How much does SR-22 insurance cost per month?

Question

To get an SR-22 removed, a driver needs to contact their insurance company once they are no longer required to have the SR-22 on file with their state DMV. While each state has its own rules for how long drivers must maintain an SR-22, it can usually be removed after 3-5 years. Since individual drivers do not handle SR-22 forms themselves, the insurance company will take care of the cancellation.… read full answer

You can contact your state’s DMV to find out exactly when your SR-22 filing period ends. Once you confirm that you no longer need an SR-22, you can call your insurance company and let them know. Your insurer will then notify the DMV that they have cancelled the SR-22 filing.

You should never try to remove your SR-22 before the state-mandated period ends. If the DMV finds out that you cancelled your SR-22 insurance early, you could face serious consequences that include a driver’s license suspension, vehicle registration suspension, and hefty fees. In addition, you will likely have to start the SR-22 filing period all over again.

Finally, if you cancel your SR-22 insurance because you are switching insurance companies, you should cancel the old policy a few days after the new one begins. It can take some time for your state DMV to receive the new filing, and having the policies overlap by a few days helps you avoid a lapse in SR-22 coverage.

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Answer 1 · 2021-09-14 16:16:17

WalletHub, Financial Company

@WalletHub • 09/14/21 This answer was first published on 12/03/20 and it was last updated on 09/14/21.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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SR-22 insurance costs an average of $62 to $122 per month, or $742 to $1,465 per year, depending on the insurer and the offense that led to the SR-22 requirement. Insurance companies will also charge a fee of around $15 to $25 to file an SR-22 with the DMV.

“SR-22” refers to a form that your insurer will file with the state to prove you have enough coverage to drive legally. Because an SR-22 flags you as a high-risk driver, your insurer will charge you more than the average policyholder.

SR-22 Insurance Cost by Company

Company	Average Monthly Premium with an SR-22	Average Annual Premium with an SR-22
Geico	$46	$556
Progressive	$56	$669
USAA	$59	$713
Travelers	$62	$740
Liberty Mutual	$78	$936
Allstate	$80	$954
The Hartford	$80	$963
State Farm	$83	$999
Nationwide	$85	$1,020
Farmers	$91	$1,092

Factors That Affect SR-22 Insurance Costs

Premiums vary based on infraction, company, state, and individual driver. How much coverage you buy also makes a difference in cost. For instance, if you only buy the minimum amount of insurance required by your state, you can fulfill your SR-22 requirement for a lower price than if you purchased a full coverage policy. And since you only need to have an SR-22 for 1-5 years, depending on the state, your premium will eventually go back down.

To learn more, check out WalletHub’s complete guide to SR-22 insurance.

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SR-22 Insurance Cost by Company

Factors That Affect SR-22 Insurance Costs

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