If you have a driving-related offense, the state will require you to carry high-risk auto insurance in Oregon. It requires attaching an SR-22 insurance certificate to an auto or non-owner insurance policy to reinstate your license. For this, you’ll need to choose an insurance provider specializing in high-risk auto insurance. UltraCar Insurance will find an affordable auto or non-owner SR-22 insurance rate and file your certificate with the Oregon DMV.
If you need this insurance after a DUI conviction, the minimum liability insurance requirements increase, which increases the cost of your SR-22 policy. To determine the most affordable rate for you that satisfies state requirements, we compare rates from top-rated insurance companies in Oregon. We’ll also file your SR-22 certificate on the same day.
Please read on to learn more about how to get high-risk auto insurance in Oregon. We’ll explain everything you need to get affordable SR-22 insurance. Let’s start with what SR-22 insurance is.
What is SR-22 Insurance Anyway?
The Oregon SR-22 certificate is a form your insurance provider files with the DMV. It certifies that your insurance policy meets Oregon’s minimum liability coverage requirements. It also guarantees that you will retain the insurance policy tied to it for a specific time. If your insurance coverage lapses before that period ends, the insurance company notifies the DMV, and your license gets suspended immediately.
Standard Oregon SR22 insurance must meet the following minimum liability coverage requirements per accident.
- $25,000 bodily injuries per person
- $50,000 for all bodily injuries per accident
- $20,000 at-fault property damage
- $250 personal injury protection deductible
If you need an SR-22 filing and don’t own a vehicle, you must carry non-owner SR22 insurance in Oregon that satisfies the above minimum coverage requirements.
The minimum coverage requirements per accident for SR-22 insurance due to a DUI conviction are higher for both owner and non-owner SR-22 insurance:
- $50,000 bodily injury coverage per person
- $100,000 bodily injury coverage for all injuries in an accident
- $25,000 property damage coverage
- $50,000 / $100,000 uninsured/underinsured motorist bodily injury
- $250 personal injury protection deductible
Let’s learn what other factors make these policies expensive before we explain how to get the cheapest SR-22 insurance in Oregon.
Why High-Risk SR-22 Insurance Policies are Costly in Oregon
Insurance companies work using the law of large numbers. Insurance underwriters estimate the probability (or risk) of different incidents to calculate the cost of insuring a driver. For example, an underwriter may use accident statistics of an average driver to calculate the expected amount the insurance company will have to spend after insuring an individual.
In the case of SR-22 insurance, they calculate the risk of accidents where you’re at fault. Then, they weigh the probabilities with the average liabilities the company will have to pay. The companies then have an estimate of how much they’ll spend per year on an average driver.
Minimum liability coverage requirements are the same for all non-high-risk drivers in Oregon. However, people who need SR-22 insurance have a higher risk of accidents, at least from the perspective of insurance companies. Higher risk increases the expected yearly costs for the company. In other words, they think they’ll be more likely to have to pay your liabilities. Your insurance costs increase accordingly – but that’s not all.
Insurance companies specializing in SR-22 insurance have more data to work with, so they can calculate risk more accurately. They can offer lower rates than preferred car insurance companies without risking loss. Let’s see how to get insurance policies from such companies.
How to Get Cheap SR22 Oregon Auto Insurance
Suppose you need an SR-22 certificate to get your driver’s license back. In that case, you must keep your insurance policy in good standing to keep your license. You’ll have to pay insurance premiums for three years on average. That’s 36 months! Even a slightly better insurance policy will save you a lot in the long run.
Cost is one of many factors to consider when buying SR-22 insurance. Insurance companies that file SR-22 forms must offer you an insurance policy that meets minimum liability coverage requirements. But if you want the cheapest SR-22 rate with a proper filing, you should only trust insurance companies specializing in SR-22 insurance.
Many providers offer standard insurance policies that fulfill the state’s minimum coverage requirements. Some of these providers may write you an Oregon SR22 insurance policy. But the best way to get the cheapest SR-22 insurance in Oregon is to compare quotes from high-risk auto insurance providers in Oregon. And that is what we do at UltraCar Insurance.
We use our knowledge from over a decade of experience to identify the best rate and policy suited to your case. Ready to find inexpensive high-risk auto insurance in Oregon? Call us today or start an online quote.
We look forward to helping you get back on the road!
This article was last updated on November 15th, 2023 by UltraCar Insurance
