How does Ohio SR22 Bond Auto insurance work?
There is a lot of confusion about SR22's and how they work. Much of the confusion is because of common terminology that we all use, but is misleading. For example:
An SR22 is NOT a bond.
An SR22 is NOT auto insurance either.
An SR22 is a state filing that you can attach to some type of auto insurance policy, if the BMV requires you to carry it. An SR22 can attach to a regular auto insurance policy, a Financial Responsibility Bond (Ohio is the only state that has such a bond), or a Named Operator policy (for people who need auto insurance but don't own a vehicle).
An SR22 state filing is something that the BMV requires drivers to obtain after a license suspension. Once a suspended driver has met all the requirements to get his/her license back, getting an SR22 filing is usually the last step a driver needs to take before getting their license reinstated.
How does an SR22 filing work?
When you attach an SR22 onto some type of an auto insurance policy, the auto insurance company is required by law to notify the BMV that you have at least state minimum liability auto insurance coverage. This triggers a license reinstatement (assuming all other requirements have been met)....
However, if you ever were to lapse or cancel on your auto insurance policy in the future, the auto insurance is required by law to "tattle" on you to the BMV. Once the BMV gets notice that you have canceled on your policy, they will suspend your license again... Your license will remain suspended until you file another active SR22, whether it be reinstating your old policy or starting a new one.
So the best way to understand how an SR22 filing works is to think of it as a "tattle-tale" attachment. It tells on you when you cancel your policy, as state law requires the auto insurance companies to do.
How long do I have to carry an SR22 filing?
For the vast majority of drivers, the SR22 filing period lasts usually three years. But it can be more or less, especially if it is court ordered.
One last tip:
Not all auto insurance companies will do SR22 filings. And some will charge a fortune to do so.... You need to find an independent agent who specializes in high risk auto insurance to get an affordable rate. The companies they carry are more SR22 friendly and go easy on drivers with dings on their driving record.
Click here to get an Ohio SR22 Bond Quote
Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..