{"id":778,"date":"2022-06-03T18:52:06","date_gmt":"2022-06-03T18:52:06","guid":{"rendered":"https:\/\/www.sr22adviser.com\/guidance-and-tips\/?p=778"},"modified":"2022-06-03T18:52:08","modified_gmt":"2022-06-03T18:52:08","slug":"know-the-cost-from-filing-to-minimums","status":"publish","type":"post","link":"https:\/\/www.sr22adviser.com\/guidance-and-tips\/sr-22-tips\/know-the-cost-from-filing-to-minimums\/","title":{"rendered":"Know the Cost of an SR-22 Mandate: From Filing to Minimums\u00a0"},"content":{"rendered":"
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What if a single mistake ended up costing you thousands of dollars?<\/span>\u00a0<\/span><\/p>\n

Traffic accidents can already be expensive enough, especially when there is property damage and medical bills. However, a traffic mishap will continue to cost you plenty of extra money if you need to file <\/span>an SR-22<\/span><\/a> certificate due to a state mandate.<\/span>\u00a0<\/span><\/p>\n

The SR-22 will cause your insurance to increase, but how much will it go up? And what are the other hidden fees when it comes to filing the paperwork? Keep reading to discover the answers!<\/span>\u00a0<\/span><\/p>\n

What\u2019s the Cost to File an SR 22?<\/h2>\n

It generally costs $25 to file your SR-22 with the state, though the cost may be less or more depending on where you live. The only way to file your SR-22 is to do so through an insurance company that will charge you a nominal fee to file.<\/span>\u00a0<\/span><\/p>\n

The cost to file this paperwork is actually the cheapest aspect of the SR-22. That\u2019s because it is a one-time fee, and the costs are relatively low. Most drivers don\u2019t really feel the pain in their wallets until they see how much their insurance has increased.<\/span>\u00a0<\/span><\/p>\n

What is SR-22 Insurance?<\/h2>\n

The SR-22 is simply a form you file with your state that verifies you have met at least the minimum car insurance requirements. There is no such thing as separate \u201c<\/span>SR-22 insurance<\/span><\/a>.\u201d However, some drivers use this term to refer to the higher insurance they pay once the SR-22 is on file.<\/span>\u00a0<\/span><\/p>\n

This term is necessary because many insurance carriers refuse to insure drivers who are legally required to file an SR-22. Such drivers have usually received <\/span>a DUI<\/span><\/a> or DWI conviction. Therefore, some insurance carriers refuse to insure these risky drivers in the first place. Those who do offer insurance will do so at a much higher rate.<\/span>\u00a0<\/span><\/p>\n

How Much Will My Insurance Increase With an SR 22?<\/h2>\n

Depending on your insurance carrier and other factors, <\/span>your SR-22 car insurance may increase on average from $200 to $400 per month<\/span><\/a>. Just like with regular car insurance, other factors may drive your own personal insurance either higher or lower, including where you live and what type of vehicle you drive.<\/span>\u00a0<\/span><\/p>\n

Once the SR-22 is on file, your insurance carrier is going to pay special attention to your traffic record, and the severity of certain offenses may impact both how much your insurance increases and how long that increase lasts.<\/span>\u00a0<\/span><\/p>\n

Most drivers pay their insurance premium monthly. If you are unhappy with how much your insurance increases under your current carrier, you can always get quotes from other carriers until you find a more competitive rate.<\/span>\u00a0<\/span><\/p>\n

Will My Insurance Costs Ever Go Back Down with SR22?<\/h2>\n

After a certain amount of time (usually three years), <\/span>you can stop filing the SR-22<\/span><\/a> with your state. While this may lower your insurance, there is no guarantee the rate will go down.<\/span>\u00a0<\/span><\/p>\n

That is because insurance carriers make their own calculations about certain drivers’ risks. In the eyes of the law, you may no longer have to file an SR-22 after three years. But in the eyes of your insurance company, you may still be a risky prospect, especially if you were convicted of DUI or DWI.<\/span>\u00a0<\/span><\/p>\n

It\u2019s important to drive safely and responsibly to demonstrate to your insurance carrier that you are no longer a risk on the road. As we noted before, nothing keeps you from getting quotes from other insurance carriers in hopes of getting a better deal.<\/span>\u00a0<\/span><\/p>\n <\/div>\r\n <\/div>\r\n <\/div>\r\n<\/div>\n\n

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