The cheapest SR-22 insurance is from Geico, USAA, and Grange Insurance, according to WalletHub’s analysis of 17 major insurers. In addition to relatively low premiums for drivers who need an SR-22, these companies offer discounts that can help policyholders save even more on their high-risk coverage.
Cheapest SR-22 Insurance Companies
- Geico: $556 per year
- USAA: $576 per year
- Grange Insurance: $615 per year
- Progressive: $669 per year
- Mercury: $700 per year
- Travelers: $741 per year
- Wawanesa: $745 per year
- Esurance: $769 per year
- AAA: $795 per year
On average, an SR-22 requirement will raise a driver’s premium by up to 18%. If your state requires you to have an SR-22, your insurance company will file the form with the DMV on your behalf and charge a $15-$25 filing fee. Depending on your state, you’ll need to maintain your filing for 1-5 years.
Cheapest SR-22 Insurance Companies
The cheapest SR-22 insurance company is Geico because of their competitive rates and generous discounts. In addition to consistently being one of the cheapest insurance companies across the board, Geico has great ratings from WalletHub editors and from customers.
Geico also offers a wide range of coverage options, besides SR-22 insurance. This includes non-owner insurance, which is a great alternative for SR-22 drivers who do not own a vehicle.
USAA is a great choice for SR-22 drivers who happen to be current or former military members, or relatives of one. USAA has cheaper rates than many of their competitors. Additionally, USAA receives good reviews from consumer watchdog groups and WalletHub’s editors. USAA also offers a long list of discounts and coverage options, including non-owner insurance.
However, their claims process and customer service department don’t always receive good reviews.
Grange Insurance has very good rates for SR-22 insurance and positive reviews from consumers. Grange also offers a wide range of coverage options and discounts. However, Grange only operates in 13 states.
Progressive has a great collection of available discounts, and their claims process is consistently praised for being quick and convenient. Perhaps most importantly, Progressive offers competitive rates for SR-22 drivers, too. They also have non-owner insurance as part of their wide range of coverage options.
Even though Mercury is only available in eight of the states that use SR-22 forms, they are still a great choice for high-risk drivers. Mercury offers competitive rates and has a great selection of discounts available.
While they have a great variety of coverage options, Mercury’s customer service isn’t the best. Mercury also doesn’t allow people to purchase policies online, which can be frustrating for tech-savvy consumers.
Travelers has great reviews from consumer watchdog groups and WalletHub’s editors. They also offer a significant variety of discounts and coverage options, including non-owner insurance. However, Travelers is more expensive than some of their competitors for SR-22 insurance.
Wawanesa is only available to drivers in California and Oregon. Despite that, Wawanesa offers an extensive range of coverage options and has great reviews from consumer watchdog groups. However, Wawanesa is more expensive for high-risk drivers with SR-22s than some of its bigger competitors.
Esurance’s all-online system can be a big bonus for tech-savvy drivers who need an SR-22. Esurance also has very competitive pricing and discounts.
However, they lack a diverse list of coverage options, and their lack of local agents can make managing policies a bit difficult. They also receive complaints for delayed claims and unexpected rate increases.
While AAA is one of the more expensive insurance companies for SR-22 drivers, AAA receives great ratings from consumer watchdog groups and they offer a wide variety of coverage options and discounts.
In addition to their well-known roadside assistance program, AAA offers retail benefits and trip planning services to their members. However, AAA tends to receive more customer complaints than their peers, and their customer service could use some improvement.
Cheapest SR-22 Insurance by State
Tips for Finding Cheap SR-22 Insurance
1. Shop Around
Considering how expensive SR-22 insurance is, it’s important to explore your options so that you can find the most affordable policy. It’s typically recommended that you compare quotes from at least three different insurance companies before purchasing a policy in order to find the best deal.
2. Look for Discounts
In addition to comparing quotes, you should also compare discounts between car insurance companies. If you have an SR-22, you likely won’t be able to qualify for discounts related to safe driving, but you can still find discounts that are based on your policy choices or your car.
For example, many insurers offer discounts for drivers who opt for paperless billing and pay for their entire policy in full up front. Additionally, you can often get a discount if your vehicle is equipped with certain safety features or anti-theft devices.
3. Consider Limiting Your Coverage
No matter what, you have to meet your state’s minimum coverage requirements in order to drive legally. But getting more coverage beyond that is up to you, and if you’re struggling to afford SR-22 insurance, then sticking with the minimum coverage may be the best choice. Keep in mind that if your car is leased or financed, you also need to meet your lender’s or lessor’s requirements.
4. Purchase a Non-Owner Policy
If you don’t own a vehicle, a non-owner car insurance policy is a great way to fulfill your state’s SR-22 requirement at a low price. Non-owner SR-22 insurance covers you when you drive rented or borrowed vehicles, and since it doesn’t cover a specific car, it’s usually less expensive than standard SR-22 insurance policies. However, this is only an option if you do not own a car and do not live with someone who does.
WalletHub editors compared 17 car insurance companies to determine the cheapest options for SR-22 insurance. Premiums reflect the average of a series of quotes sourced from Quadrant Information Services, using California ZIP codes and state-minimum insurance coverage.