Hello! I'm Dan Lyles with Lyles Insurance. In this video, we're going to go over a small problem that's been happening to Indiana drivers, where the BMV employees are telling them that they need both an SR50 and an SR22 auto insurance filing to get their license reinstated. This is simply not true! And I'm going to go over why, and give you some ideas about how to handle the problem.
First, let me give you a little background info regarding SR50’s and SR22’s. Indiana is the only state that has the SR50 filing. But several years ago, the law changed, and they did away with SR50’s and replaced it with the traditional SR22 filing that most states use. However, if you were charged before the law changed, you're still grandfathered into the old SR50 filing.
What's the difference between an SR50 and an SR22 filing? Well, they're very similar and let's start with that. When you buy an auto insurance policy with either one of those attached to it, it lets your BMV know that you have taken out at least state minimum liability auto insurance coverage. The difference (and the only difference) between the two is that an SR50 only covers present tense. Meaning, they let the BMV know, yes, you've taken out this policy. An SR22 covers both the present and the future. So as long as you're required to carry an SR22, you have to keep this policy active. Otherwise your license will be suspended again. But that's the only difference between the two.
Now here is where it gets tricky. Because if you need an SR50, since Indiana law has done away with them, so have almost all of the auto insurance companies. And so the BMV allows you to
substitute an SR22 for an SR50. It doesn't work vice versa because the SR22 has a higher standard. But if you need an SR50, you're probably going to have to take out an SR22 instead. But don't
worry. It works just fine, and you're not held to that higher standard of following you in the future like an SR22 does.
Here's where the problem arises. Recently, I've received calls from a few drivers that the BMV told that they need both an SR22 and an SR50. This is not only illogical, it doesn't make sense but it's completely not true. Problem is, BMV employees don't get as much training as they should, and some people don't quite have it right. So if this happens to you (and I've had this occur several times over the last few months): If you're in person at the BMV, try moving to another line where hopefully somebody's more experienced and knows what they're talking about. Or, if you're on the phone ask to speak to a manager. And another idea may be to just call another BMV branch and hope you get somebody that knows what they're talking about. But anybody that tells you that you need
Both, it is simply not true!
So when a BMV employee tells you “you need both filings”, what then? Well, if you're told that you need both the SR50 and the SR22 all you need to take out is the SR22. It's as simple as that.
Contrary to popular belief, neither the SR50 or SR22 is actually auto insurance coverage. All it does is simply attach onto an auto insurance policy. Now what type of policy do you need? Well, that's real simple also. If you own a vehicle or have a vehicle registered in your name, you simply need a regular auto insurance policy and attach the SR22 onto it. If you do not own a vehicle, you need what's called a named operator policy (also known as a non-owners policy) and attach the sr22 onto it.
If you would like to get a quote, I'll be happy to help you with that. I put links here for both vehicle owners and those who don't own a vehicle. Click on those links and it will take you straight to a quote page. Fill out some information, and I'll run a quote for you. Or, if you'd rather just get a quote by phone, I've also posted my phone number at the bottom. Thanks for watching and have a great day!
Get an SR22/SR50 quote with Lyles Insurance here if you own a vehicle.
Get an SR22/SR50 quote with Lyles Insurance here if you don't own a vehicle.
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Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..