Wondering how much will SR22 insurance cost you? Worried that your car insurance premiums may go up and not sure what steps you need take in order to obtain SR22 Insurance? It seems that most people have their own interpretation of what SR22 actually is and there is definitely some confusion. Lets get straight to the point.
Firstly, you need to realise that what most people refer to as SR22 insurance is just a form (SR22 Form) which needs to be submitted to the local authorities. You don’t even have to do it yourself, your insurer will do it for you. How much does the SR22 filing cost? Typically, anything between $15 and $25. That’s it, its really that simple. You can always check for yourself – compare free auto insurance quotes online now and see what the difference is if you required SR22 filing, and if you don’t.
If your driving license has been suspended, you will also have to pay between $100 and $250 in order to get it reinstated. The amount will depend on the local laws and the appropriate information should be given to you by the authorities.
Why SR22 may increase the cost of your auto insurance?
The truth is that you insurance premiums are likely to increase. It has nothing to do with the SR22 fees or filing. It all comes down to the reason why you were required to have a proof of financial responsibility in the first place. More often than not, its due to one of the following – driving under the influence, driving without insurance, causing an accident or repeatedly commuting traffic violations.
Of course, such acts go on your driving record, which insurance companies have access to. When insurance rates are calculated, insurance companies put motorists in different groups depending on a number of factors like age, experience, driving record and credit history. It goes without saying that drivers with a clean record, excellent credit history and no traffic violations are in the “prime” ground and receive better rates than most people. In most cases, having to file SR22 Form means you will be in the “high-risk” group. The good news is that this is only temporary and not for life. You must check with the local authorities how long you need to carry SR22 insurance for and if the minimum liability limits have been increased.
How to lower the S22 Insurance cost?
As already mention, you driving record is not the only factor taken into consideration when auto insurance rates are calculated. The type of vehicle you drive and the place of your residency will are of paramount importance as well. You may be supervised to hear that in some states motorist in the “prime” group pay more for auto insurance than drivers in the “high risk” group in other states. It really comes down to personal circumstances.
What you can do is make sure you drive “an insurance friendly” vehicle. It simply means that you car must have safety features and anti-theft devices. Think about doing a defence driving course. Insurers usually reward such responsible drivers with lower rates. Reducing your annual mileage is also an option. It is always a good idea to have just the right amount of coverage. Not being under insured, but also not paying for unnecessary coverage either.
All being said, the only way to really find out how much filing a SR22 will affect your auto insurance premiums is to compare quotes. As ever self respecting insurance professional will tell you, you need to compare quotes from at least 3 different insurance companies. You can save a lot of time and money by doing it online.