SR-22 insurance is a type of certificate of financial responsibility that is required by some states for drivers who have been deemed high-risk. This includes drivers who have been convicted of DUIs, driving with a suspended license, or other major traffic violations.
The cost of SR-22 insurance varies depending on your state and your driving record. In general, you can expect to pay an additional $100 to $300 per year for SR-22 insurance.
Here are some of the factors that can affect the cost of SR-22 insurance:
- Your state. The cost of SR-22 insurance varies from state to state. In some states, it is more expensive than in others.
- Your driving record. If you have a poor driving record, you will likely pay more for SR-22 insurance than someone with a clean driving record.
- Your insurance company. Different insurance companies have different rates for SR-22 insurance. It is important to shop around and compare rates before you buy a policy.
- The type of coverage you need. The cost of SR-22 insurance also depends on the type of coverage you need. If you need high-liability limits, you will likely pay more than someone who needs lower limits.
In addition to the cost of the insurance, you will also need to pay a filing fee to the state. This fee typically ranges from $15 to $25.
If you are required to file an SR-22, it is important to understand the cost of the insurance and the filing fee. You can contact your insurance agent or the state’s Department of Motor Vehicles for more information.
Here are some tips for reducing the cost of SR-22 insurance:
- Shop around for quotes from different insurance companies.
- Consider getting a high-deductible policy. This will lower your monthly premiums but will require you to pay more out-of-pocket if you are involved in an accident.
- Increase your liability limits. This will also lower your monthly premiums.
- Maintain a clean driving record. This will help you qualify for lower rates.
By following these tips, you can help reduce the cost of SR-22 insurance.