SR22 Financial Responsibility
Reader’s Question:
A friend of mine needs help in reinstating his driver’s license here in Wisconsin and he told me that he probably has to pay higher car insurance premium from now on? What does he have to do to reinstate his license and also to get cheaper car insurance?
Mark
Green Bay, WI
If your friend has been charged and found guilty of a major traffic violation in Wisconsin, he has to obtain SR22 financial responsibility so he can have his driver’s license reinstated. This is also called an SR22 insurance and it is a type of certification from a car insurer issued to the state’s department of motor vehicles. This will be a proof that he maintains car insurance coverage and thus he can drive around despite his high risk driving record. Obtaining car insurance with SR22 may not be that easy because it is more expensive than the usual car insurance policy and only certain car insurers offer it. If your friend wants to have a worry-free access to shopping and purchasing SR22 insurance, he must find a good SR22 insurance firm that gives cheaper SR22 insurance rates.
Your friend’s current insurer may not give him SR22 insurance even if he keeps multiple policies with them. Also, compared to other traditional forms of car insurance, SR22 financial responsibility is a lot more expensive, so your friend will run into some difficulties bagging car insurance with SR22.
The best way for him to get SR22 insurance is to go to any SR22 insurance firm. This type of insurance company usually extends cheaper SR22 insurance rates to high risk drivers. It is advisable that he does the search online because it is convenient to do so. He can visit SR22 insurance websites and browse, compare, and purchase the most affordable SR22 insurance for him.
SR22 Form
Reader’s Question:
What situations will require filing of the SR22 form?
Jimmy
Detroit, MI
There are various situations where you will be required to file an SR22 form. The SR22 form is also known as the Certificate of Financial Responsibility (CFR). This SR22 form is filed by the insurance company with the MI Department of Motor Vehicles (DMV) to confirm that a particular policyholder indeed has a current vehicle liability insurance coverage. In most cases, filing of the SR22 form will be needed if an individual fails to present any proof of financial responsibility following a car accident where he was found to be at fault or after getting pulled over for suspicion of driving while impaired. In situations where an individual’s driving privileges are suspended or revoked, the SR22 form has to be filed by his insurer to facilitate the reinstatement of the driver’s license. The other instance that would require the SR22 form is when an individual chooses to maintain non owner vehicle liability insurance. This is a very popular choice among those who do not own and maintain their own vehicles but frequently drive rented or borrowed ones. This SR22 form will be a certificate of self insurance issued by the DMV and should contain the name of the car owner.