What is SR-22? Financial Responsibility Get Car Insurance From The Experts At Illinois Insurance Center

Everyone these days is trying to cut back and save money. An increasing amount of people are struggling to meet very ordinary living expenses. Often, insurance is one of the first items that don’t get paid. But driving without insurance is not only against the law; it can also cost much more in the long run than if you’d just paid your premium in the first place. 

SR22 Filings 

SR22 is not a type of insurance. It is the name of a particular form that insurance companies offer and is often required if your license has been suspended or revoked. 

An SR-22 insurance policy is a certificate of insurance that shows the Secretary of State proof of insurance for the future, as required by law. SR-22 is a motor vehicle liability insurance which requires the insurance company to certify coverage to the Division of Motor Vehicles, and the insurance company must notify DMV any time the policy is canceled, terminated or lapses. You do not need to own a car to buy this kind of insurance. If you do not own a car, ask your insurance company about a non-owner SR-22 policy. 

The Primary reason an SR22 Filing is ordered is due to the driver's already having been convicted of a Failure to maintain Auto Insurance as required by law. It can also be required after certain other traffic related offenses such as DUI's, DWI's and other serious traffic violations involving negligence or severe endangerment of other drivers or pedestrians. 

If your SR22 endorsed Auto Insurance Policy cancels, lapses or expires for any reason, The Insurer is required by law to send an SR22 Filing to the state DMV notifying them that you are once again no longer in compliance with the states’ Financial Responsibility laws. After an SR22 filing the state can then suspend your driver’s license. The SR-22 certificate is issued in one of the following forms: 

1. Operator's Certificate - This policy covers the motorist in the event they do not own a vehicle. If the motorist does not own a vehicle, the financial responsibility requirement can be met through the Operator’s Certificate.

2. Owner's Certificate - This policy covers vehicles owned by the driver. The type of vehicle must be listed on the SR-22. 

An SR-22 doesn’t have to increase your insurance cost: just make sure you don’t get one in the first place! If your insurance lapses, reinstate it. It’s as much for your safety as it is your responsibility. If you get into an accident those expenses don’t go away! You are responsible to cover the damages and if you can’t pay, liens could be placed on your property or even your wages. The other car’s insurance company can come after you as well; don’t assume they’ll just cover all the damages, no questions asked. It’s very easy for car accident injuries to quickly accumulate into the tens of thousands. 

If you need an SR22 for your policy and need to speak with an expert who can find you the best coverage for the best price, Contact Us today.