Ohio SR22 Insurance
Ohio SR22 Insurance
Ohio SR22 Insurance - Select Insurance Group provides Cheap Ohio SR22 Insurance, Cheap Ohio Non-Owner SR22 Insurance and Cheap Ohio SR22 Bonds. The Ohio Bureau of Motor Vehicles may require you to carry SR22 insurance or an SR-22 bond. Both insurance and bonds provide liability insurance for at least the state minimum coverage level but insurance can provide more options. An Ohio SR-22, also known as an Ohio sr22 bond is a form issued by an insurance company and used to prove your “Financial Responsibility” to the State Bureau of Motor Vehicles. This is a reinstatement requirement for most BMV ordered suspensions, including those for 12 points, hit/skip, ticket or accident without insurance, random selection, noncompliance, DUI, and others. The Ohio SR-22 guarantees to the Bureau of Motor Vehicles that an insurance company has issued at least minimum liability coverage for the person making the filing. The filing also requires that the insurance company notify the BMV if the coverage is cancelled for any reason. This is a way for the BMV to keep tabs on whether or not someone has insurance. In Ohio, The BMV usually requires that you file an SR-22 for a period of 3 years from the beginning date of the suspension. Some suspensions may have as much as a 5 year period requirement; However, the Ohio BMV will accept SR22 filings showing the purchase of either an Auto Liability Insurance Policy, for vehicle owners who want more than the minimum, or a Financial Responsibility Bond, designed for those who want just the minimum coverage. The state does not care whether you purchase a policy, which follows your car, or a Ohio FR Bond, which follows you and covers you while driving any car, owned or non-owned.
What is an SR22 bond?
The bond will provide liability protection of $12,500 per person and $25,000 per accident plus $7,500 for property damage. This type of bond will cover you no matter which car you are driving and is often referred to as Ohio’s Financial Responsibility Filing. Remember that the bond is only for liability protection and it will not insure your vehicle.
Should I buy an SR22 bond or SR22 insurance policy?
If you are only looking to fulfill your court ordered requirements and don’t care to protect your vehicle or yourself against uninsured drivers than a bond will work. An SR-22 insurance policy will provide the state with your court required documents plus add benefits such as comprehensive and collision coverage for your vehicle. Most people opt for the insurance policy. Get SR22 insurance quotes from local companies to compare rates fast. The Ohio SR22 Bond, also known as a “Financial Responsibility Bond” or “FR Bond”, is an Ohio minimum limit liability coverage that pays for damages and personal injury that you may cause to another party in an accident. It covers you while you are operating ANY private passenger car, owned or non-owned. The FR Bond was designed for those who want the minimum amount of coverage accepted by Ohio’s Financial Responsibility Laws. The SR22 Bond will pay up to $25,000 per person / $50,000 total per accident for bodily injury that you may cause to people in another vehicle or to a pedestrian. It will also pay up to $25,000 for any damage that you may do to another person’s property. The FR Bond does NOT cover damages to the vehicle that that you are driving nor does it cover your medical expenses or those of your passengers.
Reasons you may be required to have an SR22:
- 12 points on your license
- Involved in accident without insurance
- Driving under the influence (DUI)
- Traffic violation while driving without insurance
How much does SR22 insurance cost in Ohio?
Most insurance companies will charge a filing fee of $25 to $50 to add the SR-22 form to an auto insurance policy. The type of policy can be liability only, full coverage, or a non-owner policy. With regards to the cost of such policy it truly depends on the following factors and not directly related to the SR22 filing in OH:
- Credit History
- Driving Record
- Vehicle Model
Ohio SR22 Laws
Do not let the insurance policy lapse or cancel as the provider will notify the state and your license will be suspended again. The SR22 is an add on to a standard auto insurance policy that guarantees the state will be notified of any change in status and is commonly referred to as a future financial responsibility filing. You can change insurance companies but be sure to get a new SR22 filed before the old one is cancelled.
Ohio SR22 law requires the filing for three years from the suspension date or 5 years if you were not carrying insurance at the time.
The state of Ohio requires liability insurance to protect other drivers in the event of an accident. The minimum limits are:
- $12,500 Per Person Bodily Injury
- $25,000 Per Accident Bodily Injury
- $7,500 Property Damage
While these limits are minimum they are rarely recommended levels of coverage. Ask your insurance agent what they recommend based on your financial position.
In Ohio you may get your license suspended for one of the following reasons:
- 12 points on driving record within a two year period
- 6 month suspension
- Child support order is in default or person failed to comply with warrant
- Indefinite suspension until in compliance
- First Offense OVI or DUI – operating a vehicle over the legal limit of alcohol concentration or drug abuse
- Suspension determined by court
- Habitual OVI offender – convicted 3 or more times within the preceding 3 year period
- Court ordered and must complete treatment/rehab program