When I got my kids a dog, I had no idea that it could affect my homeowners insurance. I happened to run into my insurance agent in the store when I was buying dog food and he asked me what kind of dog we had. When I told him, he said I should stop in the office the next day. I had no idea that things like this could affect premiums, so I started asking what else could do it as well. I created this site to help others understand some of the finer points of homeowners insurance and what they should think about to manage their rates.
If you ever experience a DUI charge, or anything similar, you will probably face an SR22 insurance requirement. This requirement means that you must purchase a unique auto insurance plan for a specific time if you want to keep your driver's license. While this is a standard requirement after a DUI, many people do not understand what SR22 is. Here are three common misconceptions people have about SR22 insurance coverage.
It Is Insurance Coverage
The most common misconception about SR22 is that it is insurance coverage. SR22 is not actually insurance coverage itself. You cannot get SR22 without purchasing auto insurance, but it is not an insurance product. Instead, it is a form that you receive from your insurance company that proves your insurance coverage. Therefore, you do not really buy an SR22 insurance policy. Instead, you buy an auto insurance policy that provides an SR22 form.
You Do Not Need It If You Do Not Own a Car
The second misconception people have with SR22 coverage is that you do not need it if you are not a car owner. In other words, if you currently do not own a vehicle but need SR22, you do not have to buy an auto policy that provides it. While it might not make sense to buy car insurance if you do not own a car, the truth is that you still need it if you do not own a car.
You can purchase two types of SR22 policies. The first type is a traditional auto insurance policy that insures a specific vehicle. The second type is non-owners car insurance, which is the kind of insurance that protects drivers without vehicles. If you have non-owners insurance, your policy protects you if you borrow a car. Having non-owners insurance also provides a way to meet the three-year requirement that comes with SR22 insurance.
You Need It for Three Years Total
The third misconception is that you need SR22 insurance for three years total. If you have a policy for one year now and allow it to lapse, you will only need to buy a policy for two more years. While most people need it for three years, there is a rule that you must follow. The three years must be three consecutive years. You cannot have any lapses in your coverage. If you do, your period starts over when you buy a new policy.
If you have questions about car insurance coverage, you can contact an agent that offers SR22 policies.
Share12 August 2020
