If you were told you have to carry SR22 insurance, you may be confused about what that means and where you can even find that kind of insurance. The good news is that many insurance companies that sell auto insurance also sell SR22 insurance in St Louis MO. An insurance broker can help you find a policy that meets the state’s requirements at an affordable rate.
You have to carry a special insurance policy because you are a high risk and the state wants to be sure you are covered at all times. Offenses that can lead the courts to require SR22 coverage include driving under the influence of drugs or alcohol and driving without minimum insurance coverage. With an SR22, your insurance company will inform the state if your insurance lapses for any length of time. Because keeping insurance is likely a condition of your sentence, your driver’s license may be suspended if you fail to pay your premiums. If you are required to carry high-risk insurance because you were caught driving uninsured, an SR22 can help you develop good habits that will protect your future finances.
In some cases, a person with a suspended driver’s license can get limited driving privileges if they submit an application and an SR22. The form shows that you are carrying minimum automobile insurance coverage. If your coverage levels drop or you stop paying your premiums, you will lose your limited driving privileges. Insurers are required by law to inform the state when their SR22 customers’ policies are canceled or lapse. There is no penalty for having more than minimum levels of insurance. In fact, carrying more coverage than the state requires may actually save you money if you are involved in an accident where one or more people are injured or there is significant property damage.
Some drivers are required to carry sr22 insurance in St Louis MO for two years while others have to have high-risk coverage for a period of three years. Because premiums are generally higher for this kind of coverage, it is important to work with a knowledgeable broker or agent who can get you the lowest possible rate.
