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SR-22 Insurance Cost

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SR22 insurance can cost three to five times more than the average figures if your driver's license has been suspended or revoked. While the cost of getting the SR22 certificate is insignificant (in the range of $25 or less), the actual premiums you will have to pay depend on the seriousness of the offense and the risk you currently pose to the insurer.

There is no blanket answer for how much SR22 costs, as it depends on a myriad of factors. A 19 year old driver with a DUI conviction might or might not pay more than a 40 year old one with the same conviction. Even though teenage drivers are typically billed more, it could be that the elder driver has a more expensive car, a sloppy driving history, more than one car or more drivers on the same policy. Let us have a look at the criteria that affect the cost of SR22 insurance.

  • Your age. As outlined above, statistics show that young drivers are more prone to getting involved in accidents, so insurers will bill them more. The prices go down as you approach 40 and tend to go back up once you are in your late fifties.
  • The car you are driving. It goes without saying that the more expensive the car is, the more it will cost to insure it. But factors like top speed and 0-60mph time are taken into account as well, so a sports car will be more expensive to insure than a limousine in the same price range.
  • Your driving record. This factor is quite self-explanatory. A driver with a spotless record will pay less than one who files a claim every other month. Taking a defensive driving course might make you score better. The seriousness of the offense that lead to the SR22 requirement is also to be taken into account – DUI’s are considered more serious than getting many speeding tickets in a short period of time.
  • The coverage you need. The cost of your SR22 insurance will be proportional to the amount of coverage you need. A 300/600/100 liability policy will be much more expensive than a 25/50/10 one.

These are the main criteria that the underwriter will take into account when computing the cost of your SR22 coverage. There are a few tricks you can use to lower the costs.

  • Don't get more coverage than you need. If you drive an old car, you can probably drop comprehensive or collision policies and only get the bare minimum.
  • Don't let the policy lapse. If you miss the payments, the insurer has to notify the DMV and they will suspend your license. Your three-year SR22 requirement will be reset.
  • Shop around. Since prices for regular coverage differ from one insurer to another, you can only imagine how much money you can save from shopping around. Don't close a deal with the first insurer you run into!

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