When you are required to obtain SR-22 coverage, you might find that the prices are higher than traditional insurance policies. If you are required to have SR-22 coverage, it is important that you understand what it is and how you can get the lowest rates possible. 

What Is an SR-22?

An SR-22 is required by the Department of Motor Vehicles (DMV) in special circumstances. Instead of providing proof that you have coverage to the DMV, your insurance provider has to submit it for you. Without the coverage, you could face fines and even lose the ability to drive. 

An SR-22 is usually required when you are considered to be a high risk driver. For instance, if you have been convicted of driving under the influence, you would most likely be required to get an SR-22. You could also be classified as high risk if you have numerous traffic citations or your license has been revoked and you have requested that the DMV reinstate it. 

Since you are considered a high risk driver, insurance companies tend to view you as costly to cover. As a result, the cost of an SR-22 is typically higher than the average policy.

How Can You Get a Lower Rate?

Although your premium will be higher than you are accustomed to paying, there are some tweaks you can make to your coverage to possibly lower your insurance rates. For instance, if you opt for a higher deductible, you can get lower rates. It is important to note that if you do get a higher deductible, you need to ensure you can cover the cost if your car is in an accident later. 

Another option is to avoid expensive cars. The SR-22 covers the value of your car. If you have an expensive car, the insurance company has a higher amount to cover. To compensate for it, your premiums will be higher. However, if you drive an older or less expensive car, you can lower your premium. 

In considering how to lower your SR-22 rate, you need to also focus on the future. Part of that is maintaining a good driving record. Although driving well might not have a significant impact on your insurance rates now, it can in the future. If you show a commitment to being a better driver over the next few years, you can score lower rates down the road. 

Consult with an insurance agent to find other ways that you can find the lowest rates possible for an SR-22 policy. Click here for info.