The world of insurance can be a really tricky one. There are so many things you have to be conversant with if you want to understand any insurance coverage you take. Even trickier is vehicle insurance. However, this all depends on how you want to look at it.
There are some simple rules that you have to follow to avoid the drama that comes with insurance compensation. Secondly, if you work with the wrong company you most definitely will have a problem with insurance.
There are so many types of insurance that are specifically meant for motorists. There is the very common third party insurance that will take care of the expenses that accrue as a result of the motorists fault. All vehicles are required to have this insurance cover. Driving without insurance is a felony and if you are caught then you can be sure that you will be introduced to bigger insurance terms.
Have you ever heard of the SR 22 insurance?
Some people have had the unfortunate luck of needing this type of insurance. It is not really an insurance cover per say but rather a Certificate of Financial Responsibility (CFR). It is a state-mandated certificate that is filed by your insurance carrier with the Department of Motor Vehicles in your state.
There are several scenarios that may necessitate the possession of an SR 22 form. Often, the SR 22 is required when a person involved in an accident or convicted for some traffic offense could not show proof of financial responsibility.
Driving around with insurance for your car is just but one of the many reasons why you would need the SR 22. Some of the other offenses that could force you to get the insurance include: driving with a revoked or suspended license, repeat traffic offenses or even having too many tickets within a short period of time.
Filing for the SR 22 insurance is relatively easy. All you have to do is get in touch with your insurer and you will be guided. There is a fee that you will have to pay.
This is usually in the bracket of $15 and $25. It all depends on the insurance company that you choose to work with.
Before filing for the SR 22 you will have to purchase a car insurance policy. In most states you will be required to keep the SR-22 for 3 years. During this period your car must be covered continuously. If coverage is discontinued the insurance company will have to contact the Department of Motor Vehicles and have your license revoked.