When Do You Need Non-Owner SR-22 Insurance?
According to studies, nearly 13% of United States drivers drive without auto insurance. Driving without valid insurance is not only illegal but will also subject you to severe consequences in the event of an accident. A third-party insurance coverage is a must-have for every car owner to avoid the financial burden of compensating injured passengers. After an accident, the victims are usually required to get an SR-22 form from their insurance agency. For those without a car, you should know that applying for non owners insurance is usually a simple and fast process. Continue reading this article to know when non-owner SR-22 insurance is a necessity.
In this era, a majority of auto insurance companies provide insurance policies for people who don’t own a car. This is according to the state requirement regarding high-risk drivers. This type of insurance is most used by people who do not own a car. As a non-owner, you need to have this type of insurance since it is required by the law to carry insurance. Besides, if you have rented or borrowed a car, you need to have non owners insurance. Since you are regarded as a high-risk driver, you are likely to pay more for SR-22 insurance. Even so, with this type of insurance, you will not have to worry about getting into more trouble with the law.
What are the reasons for having non owners SR-22 Insurance? You should know that are many reasons for having SR-22 insurance. First and foremost, a non owners insurance is a must-have is you received a citation for driving without insurance. Also, if you have been charged with a DUI or you have been convicted for driving without insurance. This page highlights more scenarios where one needs to apply for non owners SR-22 insurance. In your efforts to reinstate your driver’s license, you need to have a non owners insurance.
Non owners insurance is usually less expensive as compared to traditional auto insurance. Nonetheless, if you have an SR-22, you will end up paying more for non owners insurance. Averagely, you will pay around 240$ per month if you have an SR-22. The penalty for using expired insurance or defaulting in payment is the suspension of the driver’s license. You should not be scared by the huge cost, as you can cut by adopting certain strategies. You can compare the rates of different insurance providers so that you can reduce this cost. Establish if you can afford to pay the premiums before committing to a non owners insurance policy.
From the above discussion, you now understand why it is imperative to have non owners insurance.