SR22 insurance is a specific type of auto insurance required for drivers who have been deemed high-risk due to various violations, such as DUIs or multiple traffic offenses. In Illinois, this insurance serves as proof of financial responsibility, ensuring that drivers maintain the state’s minimum liability coverage. The costs associated with SR22 insurance can vary significantly based on individual circumstances and the insurance provider chosen.
| Coverage Type | Average Monthly Cost |
|---|---|
| Minimum Coverage | $67 |
| Full Coverage | $149 |
The average cost of SR22 insurance in Illinois is generally higher than standard auto insurance due to the increased risk associated with the drivers who require it. This article will explore the factors influencing SR22 insurance rates, the average costs, and tips for finding affordable options.
Understanding SR22 Insurance
SR22 is not an actual insurance policy but rather a certificate that your insurance company files with the Illinois Secretary of State. This document verifies that you have the minimum required liability coverage, which in Illinois includes:
- $25,000 for bodily injury or death per person
- $50,000 for bodily injury or death per accident
- $20,000 for property damage
It is essential to maintain continuous coverage during the required period, which is typically three years. Any lapse in coverage can result in additional penalties and potentially extend the duration of your SR22 requirement.
The need for SR22 insurance arises from serious driving violations. Common reasons include:
- DUI/DWI convictions
- Driving without insurance
- Multiple moving violations
- Reckless driving incidents
Average Costs of SR22 Insurance in Illinois
The cost of SR22 insurance in Illinois can vary based on several factors, including your driving history, age, and the type of coverage you choose. Here are some average costs:
- The average monthly premium for minimum coverage is approximately $67, leading to an annual cost of about $802.
- For full coverage, the average monthly premium rises to around $149, resulting in an annual cost of about $1,791.
These figures represent a significant increase compared to standard auto insurance rates. For instance, drivers with clean records typically pay around $479 annually for minimum coverage.
Factors Influencing Costs
Several factors influence how much you will pay for SR22 insurance in Illinois:
- Driving Record: A history of violations will lead to higher premiums.
- Age and Gender: Younger drivers and male drivers often face higher rates.
- Location: Urban areas may have higher rates due to increased risk factors.
- Type of Vehicle: More expensive or high-performance vehicles typically incur higher premiums.
Finding Affordable SR22 Insurance
Despite the higher costs associated with SR22 insurance, there are ways to find more affordable options:
- Shop Around: Different insurers offer varying rates. It’s crucial to compare quotes from multiple providers to find the best deal.
- Consider Non-Owner Policies: If you do not own a vehicle but still need an SR22, non-owner policies can be significantly cheaper.
- Increase Your Deductible: Opting for a higher deductible can lower your monthly premium. However, ensure you can afford the deductible if you need to file a claim.
- Look for Discounts: Many insurers offer discounts for safe driving records or bundling multiple policies (like home and auto).
- Maintain Good Credit: A better credit score can help reduce your premiums since insurers often consider credit history when determining rates.
Common Providers and Their Rates
Several insurers are known for providing competitive rates on SR22 insurance in Illinois. Here’s a brief overview:
| Insurance Company | Average Monthly Cost |
|---|---|
| Mercury | $38 |
| State Farm | $87 |
| Farmers | $114 |
| Progressive | $129 |
| Travelers | $138 |
Mercury stands out as one of the most affordable options for minimum coverage SR22 insurance at about $38 per month, while State Farm offers competitive pricing for those needing full coverage.
The Filing Process for SR22 Insurance
To obtain SR22 insurance in Illinois, follow these steps:
1. Contact Your Insurer: Ensure your current insurer can provide an SR22 certificate. Not all companies offer this service.
2. Purchase Required Coverage: You must have at least the minimum liability coverage mandated by Illinois law.
3. File the SR22 Certificate: Your insurer will file the SR22 form directly with the Secretary of State on your behalf. This process may take up to 30 days.
4. Maintain Continuous Coverage: It’s crucial to keep your policy active throughout the required period; otherwise, you risk license suspension.
5. Monitor Your Status: Keep track of your compliance status and ensure no lapses occur during your three-year obligation.
Consequences of Lapse in Coverage
Failing to maintain continuous SR22 coverage can lead to severe consequences:
- Your driver’s license may be suspended.
- You may be required to restart your three-year obligation if there is a lapse.
- Additional penalties may apply depending on your specific situation.
It’s vital to stay informed about your status and ensure that your insurer reports any changes promptly.
FAQs About How Much Is Sr22 Insurance In Illinois
- What is SR22 insurance?
SR22 insurance is a certificate proving that a driver has met state-required minimum liability coverage. - How much does SR22 insurance cost in Illinois?
The average monthly cost ranges from $67 for minimum coverage to $149 for full coverage. - How long do I need to maintain SR22 insurance?
You typically need to maintain it for three years. - Can I get non-owner SR22 insurance?
Yes, non-owner policies are available and often cheaper if you don’t own a vehicle. - What happens if I let my SR22 lapse?
Your driver’s license may be suspended, and you might have to restart your three-year requirement.
In conclusion, while SR22 insurance can be costly due to its association with high-risk driving behaviors, understanding how it works and actively seeking out competitive quotes can help mitigate these expenses. By maintaining good driving habits and keeping track of your policy status, you can navigate this challenging situation effectively.