Non-Owner Auto Insurance For SR-22 Holders: What You Need To Know
Posted on: 29 November 2017
In the aftermath of a DUI or DWI conviction, most states require you to carry an SR-22 "Certificate Of Financial Responsibility" as a part of your auto insurance policy for a limited amount of time. Even if you don't own your own car, you'll still need to have this form of proof on file in order to have your driver's license successfully reinstated.
This is where non-owner SR-22 auto insurance comes into play. Read on to find out how you can use this type of auto insurance to satisfy SR-22 requirements without having a vehicle of your own.
How Does It Differ From a Standard Non-Owner Policy?
Keep in mind that an SR-22 is not an insurance policy in its own right, but a document certifying that you're an insured driver with an active policy featuring the correct minimum liability coverage. Other than that, there's very little difference between a typical non-owner auto insurance policy and one with a SR-22 on file.
The only factor that usually distinguishes non-owner SR-22 auto insurance policies is the rate amount. Having an SR-22 on file with your insurer can cause your annual premiums to skyrocket. Unless you do some serious shopping around, you'd be hard-pressed to find cheaper coverage with an active SR-22.
What Does It Cover?
Non-owner SR-22 auto insurance covers much of the same ground as a standard non-owner auto insurance policy. This insurance provides liability coverage for those who currently don't own their own vehicle but instead borrow vehicles from other insured drivers on a regular basis.
In short, this policy covers the other party's injuries and damages in the event of an accident. However, it won't cover damages caused to the vehicle you're currently driving. Those damages are typically covered by the vehicle owner's own insurance policy unless the other party is found at fault.
As an SR-22 driver, having a non-owner policy also keeps you out of legal hot water, especially if you get into an accident while borrowing someone else's car. However, this applies only as long as the vehicle you're driving is properly insured by the actual owner. If the vehicle lacks insurance and becomes involved in an accident or traffic stop, this could cause your driver license to be suspended, along with the vehicle owner's license in some cases.
Who's Eligible and Who's Not?
In essence, any person who's required to file an SR-22 but lacks their own vehicle to insure is eligible for non-owner SR-22 auto insurance. It's only when you decide to purchase your own vehicle that you're usually required to purchase a standard auto insurance policy.
However, there are circumstances where you may not be able to obtain non-driver auto insurance coverage. If the court requires you to use an ignition interlock device to legally maintain your driving privileges, then you won't be able to benefit from a non-driver policy. The court may place other conditions that severely impact your ability to borrow other people's cars, therefore making a non-driver auto insurance policy unnecessary.
How Long Do You Need It?
How long you need to carry a SR-22 on your non-owner auto insurance policy usually depends on your state's statutes. The vast majority of states require at least three consecutive years of auto insurance coverage with a SR-22 on file before things go back to normal. Multiple DUI/DWI convictions can double or even triple the amount of time needed to fulfill the requirements of your SR-22.
After successfully fulfilling those requirements, however, you can keep your non-owner auto insurance policy as long as you like provided that you don't own your own vehicle. As mentioned before, you'll need to step up to a regular auto insurance policy if you decide to purchase your own vehicle. For more information, contact companies like Able Insurance Agency.
Share