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How SR22 insurance costs are determined

A variety of factors determine each person's SR22 insurance costs. Start a quote now or call to get your lowest rate.

How SR22 insurance costs are determined

Last updated on February 19th, 2020 by

Determining someone’s SR22 insurance costs involves factors that vary from person to person. Therefore, insurance providers can’t quote a single “lowest” SR22 insurance rate for everyone. Insurance underwriters consider each person’s years of driving experience, credit history, place of residence, age, and driving record in determining their SR22 rate.

SR22 insurance costs are generally higher than standard auto insurance because SR22 insurance is considered high risk insurance. People with a record of motor vehicle violations will have higher SR22 insurance rates. Drivers with repeat or severe traffic offenses have a higher chance of committing additional infractions. Therefore, insurance companies charge higher rates to limit the risk of insuring them.

How much will I pay for SR22 insurance?

Even with standard auto insurance, everyone’s insurance requirements vary; therefore, so will their insurance rates. SR22 insurance costs take those same requirements into account. But when violations like driving without insurance, repeated tickets or accidents, or DUI / DWI convictions are part of your driving record, it’s almost certain to increase your rate.
When the state requires you to carry SR22 insurance, your premiums will likely be higher than it is for standard auto insurance. And you’ll have to pay those higher rates for at least three years. As a general comparison:

  • After license suspension for exceeding points (multiple traffic tickets), your SR22 rate will be about twice as much as standard insurance.
  • After a DUI conviction, your SR22 insurance costs may be several times higher than for standard insurance.

How to reduce your SR22 insurance costs

Depending on your state and your insurance company, you may be able to reduce your SR22 rate after a while by maintaining a clean driving record. In some states, keeping a clean driving record may allow your insurer to have the SR22 requirement removed, thus reducing your premiums. Other ways to reduce your SR22 insurance costs at the start:

  • Set a higher deductible.
  • Drive an older vehicle rather than a new model.
  • If you don’t own a car, non-owner SR22 insurance is less expensive in general than SR22 insurance tied to a vehicle.
  • If you start with a non-owner SR22, you can add a car later. But before you buy, find out what your rate will be. It could significantly higher, depending on the year and model, and whether you want full or liability-only coverage.

More about SR22 insurance costs

See the following articles related to lowering your cost for SR22 insurance:

Whatever your situation, UltraCar Insurance agents can help keep your SR22 insurance costs as low as possible by offering policies and competitive rates from top insurance providers. Click to start a quote now, or call for a no-obligation SR22 insurance quote!

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