What is an SR-22 Form?
An SR-22 Form is the official document provided by an insurance company which certifies that a driver is insured. It is particularly requested for problem drivers who have been charged of Driving While Intoxicated or Driving Under Intoxication.
Purpose and Function of SR-22 Form
As indicated in the law, any driver is required to submit an SR-22 Form as proof of insurance to the Secretary of State through the insurer. This is to be done in order to prevent possible suspension of a person’s driver’s license or if any driver wishes that his be reinstated.
Another reason for the submission of an SR-22 form is for the protection of other drivers. It would be very difficult for victims of car accidents to receive their compensation especially for serious injuries that may lead to disfigurement or death if the driver is uninsured. An SR-22 form is a security measure mandated by the state to help future victims of car accidents in receiving their compensation accordingly.
Specific Features of an SR-22 Form
An SR-22 Form requirement may vary from one state to another. Nevertheless, it is a must that a driver purchases an insurance policy that meets the minimum requirement of the state. Otherwise, a driver may opt to purchase an SR-22 bond wherein the surety company guarantees maximum payment of the SR-22 pay-out for the medical expenses incurred by the driver. The difference will then simply be collected from the future pay-out of the driver.
Common SR-22 Misconceptions
An SR-22 form is never to be used as evidence for any comprehensive, collision or even theft protection. It does not involve protection coverage for you vehicle nor does it provide complete proof of physical damage protection. An SR-22 form is simply a document which shows that a driver is financially capable of satisfying a liability claim.
Process of Obtaining an SR-22 Form
If you are required by the state to submit an SR-22 form then you should immediately call your insurance agent to inform them about this matter. Seek for the necessary assistance so your request may be quickly processed. Soon, you will be required to undergo a driving re-assessment. The surety company will reassess you risk rating and will provide you with a revised quote in accordance with your assessment result. Specify the type of insurance coverage you wish to purchase. Most often than not, collision and comprehensive type of insurance coverage is the minimum requirement assigned by most states. You need to purchase an insurance policy before you can be issued as SR-22 form especially if you are not yet insured. The premium will be extremely higher than normal premiums for drivers who need to purchase a policy for the sake of obtaining an SR-22 Form but you need to pay this before the surety company mails your SR-22 Form. After receipt of the form, fill it out then submit it your local DMV so you can have your licensed restored immediately.
If in case surety companies will deny your request to purchase a policy, then you may contact your local DMV and consider dealing with assigned risk program companies available in your state for you to obtain an SR-22 Form.