If you require an SR22 filing in the state of Ohio but you do not own a car, there are two options that will satisfy the requirement. The first option is a Financial Responsibility Bond. The second option is a Named Operator auto insurance policy.
What's the difference between a financial responsibility bond and a named operator policy?
Some other key points to know about the similarities
If you're just looking for the cheapest way to keep an SR22 filing in force, a financial responsibility bond is the cheaper option. However, you're normally limited to state minimum liability coverage and that's it! Some drivers are ok with that, knowing that the vehicle owner has better primary auto insurance coverage. However, if you want to add uninsured motorist and/or medical payments coverage, you will need to go with the named operator policy.
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Get a quote for a Named Operator policy with Lyles Insurance
What Does Progressive Snapshot Record?
Progressive's Snapshot Program records the following:
There are other things that Snapshot records:
What Progressive Snapshot Does NOT Record?
There are a lot of myths out there that won't go away. Here's the truth:
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The term "full coverage" has become such a popular buzzword when it comes to auto insurance that it leads to false impressions. In auto insurance lingo, having "full coverage" simply means having both comprehensive and collision coverage on your vehicle.
In reality: THERE IS NO SUCH THING AS "FULL COVERAGE".
Understand that there are several key parts to an auto insurance policy, and the term "full coverage" only applies to two of those parts. Just because you have what many call "full coverage" doesn't necessarily mean your coverage overall is adequate.
If you would like a review of your auto insurance policy, feel free to give me a call or drop me an email. I'll be happy to explain any questions you have.
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Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..