In some states you can purchase broad form vehicle insurance as a way to file an SR22 insurance certificate for license reinstatement. Like non owner insurance, broad form insurance is written to cover a single policyholder, rather than insuring a particular vehicle. In almost all cases, individuals who purchase non owner SR22 insurance do not own a vehicle. In some states you can get a non owner SR22 insurance policy even if you own a vehicle. This type of policy is called broad form insurance, or named operator insurance. It depends on your state of residence and an insurance company’s underwriting whether you can purchase broad form vehicle insurance as an owner or non owner policy.
It can be tempting to purchase broad form insurance because it’s an inexpensive way to obtain auto liability insurance or SR22 insurance. If you’re considering purchasing broad form insurance or broad form SR22 insurance, it’s important to be aware of some facts about this type of policy in order to avoid severe financial repercussions.
Broad form vehicle insurance has some serious limitations:
- It covers ONLY you, the policyholder, when driving an owned vehicle or a vehicle borrowed with the owner’s permission.
- It does not provide any coverage if anyone other than you drives your vehicle, so you must never let anyone else drive your car for any reason.
- Broad form insurance does not cover you while operating a motor home or motorcycle, or when driving for business purposes.
- Broad form insurance does not cover damage to any vehicles you own or borrow, or for any company cars you operate.
- It is liability only coverage; it does not include comprehensive or collision coverage, nor uninsured/under insured motorist coverage.
If you own a vehicle insured by a preferred insurance company and want to avoid a rate increase that would occur by adding an SR22 endorsement, you can purchase broad form SR22 insurance as a non owner policy to keep it separate from your current insurance. You may also find that many preferred companies cannot endorse an SR22 to your current car insurance policy. In this case, filing a broad form non owner SR22 certificate may be a suitable alternative.
UltraCar Insurance offers broad form vehicle insurance in these states:
Broad form insurance can be written as a stand alone policy or with an SR22 endorsement. Insurance regulations vary from state to state, so talk with an experienced UltraCar Insurance agent to find out if broad form vehicle insurance will meet your insurance needs.