We receive a lot of questions asking “What does SR-22 mean?” An SR-22 is simply a financial responsibility form proving that you have insurance coverage. The insurance company files this form with the state on your behalf when you set up your insurance policy. Make sure you notify the insurance company that you need an SR-22, because not all companies provide this service.
How Long is it Required For
When an SR-22 is required, it is usually required for three consecutive years. This can vary by state, and for the reason it was required. You will want to check with your Department of Motor Vehicles (DMV) to confirm how long it is required for your specific case.
When is SR-22 Required?
An SR-22 requirement can be issued by the state or a judge. There are a variety of reasons that they can become required. Two of the most common times they are required is after receiving a ticket for DUI/DWI or driving without insurance.
Depending on your state of residence, an SR-22 may be referred to as an FR-44.
What Happens if I Change My Policy
What many people do not know is that when you cancel an insurance policy, that company will immediately notify the state that you are no longer covered and your SR-22 form will be rescinded. It is critical that if you are cancelling your policy because you are changing insurance companies, that you set up the new policy with an SR-22 before canceling your previous policy. Otherwise, it may reset the time requirement.
For example: After two years of being with the same company that has an SR-22 filed on your behalf, you decide to switch companies. You let your policy lapse on a Tuesday and set up a new policy on Wednesday with an SR-22, that one day lapse in coverage can cause your three years start over from the beginning. Most states will not “give you credit” for the previous two years.
If you need an SR-22, find out for sure how long you are required to have it. If you change insurance companies make sure that you set up the new policy with an SR-22 before canceling your previous policy.
Who is Answer Financial?
As one of the nation’s largest and most reputable auto & home insurance agencies, Answer Financial has insured nearly 5 million homes and vehicles. We work with 40+ top-rated carriers to save our customers an average of $565 a year on insurance.*
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