Broad Form Vehicle Insurance

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Broad Form Vehicle Insurance

In several states there is a cheaper option for auto insurance.

In some states, you can buy Broad Form vehicle insurance. This type of insurance covers one policyholder only, and you can purchase it whether you own a vehicle or not. Broad Form insurance is a cheaper way to file an SR22 certificate, but it has severe limitations. If you don’t own a car, the policy covers you when you drive a borrowed vehicle. If you own a car, it covers you when driving any vehicle you own.

You can purchase Broad Form vehicle insurance in several states to file an SR22 certificate for license reinstatement. Broad Form insurance covers a single policyholder rather than insuring a particular vehicle. People usually purchase this kind of policy as non-owner SR22 insurance without a car. Your state of residence and an insurance company’s underwriting determine whether you can buy this type of insurance as a non-owner or auto owner’s policy.

Broad Form vehicle insurance has strict limitations

When you need SR22 insurance, a Broad Form policy can be tempting because of its low cost. But you need to know some facts to avoid the possibility of severe financial repercussions.

  • Broad Form insurance covers ONLY you when driving a car you own or one you borrow with the owner’s permission.
  • It does not provide coverage for anyone else to drive your vehicle. You cannot let anyone else drive your car for any reason.
  • Coverage does not apply if you drive a motor home or motorcycle or when driving for business purposes.
  • It does not cover damage to any vehicles you own or borrow to drive or company cars you operate.
  • This type of policy provides liability-only coverage. It does not include comprehensive, collision, or uninsured/underinsured motorist coverage.

What’s the best kind of SR22 policy if I own a car?

To avoid a rate increase on your current auto policy, you can purchase Broad Form SR22 insurance as a non-owner policy. This keeps the SR22 separate from your present auto insurance. If your insurance company can’t add an SR22 to your current auto policy, a Broad Form or regular non-owner SR22 policy may be a suitable alternative.

Which states offer Broad Form vehicle insurance?

UltraCar Insurance writes Broad Form policies in the states listed below. This insurance can be written as a stand-alone policy or with an SR22 endorsement.

Insurance regulations vary from state to state. Talk with an experienced UltraCar Insurance agent to determine if Broad Form vehicle insurance is a good choice for you.

This article was last updated on May 9th, 2024 by