Many car drivers today might be wondering, is it possible to get an insurance policy without actually owning a vehicle? Yes. A Non-Owners SR-22 Insurance policy enables you to apply for an insurance policy, for as long as you have a valid driver’s license. Especially when you regularly drive around town, it’ll be a valuable option, as it covers you in case of any liability against you.
That said, it’s safe to say that the Non-Owners SR-22 Insurance is one of the lesser-known insurance policies you can apply. If you’re interested to learn more about this insurance policy, you’ve come to the right place. This article discusses everything that you need to know about Non-Owners SR-22 Insurance.
How To Apply For A Non-Owners SR-22 Insurance?
When you wish to apply for a Non-Owners SR-22 Insurance policy, you should seek the help of an expert agency that has already handled high-risk car accident insurance policy. Yes, there are forms that you can find and download online. However, as this policy will now be obligatory, implying regular payments, you’ll require assurance that your money is going in reliable hands.
As you meet with the insurance provider, don’t skip through any critical details. Be sure to meet the following requisites:
- You don’t require an ignition interlock breath device.
- You don’t own a vehicle.
- There aren’t other accessible vehicles in your household, even if they don’t belong to you.
Requirement Of An SR-22 Certificate Of Financial Responsibility
Some states, such as California, will require you to have an SR22 California Certificate of Financial Responsibility.
When this is asked from you, then all the more that you have that need to have a Non-Owners SR-22 Insurance Policy.
The instances when Non-Owners SR-22 Insurance Policy may be required include:
- Reinstating or reapplication of your driver’s license after its revocation.
- Failure to carry any liability insurance on a vehicle that you’re driving.
- Needing to apply for a probationary permit in case of suspension of your license.
- Facing a conviction for driving without any insurance.
- Being labeled as a habitual traffic offender.
The Cost Of A Non-Owners SR-22 Insurance Policy
A Non-Owner Car Insurance Policy will cost the applicant an average of USD$500 annually. This rate is according to the details found on the website Insurance.com, through its expert analysts.
While this may seem like a pricey amount, it’s cheaper than the car insurance policy’s average cost. The reason behind the cost is that Non-Owners SR-22 Insurance policyholders are generally considered non-risky individuals. It’s because they don’t own and drive a vehicle regularly.
However, there are also general factors that can affect the price of your insurance, and these would include:
- Your location
- Your desired amount of insurance liability cover
- Your driving records and accident history.
If your driving records and accident history is terrible, you could be considered a high-risk applicant. Some of the common instances that can put you in this situation may include:
- Driving without an insurance policy.
- Getting charged with a DUI conviction.
- Multiple and repeated traffic offenses within a short span.
A Word Of Caution
It’s also important to remember that you should never let your coverage lapse. When your Non-Owners Insurance Policy expires and has an attached SR-22 to it, this could place you in serious trouble with the law. The insurance carrier will notify the state. Henceforth, your license will be at risk of revocation.
When this happens, you have to start from scratch by applying for a probationary SR-22 license.
What A Non-Owners SR-22 Insurance Policy Covers?
Many states require even the non-owners to have a car insurance policy, with an attached SR-22 cover, to verify financial responsibility. It’s to assure the government that you can pay for the liability you may incur if you’ve damaged any property or injured a person while driving. This fact is valid, even when the car isn’t yours.
This insurance policy is secondary only to the owners’ existing insurance policy that you’re driving. It also covers both damage to property and bodily injuries.
With all the information you’ve gathered above, it’s safe to say that you’re better and more informed about a Non-Owners SR-22 Car Insurance Policy. As all your questions about the insurance policy might have now been answered, you can also move forward with applying for one. As odd as it may sound, it’s still prudent for you to apply for an insurance policy, even when you don’t regularly drive a car. That way, should any accident come along, your insurance will cover for the liability you may incur.