Financial Responsibility Filing and Your Auto Insurance

Usually auto insurance is pretty cut and dry. Your age, marital status and past driving history are all considered when getting an insurance quote. You provide basic information like name, address, and VIN number, then “Viola!” you have coverage. However, if you had a recent DUI, DWI or were in an accident with no insurance, you’ll be required to provide more than just the basics. Depending on your state the form may have a name like SR-22 or FR-44 but is known as a Financial Responsibility Filing form.

Why Is A Financial Responsibility Filing Required?

If you were in an accident and had no auto insurance, you’ll be required to prove to the state that you are maintaining a proper policy. You’ll also need this form if you have had a DUI, DWI, been charged with reckless driving or are considered a high-risk driver.

What is an SR-22?

An SR-22 is a certificate of financial responsibility that verifies the insured is carrying the state-mandated amount of car insurance. This is a guarantee from the insurance company to the state that you are maintaining coverage and can be financially responsible for accidents. Your insurance company will let the state know if you do not maintain the coverage.

Where To Get A Financial Responsibility Filing

If you need an SR-22 and your carrier does not offer it, you can opt to buy an SR-22 non-owner policy from a second party. The policy with your main carrier is your primary policy and the second party would be able to secure a Financial Responsibility Filing with the state.

Providing this extra documentation can seem like a hassle, but the Department of Motor Vehicle needs this supporting documentation as a safety measure. This assurance will assist with maintaining your ability to keep a valid driver’s license in your state. The good news is you won’t be required to carry this document forever. If you can maintain a good driving record and continuously carry the appropriate amount of auto insurance coverage, your good standings will be returned, and you’ll no longer be required to have the Financial Responsibility Filing.