If you are a Colorado driver who does not own a vehicle, you are required to obtain Colorado non owner SR22 insurance for license reinstatement. Colorado non owner SR22 is high risk insurance required by the state that you will carry for a certain period of time, depending on the circumstances of your license suspension. If you are required to carry Colorado non owner SR22 insurance and are caught driving without it, you will again face suspension of your license.
Colorado non owner SR22 insurance is not written on a vehicle; it is liability-only coverage, written to cover you while driving a borrowed vehicle; it does not include comprehensive or collision coverage. Non owner SR22 insurance serves as secondary insurance on any non-owned vehicle you drive on occasion. In the event of an at-fault accident, it pays any claims that exceed the vehicle owner’s primary auto insurance coverage. Colorado non owner SR22 insurance is not valid coverage for rental vehicles, commercial vehicles, vehicles driven frequently or vehicles that are part of your household. Colorado non owner SR22 insurance needs to be maintained for a period of one to three years. During this time your insurance provider monitors the policy to make sure that it does not lapse, expire or cancel. If it does, your insurance provider must contact the Colorado DMV through a SR26 filing, notifying them that you are no longer insured. As a result the Colorado DMV will suspend your license again.
If you purchase a vehicle while covered by Colorado non owner SR22 insurance, the policy can be easily switched to an SR22 owner-operator policy. All you need to do is give your insurance agent the vehicle information, and the vehicle can be endorsed to the policy. In most cases the premium will increase when a policy is changed from a non owner to an owner-operator policy. The amount of increase depends on the type of vehicle, year make and model.
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