An SR-22 is not insurance itself but a certificate your insurer files to prove you have sufficient car insurance coverage. Drivers who need one often face higher premiums because they are considered high-risk.
However, these elevated costs are not permanent. If you’re unfamiliar with how SR-22 insurance works, this guide will explore practical strategies for how to lower SR-22 insurance costs over time.
Maintain a Clean Driving Record
Insurers treat traffic violations and accidents as warning signs of risky behavior. If you drive safely and avoid issues like speeding tickets or DUIs, you prove that you’re a lower risk, which can lead to cheaper premiums over time. Take a defensive driving course to strengthen your case and potentially earn extra discounts.
Understanding how SR22 insurance works helps explain why your record matters so much. Since SR22 filings are usually required after serious driving offenses, insurers see these drivers as higher risk.
Pay Your Premiums on Time
Missing payments can cause your policy to lapse, which may lead to cancellation and significant penalties. In some states, a policy lapse can even restart your mandatory SR-22 filing period from the beginning. Setting up automatic payments or calendar reminders is a simple way to ensure you stay compliant, avoid extra fees, and maintain continuous coverage.
Re-Evaluate Your Coverage Annually
Insurance rates can change, and your driving profile improves with each year of safe driving. It is wise to shop around and request quotes from different providers annually. You might find that another insurer offers a more competitive rate for your improved record. When speaking with providers, ask about available discounts, such as those for bundling multiple policies or for maintaining a clean driving record.
Consider a Non-Owner SR-22 Policy
If you do not own a vehicle but are still required to maintain an SR-22, a non-owner policy may be your best option. This type of coverage is typically cheaper because it does not insure a specific car. It is an ideal fit if you only borrow or rent vehicles occasionally but need to fulfill your legal filing obligations. This is an effective way to stay insured without the higher cost of a standard owner policy.
Improve Your Credit Score
Many insurance companies use a credit-based insurance score to help determine premium rates. A higher credit score can classify you as a lower risk, potentially reducing your insurance costs.
You can improve your credit by paying all your bills on time, keeping credit card balances low, and regularly monitoring your credit report for errors. These financial habits contribute to a better overall risk profile. Following this advice is the best way to lower SR-22 insurance costs over time.
Your Path to More Affordable SR-22 Rates
An SR-22 requirement does not mean you are stuck with high insurance rates forever. By driving safely, paying your premiums on time, reviewing your policy annually, choosing the right coverage, and improving your credit, you can actively reduce your costs. These proactive steps demonstrate responsibility and can lead to more affordable premiums long before your filing period ends.
