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Hello I'm Dan Lyles with Lyles Insurance. And in this video, we're going to go over Indiana SR22 insurance. We're going to cover what is an SR22 filing, what an SR22 filing does, the type of insurance policy you need, and also help you find the best rate.
First, let's cover the basics of what an SR22 filing is. Contrary to popular believe an SR22 is not auto insurance. It's just a state filing that attaches onto an auto insurance policy. What it does, it keeps dibs on you. It's a guarantee to the Indiana BMV that you're carrying at least state minimum liability auto insurance at all times. And when you buy a policy with an attached SR22, that’s usually the last step you have to take before you get your license reinstated.
Here's how an SR22 filing works. When you buy an auto insurance policy with an SR22 attached, the company will notify the Indiana BMV electronically that you have taken out an auto insurance policy that contains at least state minimum liability coverage. And likewise, they also have to notify the BMV if you ever lapse, cancel or expire on a policy. So it's very important that you keep this active during the period of time that you're required to carry an SR22.
The easiest way to understand how an SR22 filing works is to think of it as a “tattletale”. In other words, if you ever cancel or lapse on a policy that has an SR22 attached, the auto insurance company is required by law to tattle on you to the state BMV. And once that happens, your license will be suspended again until you either reinstate your old policy, or start a new one with another SR22 attached.
It's very important that you set up an SR22 properly. And to do so is very easy: If you own a vehicle, you just need to attach your SR22 onto a regular auto insurance policy. If you don't own a vehicle, you need to buy what's called a Named Operators auto insurance policy. Either one of those policies, an SR22 can attach onto. But the frustrating part, as you see at the bottom, not all companies will write SR22's and not all companies will sell named operator policies either. So it gets a little frustrating. But I'm going to help you with that here in just a minute.
I quickly want to cover SR50 filings because this will apply to some of you. Instead of being required to carry an SR22, some of you may be required to carry an SR50. An SR50 is unique. It was only for Indiana drivers. However, they did away with that several years ago. It's been replaced now by the SR22. But drivers who were charged before the law changed still get grandfathered into the old SR50 requirement. Just understand that if you need an SR50, an SR22 will work fine instead. Most companies won't even write SR50s anymore. So you just about have to take the SR22 instead of the SR50. But don't worry about it. It will substitute just fine.
Now as far as finding the lowest rate, I know it can be frustrating. What I would suggest you do is find an independent agent that specializes in high-risk auto insurance. The companies that these agents carry tend to go easy on SR22's and drivers who have dings on their driving record. And the best thing is, you can get multiple quotes at once instead of quoting one company at a time. And if you would like for me to personally run you a quote, I'll be happy to do so. I will include links at the bottom of this page. If you're watching this video from my blog, I will include it in the transcription area. Or if you're watching it on YouTube, I'll put it in the site description area. You can click on those links and easily get a quote. And I've also posted my phone number if you'd rather just give me a call.
So I hope you've learned what you need to know about SR22's. Thank you for watching and have a great day!
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Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..