|Posted on June 7, 2012 at 5:30 PM|
If you require a state SR22 Bond filing in the state of Indiana, there are several keys you may not be aware of that will help you save money.
There are two ways to set up an SR22 filing. One is to attach the SR22 to a regular auto insurance policy. The other way is to attach the SR22 to a named operator policy. The difference depends on whether or not you own a car, or have a car registered in your name. If you do own or register a car, you will want to have the SR22 attached to an auto insurance policy. If not, you will want the named operator policy.
HOW DO I SAVE MONEY ON MY SR22? There are several things you can do to save money:
1. Quote with an independent agent or agency. That gives you best chance at the the lowest rate with minimal effort. That's because you only have to make one contact instead of getting a quote one company at a time. Any good independent agent will be happy to do the grunt work for you, and find out which company has the cheapest rate for your needs.
2. Paying 6 months premium in full up front will automatically save you 10-20% with most companies as opposed to making monthly payments. It's a big chunk up front but it's also the cheapest way in the long run.
3. Inquire about other possible discounts. There are quite a few of these that you may not be aware of. Be sure to ask your agent about any discounts you can qualify for.
4. Paying on time is very important! This may be a no-brainer but it is especially important for those with an SR22 filing. First of all, if you lapse or cancel on a state filing, your license gets suspended again. Second, the companies that go easy on state filings tend not to go so easy on late fees.
If you're looking to find a company with an affordable rate, my agency has several companies that are very competitive with SR22 filings regardless of whether they are attached to either type of policy. And as always, I never share nor sell your personal information to anyone. I handle all incoming quotes personally and privately.