How much does SR-22 insurance cost?

This question is about SR-22 Insurance Guide

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@WalletHub 12/02/20 This answer was first published on 12/03/20 and it was last updated on 12/02/20.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 $2,336 per year, on average, nationwide. Because an SR-22 flags you as a high-risk driver, your insurance company will charge you a higher premium than the average driver. But the cost of SR-22 insurance changes dramatically based on where you live.

Michigan drivers pay the most for SR-22 insurance, with rates averaging $7,472 annually. On the other hand, Maine has the cheapest SR-22 insurance, with drivers only paying an average of $1,051 per year. How much coverage you buy also makes a difference in cost. If you only buy the minimum amount of insurance required by your state, you can fulfill your SR-22 requirements while keeping your rates as low as possible under the circumstances.

It should be noted that the SR-22 form itself doesn’t cause your rates to go up. In fact, your insurance company will only charge you a one-time filing fee of around $25. Instead, your premium will go up based on the infraction that caused you to need an SR-22 in the first place. SR-22s are usually required after serious traffic offenses like DUI, reckless driving, or driving with a suspended license. So, even if your state didn’t require you to have an SR-22, your insurance company would still charge you a higher rate based on your risk as a driver.

Since you only need to have an SR-22 for 3-5 years, your premium will eventually go back down. In the meantime, switching to an insurer with lower rates is the best way to save money on SR-22 insurance. As long as your coverage doesn’t lapse, it won’t affect how long you need the SR-22.

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People also ask

Does SR-22 cover any car I drive?

Yes, SR-22 insurance covers any car that you drive, as long as you file for an owner-operator SR-22 certificate. An owner-operator certificate, which is available in most states, is a type of SR-22 form that covers you when you drive any vehicle, regardless of who owns it.

There are two other SR-22 options that cover you in fewer situations. An owner certificate only covers cars that you own, and a non-owner certificate covers you when you’re required to file an SR-22 but you don’t own a car.… read full answer

Non-owner SR-22 insurance is the cheapest option since you’re less likely to file a claim, but it’s important to note that you’ll have to change your policy if you purchase a car later on. Your insurance company will help you decide which certificate is best for you before they file the SR-22 with the state on your behalf.

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Do I need SR22 if I don't drive?

How can you get an SR-22 removed?

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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