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Tips for Keeping Your SR-22 Insurance Rates Low

Premium-taxationWhen a state agency determines that you need to file an SR-22 form through your insurance company, it means that you’ll need SR-22 insurance coverage until you are eligible for a reinstatement of your driver’s license and driving privileges. You already know that this insurance will cost more than regular coverage, but how can you keep your monthly payments down?

Consider an Older, Used Car

Generally speaking, the monthly premiums for newer cars will cost more because the repair expenses are higher for these vehicles. One way to keep your SR-22 insurance policy costs down is to drive an older model car and consider not carrying comprehensive coverage to cut down the rates.

If you don’t have an old car, it may be a good idea to invest in one and drive that until your SR-22 status expires, which takes about three years on average, and you are able to file for regular car insurance again. Check with your insurance carrier first to find out if there are significant savings by doing this.

Drive Only To and From Work

In some cases, insurance carriers will lower your rates if you keep your driving activities to a minimum, like only driving to and from work or driving on a very restricted schedule. This reduces your chances of getting into an accident. Ask your agent or broker about this.

Liability Insurance

If your car is an older model and you are not particularly worried or concerned about minor damage to it, you may want to opt for liability insurance.

Liability coverage means the insurance policy will pay the other party for accident costs resulting from damage to property and bodily injury to those involved in the collision if you are at fault. There are minimum coverage requirements that vary from state to state that you will have to meet. Check with your agent to find out what these are.

Drive Carefully

During your SR-22 status, it pays, literally, to drive safely and carefully. Any accidents that you are at fault for will raise your car insurance rates. The extra precaution and care you take will pay off in the long run by keeping your insurance premiums stable.

Shop Around

Your present insurance agent may have handled your car insurance in the past, but this doesn’t necessarily mean that you’ll be receiving good rates for SR-22 insurance.

Try to get a good scope of the land by shopping around for different rates. This can be done by visiting various registered online SR-22 insurance companies and comparing their costs.

Look for full service SR-22 insurance companies that will not only provide you with a good selection of qualified insurance carriers, but that will also walk you through the steps of applying for SR-22 insurance, assist you in filling out and submitting forms, and answer your questions in a friendly and professional manner.

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