Did you know that drinking and driving costs Americans more than forty billion dollars every year? With that much money being spent due to drunk driving, it makes sense why insurance companies are looking to lower their risks.
This is where SR 22 insurance comes into play. But what is SR 22 insurance and how much does SR 22 insurance cost?
Keep on reading and we’ll take you through everything that you’ll want to know!
What Is SR 22 Insurance?
SR 22 insurance is a certificate of responsibility. It shows that you meet your state’s minimum insurance requirements when it comes to car insurance coverage.
This form is usually required if your license has been suspended. The form will be issued by your insurance company to your state’s transportation department.
You might need SR 22 insurance if you’ve been convicted of a DUI, had your license revoked, or were convicted of driving without a license.
How Much Does SR 22 Insurance Cost
On average, SR 22 insurance will cost you between $60 and $120. The cost can vary depending on the insurance provider and the offense that led to you needing SR 22 insurance.
Your state’s DMV will also charge you a fee to file the SR 22 paperwork.
To file an SR 22 form with the DMV will cost you between $25 and $50. Each state sets its own fee amount. Your SR 22 will also flag you as a high-risk driver.
Why Is SR 22 Insurance so Expensive?
SR 22 insurance is going to cost you more than standard car insurance. This is because you’ll be viewed as a high-risk driver. If a driver is considered to be a risk, then they’ll have to pay higher premiums.
This is due to the fact that they are more likely to get in an accident and file a claim. The riskier you are, the more money you’ll have to pay for insurance.
Depending on the specific offense and the state you live in, your SR 22 insurance could be a little more expensive than standard insurance or triple the amount.
It’s important to note that you’ll only need to have SR 22 insurance for a limited amount of time. Usually, it’s between one and five years, depending on the state.
After your time is up, your rate will begin to go back down.
Because the price of SR 22 insurance can vary so much, it’s important that you do your research to find affordable insurance. You should read more to learn about how you can get cheap SR 22 insurance.
The Importance of Knowing About SR 22 Insurance
As we can see, your SR 22 insurance cost will vary based on a number of factors. By doing your own research and getting quotes from various insurance providers, you should be able to find an SR 22 arrangement that’s affordable and effective.
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