Taking the Mystery Out of SR22’s

An SR22 is not an insurance policy; it’s

simply a financial responsibility form proving that you have insurance

coverage

The SR22 is filed with your state by your insurance company and certifies that you carry the minimum liability coverage on your car insurance policy. If you do not own a motor vehicle, you must purchase “non-owners” liability coverage. If you’re not currently insured, this could cause

your driving privileges to be revoked

An SR22 requirement can be issued by the state or a judge and is usually required for three consecutive years. There are a variety of reasons that an SR22 may be required, including:

• DUI or DWI offenses• Being found at-fault in an

accident while driving uninsured• Driving with a suspended or

revoked license• Several traffic infractions in a

short period of time• Other major moving violations

such as reckless driving

If you cancel an insurance policy, your carrier will immediately notify the state that you are no longer covered and your SR22 form will be withdrawn

If you plan to cancel your policy because you are changing insurance companies, make sure you have the new policy with an SR22 in place before you cancel. Be aware, even a one day lapse in coverage can cause your three year time period to start all over again

After probation ends – SR-26 filingIf an SR22 expires or is canceled, the carrier is required to issue an SR26 form, which confirms the cancellation of the policy. If this form is filed before your policy term and probationary period are over — implying you may be driving without meeting your financial obligation— the state may revoke your driving privileges

The differences between an FR-44 and an SR-22

Used only in Virginia and Florida, the FR44 is similar to the SR22, and provides proof of financial responsibility. Unlike the SR22, which only requires that drivers meet the minimum amount of required car insurance, the FR44 requires that liability coverage limits are substantially greater than state minimums

Convictions of violations involving driving with a suspended license or DUI (with or without injury) may result in requiring an FR44

FR44 coverage- higher limits, higher costs

Florida drivers who MUST file an FR44

• Are required to carry a minimum of $50,000 for property damage coverage

• and $100,000/$300,000 for bodily injury coverage

Florida drivers who DON’T need an FR44

•  are required to carry only $10,000 of bodily injury and property damage coverage

You can be sure the higher limits will result in higher premiums. Once the probationary term has been successfully completed, an FR46 form will be filed by the insurer. The FR46 accomplishes the same purpose as the SR26.

If you have any questions or if you need an SR22, talk to your insurance agent today!