Finance Blog
FAQ: SR-22 Auto Insurance Policy Certificate
Have you seen signs or commercials advertising an SR-22 in relation to your car insurance policy? Are you confused about whether it’s something new that you have to have for your insurance policy? This FAQ will explain what an SR-22 is and why you might need it.
What is an SR-22?
An SR-22 is not considered an insurance coverage part or an insurance policy. It is a certificate of insurance filed with the state that guarantees that you have the legally required insurance coverage for that state.
Why would a state require an SR-22?
An SR-22 is usually required for drivers who have something on their record that suggests they may not have the necessary insurance coverage. These activities might include:
- Application for a probationary permit while license is suspended.
- Conviction for driving without insurance.
- Conviction of a DUI, DWI, or other major alcohol offense.
- Conviction of multiple serious moving violations.
- Failure to carry liability insurance when involved in an accident.
- License reinstatement after a suspension or revocation.
- Habitual traffic offenses causing too many points on one’s license.
How do I get an SR-22?
The only way to get an SR-22 is from your insurance company. You must have purchased an auto policy from an insurance company in order to secure this form, and you are required to tell your current insurance company about the need for the SR-22 so the company can file it for you. All states except Delaware, Kentucky, Minnesota, New Mexico, New York, North Carolina, Oklahoma, and Pennsylvania may require a driver to obtain an SR-22.
How much does an SR-22 cost?
The SR-22 that the auto insurance company files for you typically costs between $15 and $50. The cost of the insurance policy you are required to carry, however, varies based criteria including type of vehicle, location, coverage amounts, and motor vehicle record.
How long will I need to carry an SR-22?
Typically, an SR-22 lasts one to five years. The actual length of time varies by state and by the severity of the offense. Your state’s department of motor vehicles (DMV) will indicate for how long you will need it and when the requirement begins.
What happens if my auto insurance is canceled?
If the auto insurance associated with an SR-22 is canceled, the insurer must file an SR-26 to inform the state of the cancellation. The state will then typically penalize you by suspending your driver’s license and/or vehicle registration.
What happens if I move?
If you are required to carry an SR-22 and you move to another state, you must still maintain the SR-22 requirement for your former state. After you move, you will need to have an insurance company file SR-22s in both states.
What happens if I don’t own a car?
Even if you don’t own a car, you are still required to carry an SR-22. In that case, you will need to purchase a non-owner’s policy to fulfill your SR-22 requirement.
READ MORE:
Adjusting Your Homeowners Insurance
Will Your Policy Protect You from an Uninsured Driver?
How to Handle a Hit-and-Run Car Accident
Health Insurance Discounts for Healthy Lifestyle Habits
No comments yet
We welcome your interest and participation on this forum, but be aware that comments will be published at Equifax's sole discretion. Please don't use this blog to submit questions or concerns about your Equifax credit report or raise customer service issues. Instead, you should contact Equifax directly for all such matters and any attempts to do so in this forum will be promptly re-directed.
Some other factors to consider when commenting:
- Registration and privacy. While no registration is required to visit our forum, participants wishing to post a message must register by creating an account. All personal information provided by forum members incident to registration is governed by our Terms of Use and Privacy Policy.
- All comments are anonymous. We'll delete your name, e-mail address, and any other identifying information, including details about your investments.
- We can't post or respond to every comment - As much as we'd like to, we can't post every comment, nor can we guarantee that we will respond to each individual message. All questions or comments about your Equifax credit report or similar customer service issues should be handled by contacting Equifax directly.
- Don't offer specific legal, tax or financial advice. All of the materials on this Site are for information, education, and noncommercial purposes only and this forum is not intended as a means of expressing views or ideas regarding any specific legal, tax, or investment advice. While offering general rules of thumb is both permitted and encouraged, recommending specific ideas or strategies regarding investments, taxes, and related matters is prohibited.
- Credit Repair. This blog is not intended as a venue for the discussion or exchange of ideas regarding credit repair or other strategies intended to assist visitors and community members improve or otherwise modify their credit histories, ratings or scores.
- Stay on topic. Your comment should be concise and pertain to the specific post in question.
- Be respectful of the community. The use of profanity, offensive language, spam, and personal attacks will not be tolerated and egregious or repeat offenders will be banned from future participation. We encourage disagreement and healthy debate, but please refrain from personal attacks on our WordPresss and contributors.
- Finally: Participation in this forum may be terminated by Equifax immediately and without notice for failure to comply with any guidelines or Terms of Use. As such, you should familiarize yourself with all pertinent requirements prior to submitting any response through the blog or otherwise. All opinions expressed in this forum are solely those of the individual submitting the comment, and don't necessarily represent the views of Equifax or its management.
Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.
RSS Feeds