SR22 Colorado

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SR22 Colorado

Last updated on February 15th, 2020 by

SR22 Colorado is a certificate of financial responsibility issued and filed by an insurance company licensed in South Carolina. The certificate is required for license reinstatement. When you own a vehicle, it is endorsed to your auto insurance policy. It is monitored during your license suspension period to ensure that you keep it in force.

Certain traffic offenses and violations of Colorado DUI laws can result in suspension of your driver’s license. To reinstate your license, you’ll have to file an SR22 Colorado certificate with the DMV. After your driver’s license has been suspended, many questions may come to mind.

Why do I need SR22 Colorado?

The term SR22 stands for “safety responsibility”. The SR22 form is a financial responsibility document. It is a guarantee of future liability insurance coverage for a specific time. To be precise, SR22 insurance Colorado is evidence that you possess liability insurance.

The most common reason drivers purchase SR22 Colorado high-risk insurance is to reinstate their license after a suspension or revocation. Your license can be suspended for the reasons below, among others:

  • An alcohol-related conviction
  • Excessive points from traffic violations
  • Unpaid traffic tickets, including parking tickets
  • Unpaid child support
  • Operating a vehicle without insurance
  • A legal judgment or court order

Do I need an SR22 if I already have auto insurance?

Yes. If the state of Colorado requires you to have SR22 insurance, the certificate must be endorsed to your existing auto insurance policy. If you own a vehicle, the SR22 certificate is attached to your auto insurance policy (this is SR22 owner’s insurance). However, not all insurance companies are capable of completing an SR22 filing.

What if I don’t own a car?

Even people who don’t own a vehicle still have a driver’s license. When you drive a non-owned vehicle, your license can still be suspended. You’ll then have to get Colorado non-owner SR22 insurance to reinstate your driving privileges. If you don’t own a car, the certificate is endorsed to a non-owner insurance policy (SR22 non-owner insurance). Filing a non-owner SR22 certificate proves that you are insured when you drive a non-owned vehicle.

How long do I need to carry high-risk insurance?

You’ll be required to keep this insurance in force for 3-5 years, depending on the seriousness of the offense. If you miss even one payment, your insurance provider must file an SR26 form with the Colorado DMV. This cancels your policy and results in license suspension until you file another certificate. If your SR22 Colorado certificate was filed through one insurance provider and you change to a different company, the new provider must file a new certificate before the original policy expires. There cannot be any lapse of coverage between the policies.

How much will I have to pay for SR22 Colorado?

When insurers provide an SR22 Colorado rate quote, they consider several factors, including:

  • Your driving record. This includes how many violations you’ve had during a certain time period, any at-fault accidents you’ve been involved in, and if you’ve had DUI or DWAI charges or convictions. In Colorado, the BAC for DWAI charges is between 0.05 and 0.07, and for DUI the BAC is over 0.08.
  • Where you live. For example, rates in highly populated areas like Denver, or high crime areas will have higher rates than rural areas or less populous cities like Littleton.
  • How many miles you drive. You’ll pay more if you drive frequently than if you rarely drive because the risk of being in an accident is lower.
  • The car you drive. Your premiums may be higher if you drive a car with a high-performance engine. Owners of these types of vehicles tend to be riskier drivers. And if you own an expensive vehicle, it costs much more to repair or replace.
  • Personal factors. Your credit score, occupation, age, and marital status are considerations. Good credit results in lower rates; bad credit results in higher rates. You may pay a higher rate if your job requires a lot of travel. If you’re under the age of 25, you’ll likely have a higher rate; people aged 50 to 65 usually have lower rates. Women and married people are considered a lower risk for accidents and other violations than men and single people.

Do I still need to keep SR22 Colorado if I move out of state?

If you move to another state and your Colorado requirement is still in effect, you’ll want to plan to maintain continuous coverage. First, find an insurance company that’s capable of doing a cross-state filing. This involves filing an SR22 certificate in the state where you’re moving and at the same time filing a new certificate in Colorado. Both policies should overlap a few days to avoid a lapse in coverage. The insurance company that submits the filings must be licensed in both states, and not all companies can do this. UltraCar Insurance is licensed in 34 states and can handle most of these cases.

Can I get a broad form policy in Colorado?

Yes. An SR22 can be endorsed on a Broad Form Insurance policy. A Broad Form policy will cover you when driving any non-owned vehicle on an occasional basis, the same as a non-owner’s policy does. But unlike a non-owner policy, it will provide liability coverage on any vehicle(s) you own, as long as you are the only driver. In other words, Broad Form coverage does not extend to anyone else, so there is no coverage if someone else drives your car(s). Broad Form insurance is usually more expensive than non-owner insurance. However, Broad Form insurance is not offered in every state, or by every company.

Minimum liability coverage

Colorado’s minimum liability coverage requirements are listed below. Additional or higher coverage can be purchased if desired.

  • $25,000 maximum bodily injury per person paid by the policy
  • $50,000 total the policy pays for bodily injury to all persons *
  • $15,000 total amount the policy pays for property damage

* If there are several persons injured, those who file a claim first receive payment until a total of $50,000 is reached. After $50,000 in payments have been made, any other Injured persons would have to pursue other legal recourse from the policyholder.

UltraCar Insurance offers competitive SR22 Colorado insurance quotes and expert advice about owner and non-owner SR22 policies. Our agents are licensed in Colorado and will provide a quick filing to satisfy your requirements. Call us, or click to start a quote today!


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