If your driver’s permit has been suspended, your state Department of Motor Vehicles (DMV) may expect you to acquire SR-22 Insurance, otherwise called a Certificate of Financial Responsibility.
SR-22 Insurance confirms the purchase of vehicle protection – which is required by the state for reestablishment of driving benefits.
A judge may order you to obtain an SR-22 after certain violations, such as:
- DUIs, DWIs, or other moving violations
- A suspended license or having it revoked
- Traffic offenses
- Failure to maintain the mandatory insurance coverage required in your state
On the off chance that you are required to get a SR-22, the municipal court where you showed up or the Department of Motor Vehicles will inform you via mail.
The insurance agency will charge an expense, generally around $25, for giving a SR-22 endorsement for your benefit.
The cost of an SR-22 varies by state. Any extra expenses might also be charged by the state.
Non-Owner SR-22 Insurance
Non-owner SR-22 car insurance is a special type of insurance that applies to those who drive operate someone else’s car, and in some states, those convicted of DUI/DWI.
If you cause an accident, a non-owner policy will cover expenses to cover the other party during an accident or personal injury, but not the vehicle you are driving.
A non-owner policy only covers a person for liability.
Although the risk to the vehicle you are driving remains, the higher limits you purchase for a non-owner policy to cover will give you greater assurance in case of an expensive accident.
In most states/cases, if the other person is at fault, their insurance should cover the costs of an accident.
And depending on the state you are in and your insurance provider, a non-owner policy may not cover a vehicle owned, or frequently used, by the convicted driver.
Do keep in mind if you are ordered by the court to obtain an interlock device or IID, you may not be able to get non-owner policy insurance.
SR-22 Insurance Terms
Terms and prerequisites differ by state, however by and large, you should hold both the SR-22 and your insurance policy for at least 45 days.
As an alternative to SR-22 Insurance, an individual can make a $70,000 cash deposit with the Illinois State Treasurer.
The Secretary of State will verify the deposit by issuing you a certificate.
A real estate bond or surety bond are other alternatives to SR-22.
With a real estate bond, two other individuals use their own real estate property to insure you up to $70,000 in Illinois.
A surety company will issue you a surety bond for $70,000 in Illinois, paying for any damages or claims made against.
The Secretary of State will need a copy of either bond, for proof of purchase.
In the event your protection passes, your safety net provider is required — by law — to tell the Department of Motor Vehicles office.
Your permit will be suspended until your protection has been re-established.
If you are required to obtain SR-22 in Illinois, we can help. Contact us today or give us a call!