Should You Work With An Insurance Agent That Specializes In SR22 Coverage?
There's a good chance that cost is weighing heavily on your mind if you just received a court order to obtain SR22 insurance. While an SR22 is technically about proving financial responsibility and continuous insurance coverage, it often signals insurers that you're a higher-risk driver. As a result, many larger insurance companies will increase your premiums, sometimes by a substantial amount.
Paying more to stay on the road can make a tough situation even more challenging, so you're probably looking for ways to minimize these costs. Working with an insurance agent who specializes in SR22 coverage is one option, but is it worth taking this approach? The answer will depend on several factors unique to your situation.
Evaluating Your Current Insurer
It's critical to remember that SR22 is a specific government form and not a type of insurance coverage. Your insurer will need to file an SR22 on your behalf, indicating to the state that you are maintaining the required levels of minimum coverage. Note that this doesn't happen automatically, and you shouldn't resume driving until you know your insurer has completed the filing process.
In fact, contacting your insurer is one of the first things you should do once you know that you'll need SR22. Some insurers may not cover drivers with this requirement, so you'll need to ensure your current provider isn't dropping your coverage. You'll also want to ask about how your premiums will change before committing to a new policy.
Shopping Around for a Better Deal
Even if your current insurer doesn't plan to drop your coverage, you should still consider shopping around for a better deal. Rates can vary for drivers with an SR22 requirement, so you may find that an insurer whose premiums were previously too high is now more competitive. It's a good idea to make a few calls since online quotes may not accurately reflect rates for your risk group.
When shopping around, use the same strategies you would typically use when shopping for coverage. An SR22 requirement doesn't increase your minimum coverage amounts, so you can still adjust your policy limits to save some money. Reducing your coverage is often an excellent option for keeping premiums under control during your required filing period.
Working with a Professional
There's no requirement that you work with an agent specializing in SR22 insurance, and any insurance company can file the form. However, you may find that rates are unreasonably high or unaffordable for your situation. Instead of accepting this hit to your budget, it's often worthwhile to contact an agent that's familiar with the challenges you're facing.
Insurance agencies that focus on SR22 clients work with a network of insurers that provide coverage for people in your situation. By obtaining coverage from these companies instead of the larger, more well-known names, you'll often be able to get quality insurance coverage without paying excessively high monthly premiums.
For more information about SR22 insurance, contact an agency near you.