SR22 Form - What you Need to Know

An SR22 form is an insurance related term that many people may not be familiar with. At its simplest, the SR22 is used by each state Department of Motor Vehicles office to provide proof that a driver has the minimum required liability coverage. This is generally only required for drivers who have had a DUI conviction in the past or drivers who have for some reason lost their driving privileges, for example from speeding or causing a serious accident. The cost of SR-22 insurance varies from state to state and depends on driver previous offence and other factors.

One of the most typical requirements for an SR22 form is that a driver must submit it for up to 5 years if they have gotten a DUI. This policy is in place to ensure that problem drivers or drivers who present a large risk in their vehicles will be insured against damages and be able to pay for any accidents or other financial liability that may cause. Insurance companies are required to notify the state DMV if a driver with an SR22 form has removed or cancelled their policy on their vehicle as well. This form is required, and if cancellation occurs, the driver will typically have their license suspended, so if you need an SR22 form, make sure that you understand the legality of your insurance requirements before you make a decision on changing your insurance plan.

Another use for the SR22 form is to verify the existence of what is known as an SR22 bond. These are another way for drivers to insure their vehicles, this time in the form of a deposit backed surety with a bank, insurance company, or other financial institution. After securing an SR22 bond or an adequate insurance policy, your job does not stop there. It is your responsibility to instruct your insurance provider to send the SR22 form to the DMV or Department of State. The hassle doesn’t end there, and as many agree, this process can be quite frustrating. TO make matters worse, once the SR22 form is sent, it can take up to 30 days to process before the state sends proof to the recipient. Typically, a driver will receive a letter and a copy of the SR22 form that the driver can then use as proof if they are stopped.

Although many people find the process of getting an SR22 form a bit of a hassle, especially because it affects your ability to drive, it is a good benefit for both the driver and other people on the road, and takes steps to ensure that you are properly protected. Although it may feel like you are being babied, these types of policies ensure that you have the necessary protection for yourself, first and foremost. Deciding on whether or not to pay a SR22 bond is a decision you’ll have to think about, as monthly payments have to be made, but most of the time the process is as simple as purchasing the minimum require amount of insurance by your state, a simple process which can be completed in a matter of minutes.