Why Are SR22 Insurance Rates So High?

Q: Why are SR22 insurance rates so high?

A: There are a lot of reasons for why insurance rates, period, are very high, but the main reason for  SR22 insurance being expensive is the risk. Car insurance companies rate consumers based on risk, be it risk of filing a claim or even risk of canceling. If you have SR22 insurance, then it’s likely that you have been convicted of drunk driving, so you’re already a big danger when it comes to the insurance company. You’re more likely to cause an accident, or so they are able to glean from your information, and so they’re likely to get both liability claims from a non-customer because of you, as well as your own collision and personal injury claims.

Another reason why your SR22 rates are so has nothing to do with you, but with the fact that you live in New York. New York has some of the highest insurance rates nationwide, and the main reason for this is fraud, which is enabled by the no fault system in place their. Car insurance fraud in New York is a billion dollar industry, and the more fraud there is, the more everybody else is punished for it. Somebody in New York commits fraud, and your e SR22 insurance rates go up.

Convicted of Drunk Driving? Need SR22 Insurance?

Q: I was convicted of drunk driving and the judge told me that after my license is suspended for the required time, I can get it back if I get SR22 insurance certificate. What is SR22 insurance?

A: Since you have your license suspended, you have to suffer more punishment than a simple few weeks suspension. In order to comply with the law, you will have to buy SR22 insurance for a total of three years before you are able to keep your license without it.

A SR22 certificate is proof of insurance. It’s a form that the car insurance company you buy your policy from will file with the DMV in your area every month. If the form is not filed during the three year period you are required to have SR22 insurance, then your insurance will be canceled and your license again suspended.

It’s sometimes difficult to find Schenctady SR22, so you’ll have to look a little harder. Since you are now part of a high risk group of drivers, it’s also very likely that you will have to pay a lot more in order to keep yourself insured. If you don’t want to have to file SR22 insurance, then you can avoid it by simply allowing your license to remain suspended for three years–but then you won’t be able to drive.