No Car SR22 insurance Colorado, or non-owner SR22 insurance, is a high-risk insurance policy. “No Car” insurance is a means to reinstate your driver’s license if you don’t own a vehicle. You’ll need to buy a non-owner insurance policy with an SR22 rider (a financial responsibility certificate). Then, a licensed insurance provider files the certificate with the Colorado DMV, and the state will restore your driving privileges.
Driving a vehicle involves more than just getting to your destination, and it can be unpredictable. For this reason, Colorado auto insurance laws require every driver to carry minimum liability insurance to cover injury and property damage claims if they cause an accident. In all 50 states, driving a car without having proper insurance coverage leads to license revocation.
SR22 is a guarantee of financial responsibility
Colorado wants every driver to take financial responsibility for their actions when driving a vehicle. Generally, people who don’t own a car don’t carry insurance to drive a car owned by someone else. That’s because a vehicle owner’s insurance covers anyone who drives their vehicle. However, when someone who doesn’t own a car needs to reinstate their license, they will have to carry insurance for a specific time.
So, how is having No Car SR22 insurance Colorado considered a guarantee of financial responsibility? It’s because an insurance underwriter monitors any policy with an SR22 endorsement to verify that it remains paid and current. If your SR22 policy lapses, the state revokes your license again, which ostensibly prevents you from legally driving.
How long will you need to keep No Car SR22 insurance Colorado?
The terms and conditions of each person’s SR22 requirement vary depending on the circumstances leading to the mandate. In most cases, people need to keep Colorado non owner SR22 insurance for three years. In some cases, the state extends that time to five years.
Finding a reputable No Car SR22 insurance Colorado provider
There are many online high-risk insurance providers, so how can you find one that you can trust? See our article, Non owner SR22 insurance companies, for tips to find a legitimate, dependable provider.
The most crucial point is that the insurance company and its agents are licensed in Colorado to sell No Car SR22 insurance Colorado. Also important is to make sure the provider clearly explains the scope and limitations of non owner insurance coverage to you.
Broad Form Insurance
People who don’t own a vehicle have another non-owner SR22 option in Colorado called Broad Form SR22 Insurance. Discuss with your insurance agent if this would be a suitable policy for you. There are strict limitations of coverage with this type of insurance.
The Colorado DMV website has more details about the process to reinstate driving privilege.
UltraCar Insurance is an established provider of No Car SR22 insurance Colorado. We have the experience to easily guide you through obtaining non-owner insurance with or without an SR22 endorsement. Give us a call or click the quote button to get started!
This article was last updated on January 12th, 2022 by UltraCar Insurance