What does Ohio SR22 Bond Cover?

What does an Ohio SR22 Bond Cover?


  There is a lot of confusion about this. Let me help clarify....


  There is NO SUCH THING AS AN "SR22 BOND". An SR22 FILING IS NOT Insurance. An SR22 is a state filing requirement that gets attached to either an auto insurance policy or a financial responsibility bond.

• That is where the confusion comes in. The term "SR22 Bond" really means a financial responsibility bond with an SR22 filing attached to it. Over time, the incorrect term "SR22 Bond" has become accepted. I use the term myself on this website simply because it has become the accepted jargon. Just as long as you understand the difference, no worries.
• Understand that while many SR22 filings are attached to financial responsibility bonds, other SR22 filings are attached to regular auto insurance policies. I'll explain the difference in a bit, but for now, just understand that not all SR22 filings are actually bonds.

    
   So ..... If an SR22 is not actually insurance. What is it then?


     An SR22 is a state filing that requires the insurance company to notify the Ohio BMV if the policy ever cancels / lapses. So when an a policy with an SR22 cancels, your drivers license will be suspended until you either reinstate the policy, or start a new policy that has the SR22 attached to it.
    
Should I attach the SR22 to regular auto insurance or a financial responsibility bond?

•   If you own a vehicle, you definitely want to attach the SR22 filing to a regular auto insurance policy. That's your only chance of getting the adequate coverage you really need!
•  If you do not own a vehicle, you will want to go with the financial responsibility bond. **other options for non owners include "named operator" or "broad form named driver" policies, which provide better coverage for a little more premium. Give me a call or email and I will be happy to explain the differences between the three.

    
    Where can I find cheap SR22 Bonds In Ohio?


  The key to getting cheap SR22 Bonds in Ohio is a matter of getting quotes with the right companies. Many auto insurance companies aren't friendly with SR22 drivers, and charge outrageous premiums. However, there are several companies in Ohio that offer great rates for SR22 bonds.
  When you get a quote with my agency, I have 6 companies that go easy on SR22's. You fill out one simple quote form, and I will personally run your quote and find the company with the best rates.


If you own a vehicle, get a quote with Lyles Insurance here


If you do not own a vehicle, get a quote with Lyles Insurance here


​Call me for a Quote



Related Blog Articles:

SR22 Bond in the Portsmouth Ohio area: FAQ’s

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