Explained briefly, SR22 is the name of the form which is used by car insurance companies to prove someone is compliment with the minimum limits of liability required.
SR22 form is filed by your car insurance company to the Florida’s Bureau of Financial Responsibility, when of course you are required to submit such evidence of liability insurance. ]
Driving under the influence, suspension for too many points, driving without insurance are some of the reasons why you may be required to have SR22.
Florida’s No Fault Law states that the minimum requirements for an auto insurance policy are Property Damage Liability (PDL) of $10,000 and Personal Injury Protection (PIP) of $10,000.
For SR22 Insurance, Bodily Injury Liability (BIL) is added on top of the minimum requirements. $10,000 per person and $20,000 per accident are the minimum BIL limits for SR22 in Florida. Combined single limit of liability, $30,000, will also be sufficient to fulfil this requirement.
The amount you will pay for Bodily Injury Liability will be the same regardless of the fact that you are required to file a SR22 form. A $15 filing fee is the only additional cost for you.
However, if you are required to file a SR22 form you will pay more for your car insurance. Its not because of the SR22 form, but rather because of the reasons you were required to have SR22 insurance – DUI, too many points on your license for traffic violations, driving without insurance.
If you do not comply with the law, your driver’s license and or vehicle license plate will be suspended. If this happens, in addition to the filling fee, reinstatement fees will apply.
For more useful information about SR22 Insurance check out: www.sr22insurancequotesonline.com
