SR-22 (the “SR” stands for “safety responsibility”) is a document that verifies that someone has automobile insurance. The SR-22 is prepared by an insurance company and then filed (by the insurance company) with the department of motor vehicles (DMV). The SR-22 is not an insurance policy. It is evidence that you have a policy.
Typically, an SR-22 is required when a driver seeks to reinstate a driver’s license after being convicted of a DUI, reckless driving, driving without insurance, or some other driving violation that’s resulted in a suspension. The SR-22 may be required whether you own a vehicle (owner SR-22) or not (non-owner SR-22). The SR-22 is usually required for a number of years – for example, five years following a DUI conviction. If the policy holder fails to pay the premiums, the SR-22 is cancelled and an SR-26 is filed with the DMV. When the DMV receives the SR-26, the policy holder’s license is suspended until a new SR-22 is filed. Here at Insurance Services Of Texas, we specialize in SR-22 insurance. If you need an auto insurance agency in Frisco that offers SR-22 insurance, please call us today at 972-377-9000.
How much coverage will I need?
The minimum amount of coverage you must obtain with SR22 insurance is the same as it is for drivers with standard auto insurance policies. In Texas, this works out to $30,000 for each person who is injured in an accident which is your fault, with a maximum of $60,000 per incident. Of course, you may buy more coverage with SR22 insurance if you want to do so.
Is SR22 insurance more expensive than standard auto insurance?
The fact that you are obtaining SR22 insurance in the first place (because you have done something to necessitate the suspension of your driver’s license) means that you will be placed in a higher risk category — and you will therefore have to pay more than you otherwise would to remain insured.
When do I have to renew my SR22 insurance policy
If you buy SR22 insurance, you will have a smaller margin of error when it comes time to renew your policy. With standard insurance, you can renew your policy right up until the day it expires (or even after that, if you do not drive in the interim). However, companies that provide SR22 insurance are obligated to inform the Texas DPS if the policy is not renewed within 15 days of its expiration date. A non-renewal can result in a re suspension of the policyholder’s driver’s license.
It can sometimes be a hassle to acquire Texas SR22 insurance. But if you know all the requirements, you can obtain the proper coverage, get your driver’s license back, and become a lawfully insured driver once again. Here at Insurance Services of Texas, we are your SR-22 auto insurance agent. Because we are an independent insurance agency, we have more than 100 insurance to quote you with. This will ensure you are getting the best price for your SR-22 insurance policy.