Illinois SR22 Insurance: A Quick Guide on Requirements and Cost
SR22 insurance, often known as a certificate of financial responsibility, differs from typical insurance. In Illinois, it’s a specific document required by the Department of Motor Vehicles (DMV) for high-risk insurance cases.
This certificate serves as proof that the driver has the minimum necessary liability insurance as mandated by the state. It’s essentially a way for the DMV to ensure that high-risk drivers are adequately insured, providing protection for both the driver and other road users.
What are SR22 insurance Illinois requirements?
In Illinois, drivers who are required to possess an SR 22 certificate must ensure they have sufficient insurance coverage for both bodily injury and property damage. The state’s legal requirements specify the following minimum limits:
- $25,000 for one individual’s bodily injury or death.
- $50,000 for bodily injury or death to multiple individuals in a single accident.
- $20,000 for damage to another person’s property.
It’s of utmost importance to maintain continuous coverage while the SR22 certificate is in effect. Any lapse in coverage can lead to additional penalties and legal consequences.
Which companies offer Illinois SR-22 insurance?
Numerous car insurance providers in Illinois offer the SR-22 certificate. Some of the prominent ones include
- Geico
- State Farm
- Progressive
- Mercury
- Erie
- American Family
How much is SR22 insurance in Illinois?
Individuals who have a DUI on their record can expect to pay an average annual cost of $646 for minimum coverage and $1,475 for full coverage SR-22 insurance in Illinois. It’s important to note that some driving offenses, including minor ones like speeding or at-fault accidents, may require you to file an SR-22, which can lead to an increase in your car insurance premium.
How long do you need SR 22 insurance in Illinois?
Typically, the state of Illinois mandates drivers to maintain their SR 22 insurance for a three-year period. However, the exact duration can vary based on the nature of the violation. It’s crucial to maintain continuous coverage during this period; any lapse can reset the clock, requiring the driver to start the three-year period anew.
What is Non-Owner SR22 insurance in Illinois?
If you don’t own a car but need an SR-22, you can get non-owner SR-22 insurance. This type of insurance covers you when you drive a vehicle that doesn’t belong to you. This non-owner policy is a good option for people who don’t drive often but want to keep their driver’s license in good standing.
How much is the cost of non-owner SR22 insurance Illinois?
Typically, the average cost of non-owner SR22 insurance in Illinois hovers in the range of $25 to $30 per month, a figure that falls below the national monthly average of $43. However, it’s vital to bear in mind that the cost of auto insurance is subject to fluctuation based on your geographical location, age, preferred coverage level, your driving history, and the specific type of vehicle you choose to drive.
What is the alternative for Illinois SR 22 insurance?
In Illinois, individuals who perceive SR22 insurance as an onerous obligation have an alternative at their disposal – the Safety Responsibility Law of Illinois.
This alternative permits motorists to furnish either a cash deposit or a security bond with the Department of Motor Vehicles, an amount equivalent to the mandated minimum liability coverage thresholds.
This option can prove advantageous for those who seek an alternative to traditional SR22 insurance within the state of Illinois.
How to get SR22 in Illinois?
If you are required to have an SR22 certificate in Illinois. You will need to take a few important steps.
- Select an insurance company: Choose an insurance provider that offers SR 22 coverage. Not all insurance companies provide SR 22 insurance, so be sure to inquire and get quotes from those that do.
- Purchase the required coverage: Work with the insurance company to purchase the necessary coverage to meet the state’s SR22 requirements. The coverage must meet or exceed the minimum liability insurance limits mandated by Illinois law.
- Complete the SR22 filing: Your chosen insurance company will handle the paperwork for you. They will submit the SR 22 form to the Illinois Secretary of State’s office on your behalf. There is usually a small filing fee associated with this process.
- Receive your SR22 certificate: Once the Secretary of State’s office processes the SR22 filing, you will receive a copy of your SR22 certificate. Make sure to keep this certificate and provide it as proof of insurance when required.
It’s important to note that SR 22 insurance requirements are typically temporary, and maintaining continuous coverage while following the state’s guidelines will eventually allow you to return to standard insurance rates. Staying informed about the SR22 process and fulfilling your obligations is crucial during this period.
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Editorial Guidelines: The above is meant as general information to help you understand the different aspects of auto insurance. This information does not refer to any specific auto insurance policy. Coverages and other features vary between insurers, vary by state, and are not available in all states. References to costs of coverages/repair, average or typical premiums, amounts of losses, deductibles, etc., are indicative and may not apply to your situation. We encourage you to speak to our insurance representative and to read your policy contract to fully understand your coverages.
Randy Luton is the Founder and CEO of RateForce. He is passionate about InsurTech services and has in-depth knowledge about the auto insurance sector of the USA.
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