An SR-22 is the name of an insurance form that monitors the auto insurance of drivers. Insurance companies must file this form as proof that their customers are financially responsible for their driving and have valid auto insurance. This form is usually used for drivers who have a period of not being insured, either through their choosing or if they have a license suspension.
There are different types of SR-22 forms, including:
1. The Operator’s Certificate, which covers the financial responsibility when the driver does not own a car
2. The Owner’s Certificate, which covers the financial responsibility for cars owned by the driver
3. The Operators-Owners Certificate, which covers the financial responsibility for all vehicles owned or not owned by the driver.
The SR-22 form must be filed in different circumstances, including:
1. If the driver has a history of uninsured driving or other irresponsible behavior
2. If the driver does not meet any requirements of a judge’s ruling on prior traffic violations
3. If the driver has a suspended or revoked license
4. If the driver is required to have mandatory insurance supervision
5. If the driver has received multiple violations for insurance coverage or non-coverage
To file the SR-22, the driver must contact their insurance agency and pay the necessary processing fee. The driver must have the minimum insurance amounts of $25,000 for bodily injury for one person, $50,000 for bodily injury for two people, and $10,000 for property damage. The form will be sent to the Department of Licensing who will then send an acceptance letter to the driver. The SR-22 must be intact for 36 months. If the driver must renew the SR-22 after this time period, it should be done well in advance, at least 45 days. It is the responsibility of the driver to renew the SR-22.
The purpose of the SR-22 is to prove financial responsibility of the driver in case of an accident. In some cases, drivers may be allowed to deposit a large amount of money ($60,000) into an untouchable account with the state treasurer to use in the event of an accident.
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