their vehicles, while the operator or owner covers those who own cars but will occasionally rent another one. Even after getting SR-22 insurance, ensure you do not rack up more traffic offenses.
You should have your insurance on you at all times, drive at a required speed limit and do not repeat the crimes which got your license suspended in the first place.
These steps will help you reduce your SR-22 premiums and reduce the risks of jeopardizing your insurance and prolonging the period you will be legally required to have it.