Reducing SR-22 Insurance Costs

If you've been required to get an SR-22 certificate, it is likely to have an effect on your auto insurance coverage and prices.

SR-22 requirements are certificates that your insurance company sends to your state DMV following a variety of traffic offenses. These offenses might include multiple tickets, accidents, DUIs and DWIs, and driving without insurance.

SR-22 policies are not insurance policies. They simply verify for your state authorities that you carry insurance. You'll likely have to carry these certificates for a couple of years.

How SR-22s Affect Your Auto Insurance

When you get an SR-22 certificate, you will likely see changes in your auto insurance coverage.

In some cases, you might have to adjust your coverage, or even change policies altogether to meet the SR-22 requirements.

Furthermore, an SR-22 makes you a higher risk in the eyes of your insurance company. For that reason, it will likely cost your insurance company more money to insure you. In these cases, there is a reasonable chance that you will see your insurance prices increase. So, you might have to pay more after you get the SR-22 requirement.

No one wants to see their insurance costs increase, but price increases are at times a foregone conclusion of an SR-22 requirement. Still, you might be able to work with your insurance provider to mitigate increases and keep your auto insurance coverage somewhat affordable.

Talk to Your Agent

If you're required to get an SR-22 certificate, you'll likely need to contact your insurance agent immediately to file the certificate on your policy. Your agent can usually issue an SR-22 certificate within 24 to 48 hours. However, longer filing periods sometimes apply. Your agency might charge a small filing fee when they issue the certificate.

Your agent can likely give you a lot of information on how your insurance policy rates might change under the SR-22 requirement.

When you talk to your agent, be sure to ask about how to better save on your insurance rates.

Adjust Coverage Levels

Most states require drivers to carry minimum levels of insurance. This is no exception for SR-22 carriers. However, your auto insurance agent may be able to adjust your coverage levels to still get you adequate protection without breaking the bank.

For example, you might be able to increase your insurance deductible. The deductible is the amount of money you have to pay for repairs before your insurance kicks in. With a higher deductible, you are a relatively low financial risk to your insurance company. Therefore, you might be able to reduce your monthly costs with a higher deductible.

Compare Insurance Companies

Some insurance companies don't offer coverage for SR-22 certificates. There is a chance you may have to change your insurance coverage altogether when you get an SR-22 requirement. Your agent may be able to compare SR-22 offerings across different insurance carriers. That way, they might be able to get you adequate coverage with the best price.

Ask About Discounts

Many insurance companies offer discounts for their drivers. Even if you have an SR-22, you might still qualify for certain discounts on your SR-22 policy. Discounts could include automatic payment discounts, student discounts, and other discounts that are not related to your driving history.

Ask your insurance agent about how an SR-22 impacts your qualifications for insurance discounts. If you can still access these discounts, consider doing so. You might be able to save on your auto insurance premium.

Pay Your Bills On Time

While you have an SR-22 certificate, you'll need to carry auto insurance. If your auto insurance coverage lapses for any reason, your insurance company will likely need to notify the authorities of the lapse in coverage. This may cause your SR-22 period to start over, and it could result in new penalties from the law.

One of the easiest ways to lose insurance coverage is to not pay your insurance bills on time. Many insurance companies stop coverage after just one missed payment. Therefore, to keep your SR-22 requirement active, be sure to always pay your bills.

Your insurance agency likely offers a variety of ways to keep your insurance payments current. You might be able to set up automatic payments or use online payments to keep your coverage active.

Drive Safely

It is imperative that SR-22 policyholders remember that the certificate is a penalty for reckless driving. If you continue to get driving charges, you'll continue to represent yourself a risk to traffic enforcement authorities and your insurance company.

Do your best not to get further driving charges while you have the SR-22 requirement. Further driving charges may lead to further penalties, including the loss of your driving privileges. They may also cause your SR-22 requirement to reset, which will extend your time with the certificate. Use the SR-22 as a learning experience, and a chance to improve your driving record.

We are here to help. Call Auto Insurance Discounters at (866) 288-6545 for an instant SR-22 insurance quote.

Additional Resources

Learn more about the SR-22 certificate process