SR-22 Insurance & Bonds in Ohio: How Much Do They Cost?

SR-22 Insurance & Bonds in Ohio: How Much Do They Cost?

Find Cheap SR-22 Auto Insurance Quotes in Ohio

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Ohio drivers that have had their licenses suspended, either due to significant moving violations or driving uninsured, may be required to file an SR-22 to reinstate their driving privileges. SR-22 forms can only be filed with the Ohio BMV by an insurer and cost about $20.

However, you'll first need to purchase either auto insurance or a financial responsibility bond that meets the state's requirements.

The cost of SR-22 insurance in Ohio is generally higher than the cost of standard auto insurance, as SR-22 filers have prior driving violations and are therefore higher risk for insurers.

Cost of SR-22 insurance in Ohio

The cost of an SR-22 filing in Ohio is quite low; insurers typically charge a one-time fee around $20 to file the document with the BMV. SR-22 insurance quotes, however, will often be much higher than quotes for a standard policy because of whatever incident caused you to need the SR-22 filing.

The rates charged by insurers can vary greatly. Among our sample insurance companies, the SR-22 rates varied by more than $1,000 per year.

This graph ranks OH SR-22 insurance quotes for 30-year-olds across varying insurers.

Find Cheap SR-22 Auto Insurance Quotes in Ohio

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The large discrepancy in SR-22 insurance rates across various companies supports why drivers should always shop around for multiple quotes.

Insurer
Annual average premium with SR-22 and DUI
Grange logo
Grange$686
State Farm logo
State Farm$732
Progressive logo
Progressive$786
Geico logo
Geico$948
Erie logo
Erie$1,080
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As an alternative to insurance, drivers in Ohio can attach an SR-22 filing onto a financial responsibility (FR) bond. These bonds are also purchased from insurers and are typically the cheapest way to meet an SR-22 requirement.

While you can meet an SR-22 requirement with an FR bond in Ohio, this coverage isn't designed for vehicle owners, and we recommend you consider insurance alternatives first.

Start by comparing SR-22 insurance quotes from multiple companies, as each insurer evaluates drivers differently and this is often the simplest way to find cheap, yet comprehensive, coverage.

What is an SR-22 in Ohio?

An SR-22 is also known as a certificate of financial responsibility. In Ohio, you may be required to file an SR-22 in order to reinstate your driving privileges after they've been suspended. This can occur if the state has determined you to be a high-risk driver. This might be after a DUI or multiple moving violations, or if you've been caught driving without proof of insurance.

The SR-22 filing can only be filed by an insurer and acts as proof to the Ohio BMV that you carry one of the following:

  • An owners auto insurance policy that meets the state's minimum liability requirements
  • A non-owners auto insurance policy that meets the state's minimum liability requirements
  • A financial responsibility bond

Once your SR-22 is on file, the BMV will send you a notice confirming this. Depending on the reason your license was suspended, Ohio may require you to file an SR-22 for either three or five years. Your insurer is required to notify the BMV if you have a lapse in insurance coverage during this period, in which case you'll lose your driving privileges again.

If you don't own a car or you move out of Ohio, you'll still be required to maintain an SR-22 in Ohio for the court-determined number of years.

Otherwise, you'll need to repurchase coverage and pay a reinstatement fee to the Ohio BMV to be able to continue driving.

Why would I need to file an SR-22 in Ohio?

You may need an SR-22 if the court thinks you're a higher-risk driver, and there are a few common reasons why you might need one.

DUI conviction

Drivers that have been convicted of a DUI or reckless driving or have otherwise accumulated at least 12 points on their driving records in the past two years may have their licenses suspended and be required to file an SR-22 in Ohio. You'd typically be notified of this judgment by the court, but you can also check your driving record online through the Ohio BMV to see the points on your record and whether your license is suspended.

Driving without insurance

Another common reason Ohio drivers may need to file an SR-22 is that they've been caught driving without insurance. Ohio's financial responsibility law requires all drivers to carry either auto insurance or another form showing financial responsibility. The intent of this law is to ensure that if you're at fault in an accident, you'll be able to pay for any resulting injuries and property damage.

If you are involved in a traffic stop or an accident and can't provide proof of auto insurance or financial responsibility, you may receive a non-compliance suspension and have to carry SR-22 insurance for three years.

What coverage do I need to get an SR-22?

Drivers who need an SR-22 have to meet the same minimum insurance requirements as other Ohio drivers:

  • $25,000 of bodily injury liability coverage per person injured in an accident
  • $50,000 of bodily injury liability coverage per accident
  • $25,000 of property damage liability coverage per accident

Alternatively, drivers can satisfy the financial responsibility requirement by posting a bond with the state, a surety company or an insurance company.

Purchasing SR-22 insurance is a simple way for vehicle owners to prove financial responsibility and reinstate their licenses. SR-22 insurance is a standard auto insurance policy that at least meets Ohio's minimum liability coverage requirements.

The only difference is that your insurer will also file an SR-22 form with the Ohio BMV showing evidence that your policy is in place. The form is filed electronically and is typically processed within three days, at which time you should be notified and able to drive legally again, once you've taken any other required actions.

Non-owner SR-22 insurance in Ohio

Non-owner SR-22 insurance, also called a named operator policy, is similar to any other SR-22 policy except that it's tied to a driver instead of a vehicle. So, if you need to file an SR-22 to legally drive again in Ohio but don't own a car, non-owner SR-22 insurance will satisfy the requirement and provide liability coverage for you when driving another person's vehicle.

Non-owner SR-22 policies are typically cheaper than standard policies since they only provide liability coverage, not coverage for damages to your own vehicle, and are usually needed by infrequent drivers.

Just note that if you do own a car, or you drive a particular vehicle regularly, you'll need to buy an owner's SR-22 policy. Otherwise, your insurer may not provide coverage if you're involved in an accident.

SR-22 bond in Ohio

As an alternative to insurance, drivers in Ohio can attach an SR-22 filing onto a financial responsibility (FR) bond. These bonds are also purchased from insurers and are typically the cheapest way to meet an SR-22 requirement.

SR-22 bond quotes may vary among insurers, so we recommend you compare rates from multiple companies. Purchasing SR-22 bond coverage is similar to purchasing a non-owner auto insurance policy that meets Ohio's minimum liability requirements.

The primary difference is that an FR bond offers you no alternatives or additions to the state minimum coverage.

For instance, if you wanted higher liability limits than the state-required $25,000/$50,000 bodily injury coverage and $25,000 property damage coverage, you wouldn't be able to add this to a bond. You would instead need to purchase a non-owner SR-22 insurance policy. Since an SR-22 bond only provides liability insurance, any injuries to you or damages to the vehicle you were driving would not be covered if you were at fault in an accident.

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