Many drivers get into this situation. Something happens to where your drivers license get suspended, and you need an SR22 state filing to get your license back. But you soon discover that your current auto insurance company does not handle SR22's. What to do now?
Once you're at this point you have basically two options:
Option A: Change your auto insurance company to a company that does offer SR22's.
This will combine regular auto insurance coverage and your SR22 requirement together onto one policy.
You will only pay for one policy versus paying for two separate polices
Option B: Purchase two 2nd separate auto insurance policies, one policy covering your vehicle(s) and another policy that takes care of your SR22 filing.
This allows you to keep your current auto insurance policy, and the 2nd policy will be a special type of auto insurance policy to take care of your SR22 requirement. These 2nd policies will satisfy your SR22 requirement and cost much less than your primary auto insurance policy that you have now.
Which Option is Better?
For the vast majority of people, Option A is the better option.
However, the small percentage of people who would be better off going with Option B tend to share the same characteristics.
If 3 or more of these apply to you, Option B would probably be better:
Key things to keep in mind:
If you go with Option A: Be aware of any changes in coverages switching from your old auto insurance policy and your new auto insurance policy. Try keeping all coverages the same. But with going from one company to the next, that isn't always possible.
If you go with Option B: You will want to take out a Financial Responsibility Bond to satisfy your SR22 requirement. A Named Operator's policy or a Broad Form Named Driver policy will also work.
If you are unsure of whether to choose Options A or B: There's no reason why you can't look into both options. Get a quote on both a regular auto insurance policy and a financial responsibility bond, and then compare prices for yourself.
Final Step: The Quote Process
Those who select Option A need a quote for a regular auto insurance policy, with an SR22 filing attached to it.
Those who select Option B need to quote for a Financial Responsibility Bond, with an SR22 filing attached to it.
Not all auto insurance companies will file SR22's. So the most efficient way to find the policy that you need for the lowest premium is to find an independent agent who specializes in high risk auto insurance. These agents know which companies are SR22 friendly and which ones are not.
Quoting with an independent agent also helps you find the lowest possible rate. One quote gets you prices with multiple companies at once. This is much more efficient than only quoting with one company at a time.
If you would like help getting quotes, I would be more than happy to help you. Click on one of the two links below, and I will find the company that offers you the best rate for the coverage that you need. And as always, I handle all quotes personally and privately.
Click here to get a Regular Auto Insurance Quote with an SR22 (Option A)
Click here to get a Financial Responsibility Bond Quote with an SR22 (Option B)
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Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..