When it comes to auto insurance sometimes we are taught things that simply are not true. They are known as myths. Let’s look at some of the most common auto insurance myths:
What is the SR-22 Driver Filing?
A SR-22 is a certificate of insurance filed by your insurance company directly to the Department of Motor Vehicles. The SR-22 is issued in the following forms: operators certificate, Owners Certificate, and Operators-Owner Certificate.
Minimum Liability Limits
The minimum liability limits must meet your state's requirements. Your insurance agent can tell you what the minimum requirements are for your state.
How The Process Works
There is not much for you to do in this process. All you have to do is request your insurance company to file a SR-22 for you, then they take care of the rest. If you do not have insurance, or your insurance company doesn’t file SR-22s, then you can go online and search for an insurance company that does.
Avoid Future SR-22 Cancellations And Suspensions
Once you have your SR-22 coverage you want to make sure it does not get cancelled or suspended. You can do this by renewing it early. It has to be renewed at least 15 days before it expires to make sure that it is not cancelled. The earlier you renew it, the better you will be and the less likely it will be cancelled.
Alternate Methods Of Filing Proof
There is a way you can get around filing a SR-22 insurance policy. You have to pay $55,000 in securities with the state treasurer.
When Is A SR-22 Required?
Not all states require a SR-22 but the ones that do may require them for any of the following reasons:
Unsatisfied Judgments
Major Convictions
License Suspensions
No Insurance Violations
No Insurance At The Time Of The Accident