What are Ohio DUI and SR-22 Insurance?

You may be wondering: What are Ohio DUI and SR-22 insurance? The short answer is mandatory coverage for drivers convicted of DUI or DWI. It is also known as a certificate of financial responsibility. This law intends to ensure that drivers can pay for any damages caused by their negligence. But why are you required to have this coverage? Here are some reasons. Let us discuss these two forms of insurance.

First, you will have to purchase insurance. If you have a DUI or OVI, you must pay higher rates for car insurance. In Ohio, drivers with one OVI conviction pay $1,381 for car insurance on average. This is about 63 percent higher than drivers without an OVI. However, this can vary from company to company. So, it would help if you shopped for a non-owner policy that provides liability coverage.

Another option is an FR bond. You file this bond through your auto insurance provider. This form looks similar to the SR-22 form but comes with restrictions. You only need liability insurance if you were in an accident, so if you borrowed a car, this type of policy isn’t suitable for you. But, if you’re convicted of DUI or DWI in Ohio, this bond will satisfy your SR-22 insurance requirements. The FR bond is considered the cheapest way to fulfill your SR-22 insurance requirement, but it has a few limitations. The main drawback of an FR bond is that it does not offer you the option to add comprehensive or collision coverage.

An SR-22 certificate is filed with the state by the insurance company after you have been convicted of a DUI or DWI. This certificate will last for a period of three to five years. If you fail to renew your SR-22 in time, your license will be revoked, and you will have to purchase a new policy. This is not an easy task, so you must shop around and find a company that suits your needs.

Getting a DUI or DWI will affect your driving privileges and increase your insurance rates. You will still have to deal with the repercussions even after your license has been suspended. In addition to obtaining new permission, you’ll also have to pay SR-22 fees to your insurance company. But despite the inconvenience, this payment is worth it if you have a clean driving record.

SR-22 insurance costs will vary from provider to provider, but you should expect a filing fee of fifteen to twenty-five dollars. Your highest cost will probably be the higher premiums. Remember, most insurance providers now consider you a high-risk driver, and they’ll charge more for such policies. Therefore, it’s essential to shop around before purchasing an SR-22 policy. So, what are you waiting for?