Having an SR-22 will cost you some money in the insurance department. Whether you’ve obtained a DUI, a ticket for speeding or fled an accident, an SR-22 highlights you as an at risk driver.
While maintaining an SR-22 status alone won’t be too expensive, it can certainly drive up your insurance rates.
Auto insurance companies may be less likely to insure you, too. An SR-22 status is indicative of potentially unstable driving habits. While the costs tied to an SR-22 status differ from area to area, it’s still important to understand the bottom line when it comes to car insurance.
Higher Premium Costs
If you’re required to get an SR-22, you’ll need to locate an insurance provider willing to issue SR-22 insurance. Not all providers offer it, and those that do may require higher premium costs. Your insurance provider gambles money on every policy it issues, and drivers maintaining an SR-22 status may be hard bargains.
Your rates will reflect your insurance company’s perception of the above odds. For this reason, an SR-22 may push your auto insurance premiums from around 14 percent to as high as 40 percent.
In fact, a lot of premium insurance companies refuse to insure SR-22 drivers in general—due to the risk.
In addition to paying a higher premium, you’ll likely need to pay a small fee to file for an SR-22. This fee is normally between $20 and $40, but it will vary from provider to provider.
In some states, you’ll have to pay the SR-22 fee in full upon filing. Check with your insurance provider about higher rates, as an SR-22 will likely boost annual costs while it’s active.
Can an SR-22 Status Go Away?
Fortunately, an SR-22 can go away. In many states, an SR-22 lasts about three years. Depending upon your level of risk, however, you may be able to have it lifted sooner.
Check with your provider about your driving record, and examine any violations which triggered the need for an SR-22. Sometimes, authorities can clear an SR-22 from a record prematurely, though they will take a closer look at the driver’s record.
Auto insurance is flexible, and your provider is available to help you. Discuss your options, chart a payment plan and examine your past driving record to get the most value from your plan. We are happy to offer resources for you to follow regarding auto insurance. Do you have questions about SR-22 insurance in Atlanta? Call us today at (770) 938-4311.