In 2019, approximately 10.9 percent of all drivers didn’t have auto insurance.
People who drive without it face risks, though, if they get caught. One risk is being required to have SR-22 insurance.
You might need SR-22 insurance for this reason or a different reason, but you might not think you need it if you don’t own a vehicle. The truth is that you still should buy a plan.
Insurance companies call this a non-owner SR-22 insurance plan, and you can buy one in Illinois if this is where you live. Here are some details to know about buying this type of auto insurance plan.
The Basics of SR-22 Insurance
A non-owner SR-22 insurance Illinois is just one of two main types of SR-22 insurance plans you can purchase. This type of policy works well for a person who doesn’t own a car, while the other type is for people with cars.
Before you can understand the differences, you might want the basics of SR-22 insurance plans.
The Bureau of Motor Vehicles (BMV) is the entity that controls driving privileges. They tell people when they can get licenses, and they are responsible for revoking or suspending privileges to drivers.
If you need SR-22 insurance, the BMV will notify you. When you find out that you need it, you’ll also have a deadline. If you don’t have the policy before the deadline, you’ll probably lose your driving privileges.
SR-22 insurance is a type of insurance plan that offers two things.
First, it’s car insurance that includes coverage that meets the state minimum requirements or more. Secondly, it requires the insurance company to send a letter to the BMV to prove that you have auto insurance coverage.
When you buy a plan, the insurance company assumes the responsibility of monitoring your policy and letting the BMV know that you have it. They also notify them if you lose your coverage.
The Main Reason You Need It
There are several reasons that people end up needing SR-22 insurance. The main reason is from a driving violation. You might need one from one major driving violation, such as a DUI or DWI, or from many smaller violations.
Suppose you get multiple speeding tickets and tickets for driving without auto insurance. If you get too many of these driving violations, you might need SR-22 insurance.
The purpose of SR-22 insurance is to protect other drivers. After a DUI or many smaller violations, you become a risk to other drivers on the roads. To protect these other drivers, the BMV might require SR-22 insurance.
When the BMV requires this, it protects other drivers by allowing you to drive only if you have a current auto insurance plan. If you don’t have a current plan, you won’t have a driver’s license.
If you don’t own a car, you can start looking for non-owner SR-22 insurance companies that offer non-owner SR-22. Many insurance companies don’t offer SR-22 coverage for people with or without cars, but some do.
You’ll need to call around to find a company that offers a plan if you want to get coverage before the deadline.
How a Non-Owner SR-22 Insurance Plan Works
A typical SR-22 insurance plan works by providing auto insurance to the person named on the policy. The policy covers that person and the vehicle they list on the policy.
You can choose from a minimum-coverage policy only or other options. Some people choose full-coverage insurance with their SR-22 insurance plans, but it depends on the situation.
There are others that don’t have vehicles but need SR-22 insurance. Do you fall into this category? If so, don’t assume you don’t need SR-22 insurance because you do.
A non-owner SR-22 policy provides the coverage you need when you need SR-22 insurance but don’t own a vehicle.
If you don’t own a vehicle, you can tell the insurance company that you need SR-22 insurance coverage without insuring a vehicle. An insurance company will recommend buying a non-owner plan.
So, what does a non-owner plan offer? The main purpose of getting a non-owner plan is to meet the state requirements for having SR-22 insurance coverage.
When the BMV requires you to buy it, they will institute a timeframe, which is usually three years. This requirement states that you must have an SR-22 policy for three consecutive years, regardless of if you own a car or not.
If you wait until you buy a car to buy a plan, your three years begins when you start your policy. If you buy the plan now, you can start working on your three-year requirement now.
Requirements for Getting a Non-Owner Plan
Now that you understand what this coverage is, you might want to start calling around for non-owner SR-22 insurance quotes. You might be wondering, “how much is a non-owner SR-22 insurance plan?”
The answer is that it varies. You will likely pay less for your plan if you don’t own a car.
The good news is that you’ll have auto insurance coverage with a non-owner plan if you borrow a car from a friend or relative. There are several requirements for buying a non-owner plan, though.
The first requirement is that you can’t own a car. If you own one, you can’t buy a non-owner policy.
Secondly, you can’t buy a non-owner policy if you live with people that have cars you could potentially drive.
Finally, an insurance company won’t sell you a non-owner plan if the state requires that you have an ignition interlock device in the vehicle you drive. If you need one of these, you’ll have to buy a regular SR-22 plan.
How to Buy a Policy
Buying a non-owner SR-22 insurance policy is a wise move if you need SR-22 coverage. You can get quotes from several companies if you’re interested in finding out the costs.
To learn more, contact us at Insured ASAP. We offer non-owner SR-22 policies in Illinois, and we’d love to give you a quote for coverage.