Have you been told that you need SR22 insurance? You have probably come across terms like SR22 Form, SR22a Form and SR26 Form already. It is understandable if you feel a bit confused and wondering what is it all about.
What is a SR22 Form?
Basically, local authorities like the Department of Motor Vehicles (DMV) use the SR22 insurance mechanism to ensure that certain drivers, do indeed have auto insurance. This is being achieved by a form, SR22 form to be precise, which is submitted by your insurance company to the DMV. Of course, you can do it yourself manually too, but it is much more convenient if your insurer does it for you.
By submitting the SR22 form, also referred to as SR22 filing, the authorities have a proof that you are financially responsible. Please not that you must purchase liability for at least the required minimum.
Most insurance providers submit SR22 forms electronically these days and it does speed the process a lot. There is hardly a need for a paper form to be filled and send via the post. Its just a waste of valuable time.
What is a SR22A Form, then?
Well, in many ways a SR22A form is just like a SR22 form or at least as far as its purpose is concerned. You are likely to be required a SR22A form if you have repeatedly violated the financial responsibility laws. There are only 3 states in America where the SR22A form is used – Missouri, Texas and Georgia. Probably the main difference is that SR22A will required the auto insurance premium to be paid 6 months in advice.
What about the SR26 Form?
There is a period of time during which SR22 filing is required, usually 3 years. If for some reason you fail to pay your premiums or cancel your insurance, the law requires your insurance company to notify the authorities. Just like the SR22 proves financial responsibility, the SR26 Form cancels it. If you let your insurance lapse and SR26 Form is submitted, your license will be most likely suspended and you will be no longer able to drive. The SR22 insurance period will probably be reset too.
It goes without saying that you should always double check the details regarding your SR22 insurance with the local authorities. After all, auto insurance laws are state specific and what may be true in Florida could be quite different in Alaska. Other forms like FR4, FR44 and others are being used in different states.
The main thing to remember is that having to carry SR22 insurance will inevitably increase your premiums. Yes, it is a harsh reality. Still, don’t lose hope and do your best to find cheapest SR22 insurance out there. Shop around, compare quotes and only make a decisions when you have gathered enough information.