An SR-22 is a form your insurance company fills out with the DMV, also referred to as a certificate of financial responsibility, that proves to your state that you have the required amount of car insurance. It’s usually required for drivers who are considered high risk after being caught driving without insurance or after getting a DUI, which may increase your insurance rates. Find out how to save on SR-22 insurance and get back on the road on the cheap.
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Filing an SR-22 isn’t expensive. Your insurance company typically charges $25 to $55 to file the certificate. Your insurer can help you fill out the form or fill it out and send it for you.
But expect your insurance rates to go up by 50% or more depending on why you need an SR-22, according to Finder research. For example, getting a DUI could raise your insurance rates by $1,250 for three to five years, plus court fees and other costs.
| Company | Cheapest monthly rate |
|---|---|
| Geico | $50 |
| USAA | $52 |
| Progressive | $67 |
| Mercury | $71 |
| 21st Century | $81 |
| Nationwide | $83 |
| Allstate | $87 |
| Liberty Mutual | $89 |
| State Farm | $91 |
Even with a DUI or SR-22 on your record, you can still save money on SR-22 insurance.
You may find yourself paying higher premiums on your car insurance policy because of your driving history. Consider these factors that affect your SR-22 insurance rates.
Most states require an SR-22 for three years, though how long you’ll need an SR-22 varies by state and situation. During that time, you’re required to pay for and file a new SR-22 each time you renew your policy.
If you commit dangerous driving offenses in those three years, you could extend how long you need an SR-22. If you stay free of accidents, you can forfeit the certificate and get back to low-risk insurance coverage.
Yes, nonowner coverage is a great way to meet your SR-22 requirement if you don’t have a car or don’t drive much. But stay honest about your true address or who owns the car to avoid denied claims for lying to your insurer.
An SR-22 isn’t the end of the world, but the high-risk driving history behind it may be the end of cheap car insurance rates for now. You can still save even if you need an SR-22, and the best way to do that is by comparing rates from different car insurance companies.
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