Common Misconceptions About SR-22 Insurance

When it comes to auto insurance, there are various types and terms that can be confusing for drivers. One of the most misunderstood forms of auto insurance is SR-22 insurance. Often associated with high-risk drivers, SR-22 insurance can be a source of confusion and misconceptions. In this article, we will debunk some of the common misconceptions about SR-22 insurance and provide clarity on what it entails.

1. SR-22 Insurance Is a Type of Auto Insurance:

Misconception: Many people believe that SR-22 insurance is a separate type of auto insurance policy. However, SR-22 is not an insurance policy itself. It is a certificate or document that is filed by your insurance company with your state's Department of Motor Vehicles (DMV) to verify that you have the required minimum liability insurance coverage.

2. SR-22 Insurance Is Only for High-Risk Drivers:

Misconception: While SR-22 insurance is often associated with high-risk drivers, it may also be required for various reasons unrelated to a driver's risk profile. Some common reasons for needing an SR-22 include DUI or DWI convictions, driving without insurance, multiple traffic violations, or as a requirement for reinstating a suspended or revoked driver's license.

3. SR-22 Insurance Is Expensive:

Misconception: SR-22 insurance itself does not necessarily come with higher premiums. However, individuals who require an SR-22 typically fall into high-risk categories, which can result in higher insurance rates. The cost of SR-22 insurance varies depending on factors like your driving history, the reason for needing the SR-22, and your location.

4. SR-22 Insurance Lasts Indefinitely:

Misconception: SR-22 insurance is not a permanent requirement. The duration for which you need to maintain an SR-22 varies by state and circumstance. Typically, SR-22 requirements last for a specified period, such as three years, during which you must maintain continuous coverage and a clean driving record.

5. You Can Cancel SR-22 Insurance When You Want:

Misconception: Cancelling your SR-22 insurance prematurely can lead to serious consequences. If you no longer need an SR-22 but cancel your insurance coverage, your insurance provider is legally obligated to notify the DMV of the cancellation. This can result in the suspension of your driver's license.

6. All Insurance Companies Offer SR-22 Filing:

Misconception: Not all insurance companies offer SR-22 filing services. If you require an SR-22, you will need to find an insurance provider that specializes in high-risk coverage and is willing to file the SR-22 on your behalf.

Conclusion: Clarifying SR-22 Insurance
Understanding the facts about SR-22 insurance is crucial for anyone who may be required to obtain it. While SR-22 insurance is associated with high-risk drivers, it is essential to recognize that it is not a standalone insurance policy but a certificate of compliance. Additionally, the duration of SR-22 requirements and associated costs can vary widely. It is advisable to work with an experienced insurance agent who can guide you through the process and help you find the right coverage at a competitive rate.

If you require an SR-22, it's essential to maintain continuous coverage and adhere to the requirements set by your state to avoid any legal consequences or license suspension.

At Elite Insurance Services, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays, and we're here to help you. Learn more about our products and services by calling our agency at (719) 302-1110. You can also request a free quote by CLICKING HERE. 

Disclaimer: The information presented in this blog is intended for informational purposes only and should not be considered as professional advice. It is crucial to consult with a qualified insurance agent or professional for personalized advice tailored to your specific circumstances. They can provide expert guidance and help you make informed decisions regarding your insurance needs.​