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What Does SR-22 Insurance Cover?

by Louise W. Rice
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Many individuals are unfamiliar with SR22 insurance. Perhaps you know someone who has needed it at some point in their lives. Or maybe you are that somebody.

An insurance company will issue SR22 as a document and submit it to the Department of Motor Vehicles (DMV) to verify that a driver has enough auto liability insurance. Drivers whose licenses have been suspended or revoked due to vehicle accidents, speeding, or driving while intoxicated are typically compelled to comply.

Where do I buy it?

Contacting an insurance company and meeting with an agent can help you negotiate cheap sr22 insurance. Or you could decide to make this purchase online instead.

The difference between these two purchases is that if you elect to buy online, you may not know the fee’s price until after you’ve completed the transaction. As costs differ from state to state, this could be challenging.

On another note, when you contact your agent directly, you will quickly learn how much money you need to budget for fees. SR22 insurance is not available from all insurance companies.

SR22 at your service

SR-22 insurance does not provide insurance coverage in and of itself. Instead, it’s a document demonstrating that you have the insurance coverage necessary by the court or the state’s DMV.

In essence, the certificate verifies that you have liability insurance to comply with the law. The certificate is delivered to your DMV and stored on file for a set period.

This SR-22 is merely a certificate and shouldn’t be treated as car insurance. In addition to your SR-22 coverage, you will need to acquire auto insurance. But even then, you could still enjoy the following SR-22 coverage:

Collision insurance

Collision coverage is another sort of insurance you may get to protect yourself while driving. When you are in an accident, collision insurance may assist you in covering the costs of repairing or replacing your vehicle.

Collision insurance is an excellent complement to liability insurance because it can assist you in getting back on the road while liability insurance covers the other party’s costs.

If you opt not to get collision insurance, you will most likely be responsible for the cost of your repairs.

Suppose you don’t own a vehicle yet. The law would then require you to file an SR-22 request. For this, you’ll need to get non-owners insurance coverage and an SR-22, precisely like a standard policy.

Car insurance is linked to the car. However, a non-owners policy is similar to a state-mandated minimum policy that allows you to drive any vehicle legally.

Liability insurance

You must also get liability insurance when you obtain SR-22 coverage. Other drivers are covered by liability insurance if you inflict bodily harm or property damage to them.

Basically, if you cause an accident and are at fault, your basic liability insurance may help cover for the other party’s injuries as well as their personal belongings.

In Illinois, you must have a liability insurance policy covering roughly $20,000/$25,000/$50,000 in damages. This implies that if you cause a covered accident, you’ll receive at least $25,000 bodily injury coverage per person in an accident. It’s worth noting that it can raise to $50,000 depending on your needs.

You can also get up to $20,000 in coverage for damage to someone else’s property. Take note that this is the bare minimum of coverage required to drive in Illinois. To protect your assets, you might purchase coverage with larger limits.

Takeaway

Insurance companies will revoke the SR-22 status once all responsibilities have been completed. It will be necessary to contact your insurance company at that time to ensure that you are still insured. Keep in mind that a couple of insurance companies provide premium discounts, so check with your agent to see what you might be eligible for.

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