You may be required to carry an SR-22 if you have had a DUI or other traffic violations. And carrying an SR-22 can make your car insurance premiums skyrocket. This isn't due to the SR-22 itself, but rather due to the DUI.
With an SR-22, you must carry auto insurance. But there are ways to save on your auto insurance — even with an SR-22 requirement.
1. Ask About Discounts
There are still discounts available for those with an SR-22. This includes Good Student discounts, Mature Driver discounts and low mileage discounts.
2. Keep A Good Credit Score
Credit scores can affect your car insurance rates heavily. Raise your credit score by paying off credit cards and paying bills on time. This is easier if you set up automatic payments. You may also save money through automatic payments with your insurance, as there won't be a service or filing fee.
3. Insure A Low-Risk Car Or Motorcycle
The type of vehicle also affects your insurance rates. Newer and more expensive cars cost more to insure. Vehicles with higher safety ratings may cause less to insure, however, as you are less likely to file a personal injury claim after a wreck. Motorcycles are generally cheaper to insure, as well — though it depends on the bike and any modifications made to the bike. Avoid sports cars and vehicles modified for greater speed in order to save money on your insurance premiums.
4. Pay A Higher Deductible
If you want to save money on your monthly payments, you can choose to have a higher deductible. This means your premiums will be lower, but you will have to pay more out of pocket for damages if an accident does occur. You can also choose to make one lump sum payment if you have the means to pay for the annual insurance premium. This total is less overall but may be more difficult given that it must be paid all at once.
5. Purchase Less Insurance
You may not always need full coverage insurance, especially if you're insuring an older vehicle. Your SR-22 is proof that you carry the minimum amount of insurance required by the state, which varies per state. Generally, this includes liability insurance in case you cause an accident.
In Missouri, you must carry:
- $25,000 in bodily injury liability per person
- $50,000 in bodily injury liability per accident
- $10,000 in property damage liability
In Kansas, you must carry:
- $25,000 in bodily injury liability per person
- $50,000 in bodily injury liability per accident
- $25,000 in property damage liability
- Personal Injury Protection (PIP)
There may be additional requirements, so be sure to check with your state and the court that issued your SR-22. You may also be expected to carry uninsured/underinsured motorist coverage. Car insurance coverage such as comprehensive and collision coverage is not required and may not be necessary for older vehicles. Speak with an Auto Insurance Discounters agent about your vehicle's specific needs and ways to save money on auto insurance.
Perhaps most important, shop around and get quotes from different insurance agencies. Some insurance agencies are specialized in providing car insurance for non-standard or high-risk driver. If you have a SR-22, you are considered a non-standard and high-risk driver. Agencies that only provide insurance to standard drivers are not likely to insure you, and if they do, they will charge much more for insurance to cover their potential losses. Once you have an SR-22, it's important to make sure there is no lapse in your coverage. Otherwise, you could face repercussions from the court that ordered it and possibly be dropped by your insurance company.
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