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SR22 Insurance in Colorado

A Colorado SR22 form is required after a person’s license has been suspended or revoked. You may ask “Who needs SR22 insurance?” if you have received other traffic violations that did not result in a suspended driver’s license. A driver may also need to purchase an sr22 form in CO if he or she is charged with driving under the influence, driving while intoxicated, for those who have repeated violations and those with a high number of points on their driving record due to excessive tickets. Therefore, SR-22 rates can be rather costly since driver’s who are required to have SR22 insurance are labeled as high-risk. You must start looking for SR22 insurance quotes if the Colorado Division of Motor Vehicles (DMV) has informed you that you are required to have one. This should come as no surprise to you since the DMV will most likely contact you after you are charged with high-risk behavior on the road.

What is SR22 insurance?

An SR22 is actually a certificate proving a driver has the basic liability insurance coverage required by the state. Essentially, it is a way for your insurance company to vouch for your coverage. The SR22 form in CO also certifies you will continue to remain covered until you are no longer required to possess it. Think of SR22 insurance as a proof of insurance rather than actual coverage. Typically, SR22s are required for a three-year period, although in some cases the state will require you to have it for five years. For example, you may have to hold an SR22 for a three-year period if you were uninsured and involved in a serious accident. However, if you were charged with driving under the influence (DUI), then you might be required to have an SR22 for five years if you were also involved in an accident that resulted in bodily harm.

What are the penalties for not having an SR22?

As mentioned above, Colorado SR22 insurance must be purchased as soon as you are contacted by the DMV. Furthermore, your SR22 form must be filed with the state by your insurance company. If you fail to purchase SR22 insurance or lapse on your policy, then the DMV will be notified and your three-year period will start over. Even if you almost completed your SR22 period when your insurance policy lapses, you will still have to begin your three years all over again. As soon as the DMV is notified of your lapsed SR22 insurance policy, your driver’s license will be suspended immediately.

Basically, not having the SR22 form is costly and will result in even more of a long, drawn-out hassle. First, if you are supposed to keep an SR22 on file, your insurance premium will rise even higher if you let it lapse. Second, you will have to pay the fees and fines associated with having your driver’s license suspended, which you most likely had to pay for before you were mandated to obtain the SR22 policy.

How much does it cost to get an SR22?

SR-22 rates are actually highly affordable and average at about $25 to add to your insurance policy. However, SR22 insurance comes with additional expenses to your insurance policy that are much more costly. Your automobile insurance rates will increase because you are considered a high-risk driver, which means you will be paying a few hundred dollars extra for coverage. Furthermore, to acquire an SR22 through your insurance company, you might be required to pay your full premium up front, which means paying hundreds of dollars all at once instead of getting the relief of monthly payments.

How to Get SR22 Insurance

Get SR22 insurance by first consulting with your automobile insurance company. You must obtain SR22 insurance through a legitimate car insurance company for it to be authenticated with the DMV, otherwise you risk defaulting on your three-year period. The SR22 will simply be added to your policy if you already have car insurance. If you do not currently have car insurance, then you should purchase your SR22 and insurance together.

Once you have completed your required term for the SR22 certificate, you can easily ask your insurance company to remove it from your policy.