What is an SR22 bond and how is it different from regular car insurance?
An SR22 filing is not really insurance at all. It is a state filing that attaches onto either a regular auto insurance policy or a financial responsibility bond (which is how the incorrect term "SR22 bond" got it's nickname). An SR22 filing is a guarantee to the state BMV that a driver is keeping active auto insurance with at least state minimum liability coverage. Once your drivers license is reinstated, you may be required to carry an SR22 for a certain period of time.
What happens if I let the SR22 cancel / lapse?
If you required a state filing by the Ohio BMV, then the company is obligated to notify the Ohio BMV that your policy has cancelled. This will result in your license being suspended again, and your license will remain suspended until you reinstate the bond or purchase a new one.
What are the state minimum liability minimum limits in Ohio?
State minimum will pay up to $12,500 per person for injuries, up to $25,000 total. Also, if the accident causes damage to the other vehicle, it will pay up to $7500 for property damage. If the damages you caused exceed the policy limits, you may be held responsible for the remainder of the damage.
**** NOTE: as of Sunday December 22, 2013, the new law goes into effect and these numbers above will increase. The new law requirement will double the bodily injury coverage, and more than triple the property damage coverage. The new coverage requirements will be 25,000/50,000/25,000.
Does an SR22 cover a driver on a MOTORCYCLE?
NO! Auto insurance coverage of any type does not carry over to a motorcycle. If you already have an active SR22 filing with an auto policy, there's no need to purchase a second SR22 for a motorcycle. You simply need to buy motorcycle insurance by itself to drive legally. If you do not have an SR22 in force and you need it to drive a motorcycle. I have companies that write SR22's just for motorcycles. If you need an SR22 just for a motorcycle, you can get a motorcycle insurance quote here.
How long will the Ohio BMV require me to carry a state filing?
This answer can vary, especially if it's a court-ordered SR22. But generally, SR22 filings are required for 3 years. To find out when your SR22 expires, you can find out online for free at the Ohio BMV website and ordering a 2 year driver abstract.
How long does it take for me to be covered on an SR22 bond?
In many cases it only takes minutes to put the policy in force. There are two ways to process it with the Ohio BMV:
Easy option: Simply do nothing. Once you buy a policy, the SR22 automatically files electronically to the state BMV. The BMV usually processes the SR22 within one business day.
Faster option: I can print your SR22 paperwork right away and email/fax it to you. So you can take the paperwork to a BMV reinstatement location personally, where they will process it for you in person.
How do I set my SR22 Filing up as far as auto insurance is concerned?
This is the part where people like to make things over complicated. But it's really very simple:
Where's the best place to find the cheapest SR22 rates?
Your best bet is to find an independent agent with companies who specialize in SR22's and high risk insurance. That way, you only need to quote with an agent once. An independent agent will do the shopping around for you to find the company with the cheapest rate. If you would like to get a quote with me, simply click on one of the two links below, and I will quote you with the SR22 companies that I carry, and find you the best rate. And as always, I handle all quotes personally and privately.
Get an Ohio SR22 quote here if you own a vehicle.
Get an Ohio SR22 quote here if you do NOT own a vehicle.
Video: Ohio BMV & SR22 Auto Insurance Reinstatement Guide
What is an Ohio SR22 Bond?
Ohio SR22 Bond FAQ's
Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..