There are many people who don’t exactly understand SR-22 insurance and its various implications. If you’re one of them, here’s a simple guide of all the basic information you should know about SR-22 insurance in Colorado
What is SR-22 Insurance?
Despite commonly being called SR-22 insurance, filing an SR-22 form is not the same as filing for insurance. It’s not actually an insurance policy at all. An SR-22 is something the Colorado Department of Revenue may require you to file after having your driver’s license suspended or revoked. Any serious traffic violations like a DUI hit and run, reckless driving, or others can cause you to need SR-22 documentation before you get back on the road.
Your auto insurance company is generally the one who files the SR-22 certificate with the Colorado DMV to signal that they have agreed to provide you insurance and that you have the minimum required liability coverage. In Colorado, those minimums are:
- $15,000 for property damage
- $25,000 for bodily injury to a single person
- $50,000 for bodily injury to multiple people
Who Needs an SR-22?
You don’t have to wonder whether you need an SR-22 certificate or not. If you need one, the relevant authorities will notify you. The most obvious sign that a person needs an SR-22 is that their license has been suspended or revoked for a high-risk traffic offense. Before regaining their driver’s licenses, these individuals will need to file the SR-22 form. If you’re going through the process of reinstating your license and for some reason don’t know whether you need SR-22 insurance, reach out to the DMV. You don’t want to get insurance without fulfilling a necessary SR-22 requirement since that could cause the authorities to revoke your driving privileges once again.
For those wondering which states require an SR-22, it is the majority. Colorado is one of the many states that require SR-22 for serious traffic violations. The only states that do not are Pennsylvania, Oklahoma, North Carolina, New York, New Mexico, Minnesota, Kentucky, and Delaware. If you move from one of these states into Colorado or another SR-22 state, you’ll have to check the new requirements governing your driving.
What’s the First Step with an SR-22?
If you get the order that you need an SR-22, don’t panic. You might not even need to change insurance companies. The first step you should take is contacting your current car insurance company to ask whether they will fire the necessary paperwork for you. If they refuse, that’s when you’ll need to start looking for a new car insurance company.
How Long Must the SR-22 Stay on File?
The period during which you must keep an SR-22 on file with the Colorado Department of Motor Vehicles will depend on your particular situation. Generally, the time will range between nine months and three years, though three years is the most common.
If you change insurance companies before the mandatory period is over, you’ll need a new SR-22. Also, keep in mind that your insurance coverage cannot lapse during the SR-22 period. Over the time you’re required to have an SR-22 on file, you must keep up continuous insurance coverage with the SR-22. If your coverage lapses for any reason, your insurer will have to communicate that to the DMV and they will likely suspend your license once again. To avoid all the hassle of going through this process again, just be sure to maintain continuous coverage.
How Much Does an SR-22 Cost?
Filing the form itself is relatively inexpensive, about $25, but the real cost comes from the driving violation the driver committed. A violation like a DUI can drive up the cost of your auto insurance policy significantly. Your premiums with SR-22 coverage will be higher than those of clean drivers.
You also have to consider that drivers who need an SR-22 certificate may struggle to find any car insurance providers to insure them. You may be deemed a high-risk driver which can make finding insurance more difficult.
How to Find Affordable SR-22 Insurance?
As mentioned, finding affordable insurance with an SR-22 on file can be difficult. It’s not impossible, though. If you’re a driver in Colorado with an SR-22 seeking affordable car insurance, look no further than Affordable Insurance.
The experts at Affordable Insurance in Denver are experienced in helping drivers deemed high-risk or those with an SR-22. Reach out to find car insurance coverage at the best possible price