SR22 insurance, as its commonly called, is not in fact a type of Florida No Fault Insurance. In simple words, SR22 is the name of the document which is used by vehicle insurance companies to prove a person is compliment with the minimum limits of liability required.
SR22 form is submitted by your auto insurance company to the Florida’s Bureau of Financial Responsibility, in case of course you are required to submit such confirmation of liability insurance. DUI, too many points on your license for traffic violations, driving uninsured are some of the reasons why you may be required to have SR22.
Florida’s No Fault Law indicates that the minimum requirements for a car insurance policy are $10,000 of Personal Injury Protection and $10,000 of Property Damage Liability. For SR22 Insurance, Bodily Injury Liability (BIL) is added on top of the minimum requirements. In Florida, SR22 will require minimum Bodily Injury Liability limits of $10,000 per person and $20,000 per accident. Combined single limit of liability, $30,000, will also be sufficient to fulfil this requirement.
The amount you will pay for BIL will be the same regardless of the fact that SR22 filing is requried. A $15 filing fee is the only additional cost for you.
Bare in mind that, if you are required to file a SR22 form your insurance will become more expensive. Its not because of the SR22 form, but rather because of the reasons stated above – DUI, too many points on your license for traffic violations, driving without insurance.
If you do not comply with the law, vehicle license plate and or your driver’s license will be suspended. In such case, in addition to the filling fee, reinstatement fees will apply.
