If you live in Indiana and are convicted of a serious traffic violation, such as hit-and-run or DUI, the Indiana Bureau of Motor Vehicles may require you to file for SR-22 insurance. While it may sound like it’s a type of insurance coverage, SR-22 is a certificate that proves you have the minimum automobile insurance coverage required by the state.
SR, or safety responsibility, insurance is also known as a certificate of financial responsibility. SR-22 insurance is required to reinstate your driving privileges after your driver’s license has been suspended or revoked. Your automobile insurance company will file an SR-22 form with the Indiana Bureau of Motor Vehicles on your behalf to prove you have sufficient coverage.
What Is SR-22 Insurance in Indiana?
Image via Flickr by free pictures of money
SR-22 insurance in Indiana is a certificate issued by the Indiana Bureau of Motor Vehicles that verifies that you have automobile insurance coverage that meets the minimum requirements set by state law. If you are requested to file SR-22 insurance, you’ll be required to maintain it for three years after a first or second suspension and five years for suspensions after that. If you cancel or fail to renew your SR-22 insurance, the automobile insurance company is required by law to provide a report to the Indiana Bureau of Motor Vehicles, resulting in immediate suspension of your driver’s license.
Indiana requires drivers from other states to maintain their SR-22 insurance when driving in Indiana. If you move from Indiana, you may have to hold your SR-22 insurance in the state you move to and would have to check with the DMV in that state.
Who Is Considered an At-Risk Driver in Indiana?
After committing one of the following serious traffic offenses, you might be labeled an at-risk driver by the state of Indiana:
- Severe traffic violations, such as DUI or hit-and-run
- Multiple traffic violations, such as speeding or failure to yield
- Driving without insurance multiple times
- Causing an at-fault accident without sufficient minimal insurance requirements
- Failure to pay for damages caused in an at-fault accident
- Non-payment of child support
- Excessive evasion of tolls
- Cancellation or non-renewal of an earlier SR-22, resulting in a lapse in coverage
How Do You Get SR-22 Insurance in Indiana?
When purchasing SR-22 insurance in Indiana, the process is very similar to obtaining standard automobile insurance. You may need to shop around for SR-22 insurance coverage because not all automobile insurance providers offer this service.
Your current automobile insurance company may have canceled your policy upon learning of your driver’s license suspension or revocation, so you’ll want to find out whether you currently have insurance coverage. If you still have insurance coverage, it may be possible to add SR-22 insurance to your current policy if your insurance company provides this service.
Adding SR-22 insurance can be done online, in person, or on the phone, and the process is relatively straightforward. To obtain SR-22 insurance, you need to do the following:
Apply/Add SR-22 Insurance to Your Policy
Talk to your automobile insurance agent to determine whether SR-22 insurance can be added to your current policy. If not, you’ll need to find a provider that offers SR-22 insurance. Complete the application process and submit it to the insurance provider.
Pay Associated Fees
Filing SR-22 insurance will typically require a flat fee of approximately $50, which will be paid to your insurance provider.
File the SR-22 Insurance Form With the State
The SR-22 insurance form must be filed through an insurance provider. The state of Indiana doesn’t allow you to file this form on your own. The entire filing process may take up to 30 days, and you may not drive until you receive confirmation.
The Indiana Bureau of Motor Vehicles will approve your SR-22 insurance filing and reinstate your license. You can drive once you receive this confirmation, as long as you continue maintaining your SR-22 insurance for three or five years as required.
How Much Is SR-22 Insurance in Indiana?
Beyond the filing fee of up to $50, the cost of SR-22 is in your insurance premiums. Because the state of Indiana has deemed you an at-risk driver, you can expect to see an increase in your insurance premiums. Finding cost-effective insurance coverage with an SR-22 insurance requirement can be difficult. You can expect to pay an average of 11% higher premiums with an SR-22 insurance requirement in Indiana.
In Indiana, a driver with an SR-22 insurance requirement on a minimum policy would pay an average of $597 per year. Compare that to a driver with a clean record who pays $409 per year, and you can see where the expense of having SR-22 insurance falls.
What Are the Minimum Automobile Insurance Coverages Required in Indiana?
An SR-22 insurance filing proves that you have the minimum automobile insurance coverage required by law in Indiana. Those coverage requirements are currently:
- Bodily injury liability coverage of $25,000 per person and $50,000 per accident
- Property damage liability of $25,000 per accident
Liability insurance covers the costs for an injured person and damage to their property or public property in an at-fault accident. Liability insurance does not cover any damage to your vehicle or your property.
What Is Non-Owner SR-22 Insurance in Indiana?
Even if you don’t own a vehicle, you can be required to file for SR-22 insurance in the state of Indiana. Non-owner SR-22 insurance covers you when you borrow a vehicle from a friend or neighbor. It would also cover you when using a family member’s car as long as that family member is not a part of your household. Non-owner SR-22 insurance doesn’t cover you when driving a car of someone you live with, such as a spouse or roommate. Non-owner coverage also doesn’t cover vehicles driven for business or work purposes or rental cars.
SR-22 insurance requirements can make finding automobile insurance coverage more difficult and expensive. You may need to find a new insurance provider or learn to work within a tight budget to carry SR-22 insurance. If you’re required to add SR-22 insurance, be prepared to invest some time and effort into finding the best price.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.