Understanding Virginia FR44 Auto Insurance Filings

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Transcription – FR44

Slide 1 :

Hello! I'm Dan Lyles with Lyles Insurance. And in this video, I'm going to help you in understanding Virginia FR44 auto insurance filings. We're going to go over what an FR44 filing is. The type of auto insurance policy you need to attach it to. And also, I'll give you some pointers about how to find the best rate.
 
Slide 2:
 
 
First of all, what is an FR44 filing? You probably haven't seen too much about it because Virginia's only one of two states that have FR44’s. But an FR44 is not auto insurance. It simply attaches onto an auto insurance policy. And what that filing does. It's a guarantee to the Virginia state DMB that you're carrying at least double the state minimum in auto insurance liability
coverage, which is 50/100/40. So if you need an FR44 filing, you're going to have to choose a liability level of coverage at least that high.
 
Slide 3:
 
When it comes to Fr44 filings, there's good news and bad news. Here's the good things it does for you. Once you take out an auto insurance policy with an FR44 attached, the company will notify the Virginia DMV electronically that you've taken out an auto insurance policy that contains at
least double the state minimum liability limits. Once the DMV processes your FR44, your license will then be reinstated (assuming you've paid all your fines and met other reinstatement requirements that you may have had).
 
Slide 4:
 
But now, here's the bad news about an FR44 filing. It acts as what I call a “tattletale”. That's the easiest way to understand it. Once your policy is no longer active, the auto insurance company is required by law to notify the Virginia DMV that your policy has either lapsed, cancelled or expired. Once this happens, your license gets suspended again until you reinstate your old policy, or start a new one with another FR44 attached.
 
 
Slide 5:
 
Now this is the part that's really important about how to set up your policy. And it's very simple. If you own a vehicle or have a vehicle registered in your name, you need to attach your FR44 filing on to a regular auto insurance policy. Now, for those of you who are trying to get your license back but don't yet own a vehicle, what you'll need to do is take out what's called a Named Operator's auto insurance policy. It's also known as a non owners policy. Either one will attach an FR44 filing and get your license back.
 
 
Slide 6:
 
Finally, let me give you a quick pointer about how to find the lowest rate regarding FR44 filings. When it comes to FR44’s, you're going to find that auto insurance companies tend to fall into one of three categories. Number one, they don't write FR44 filings at all. Number two, they will write FR44 filings, but they charge you an arm and a leg for it. Or the third category, which is what you're looking for, is the companies that tend to go easy on FR44’s and drivers who have dings on their driving record.  The most efficient way to find this is to quote with an independent agent that specializes in high-risk auto insurance. That way you can get quotes with multiple companies at once instead of quoting with just one company at a time.
So I hope you've learned what you need to know about the basic understanding of an FR44 filing. Thanks and have a great day! 

Link from video: SR22, FR44 Insurance Page