Once you’ve purchased or renewed a policy, most providers will file an SR-22 for a fee of $20 to $50. One or more reinstatement fees may also be required once your filing period is up.
But the fees aren’t what’s expensive — your insurance premiums will rise.
SR-22s are often required after a driving conviction, such as driving without insurance or a DUI. After such a conviction, you’re considered a “high risk” driver by the state and most providers — which typically results in higher insurance rates. Still, you’ll find providers out there that specialize in high-risk drivers.
Talk to your provider about how much you can expect your rates to increase.
In Indiana, you’re required to maintain an SR-22 from three following your first or second insurance suspension. After your third or subsequent suspensions, you’re required to maintain your SR-22 for five years.
Make sure you understand your role in maintaining your insurance and your SR-22. A lapse or nonrenewal could set you back a lot of money and time.
If a lapse occurs at any point during the mandated three to five years your insurer will file an SR-26 with the state. When the BMV receives this report your license will be suspended until your SR-22 coverage is renewed or until the requirement period ends.
You must confirm with the BMV that your SR-22 period is up before you cancel your insurance. Once you’ve notified the BMV and paid any reinstatement fees, you may change your policy.
Your state DMV will let you know if you need to file an SR-22. Indiana law may require you to file an SR-22 if you’re driving privileges have been suspended for:
You still need to file an SR-22 if you want to get your license reinstated, even if you don’t own a car. Ask your insurance provider about non-owner or operator insurance policy.
If you have an SR-22 from another state, you must maintain it while driving in Indiana. Your SR-22 is likely to be sufficient in Indiana, but it’s best to verify coverage with the BMV and your insurer.
Three to five years of maintaining a filing can be a pain, but paying extra reinstatement fees and having your license suspended is an even bigger headache. Stay on top of your insurance payments and maintain a clean record during your filing period to avoid the extra hassle and cost.
With higher premiums, it’s even more important to shop around for insurance. Compare your options and find the policy that fits your budget and your needs.
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