Budget Concerns: How Much Insurance is Enough?

Why You Need SR22 Insurance Even If You Do Not Own A Car

7 March 2016

Dustin Duncan

SR22 insurance is a requirement for many high-risk drivers, and it is available from most car insurance companies. If you are told that you need this coverage and do not own a car, you may wonder if it is really necessary to buy a policy. The answer is yes; you must still purchase the coverage if you do not own a car. Here are two important things to know about this. 

Nonowner's SR22 coverage is what you will need

There are two main types of SR22 coverage. One is for drivers who own cars, and the other is for drivers that do not own a car. The type designed for a person that does not own a car is called nonowner's insurance. When you call an insurance company for the coverage, make sure you tell them that you do not own a vehicle.

When you purchase this type of insurance, you will have insurance protection if you borrow someone's car. The coverage will pay for any damage you may cause to another party; however, it does not provide coverage for the car you are driving if you cause an accident. The person that owns the car you borrow should have his or her own insurance policy, which might then cover damage you may cause to the car.

You need it to complete the requirement

The second important reason you will still need to purchase SR22 insurance if you do not own a car is simply to complete the requirement. When you are told you must get SR22 coverage, you will lose your driver's license if you fail to get it. The only way the DMV will allow you to keep the privilege of driving is if you follow this requirement.

In addition, before you can ever get the SR22 insurance requirement dropped, you will have to complete the full length of the term you are instructed to follow. In most cases, this term will last for three years. It does not matter if you own a car or do not own a car, and it does not matter if you never drive during this time. You will still need to get the SR22 coverage for the entire time period.  

If you are told to get SR22 insurance coverage, call an insurance company today (pop over here for more information). They can give you a quote for a regular policy or a non-owner policy, and this call will get you one step closer to completing your requirement. 

Share