The Complicated World of Insurance Made SimpleThe Complicated World of Insurance Made Simple

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The Complicated World of Insurance Made Simple

When I bought my first home, I had a real estate agent lead me through the entire home-buying process. This made it simple and easy for me. However, when it came time to choose a homeowners insurance policy, I became very confused about what made up a good policy. I started by doing a lot of online research into what homeowners insurance features were needed in my area and then finally called an agent who led me step-by-step through choosing the policy that was best for me and my home. I learned a lot during my research and time spent talking to my agent. I have also learned a lot about other types of insurance over the years, so I thought I would start a helpful blog all about insurance. I enjoy helping others, so come back often for new tips!


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SR-22 Insurance For A Person Who Doesn't Own A Car

It is very common for a person to need to purchase SR-22 auto insurance after he or she gets a DUI or any other type of major driving violation like this. SR-22 insurance is a high-risk form of auto coverage that will cost more money than a traditional policy. If you need this coverage but do not even own a car, you might be wondering if you still need the coverage, and if so, what you should expect from it. If you are in this situation, here are a few things you should understand.

Having SR-22 is a requirement for a time period

When a person is required to have SR-22 insurance, the most important thing to understand is that this requirement is for a specific, stated time period. It might be a time period of three years, or it might be longer than this, but it will always be for a stated amount of time. To complete this time frame, the person must carry a policy consecutively for the period of time required, whether or not the person owns a car. Owning a car does not matter because having SR-22 insurance is a requirement either way.

You will pay lower rates if you do not have a car

The good news is that when you purchase SR-22 coverage without owning a vehicle, you will pay lower rates since you are not insuring a car. You are really only insuring yourself if you drive another car. When you do not own a car and need this coverage, you would purchase a non-owner SR-22 insurance policy. This means that you have insurance coverage, in the form of SR-22 coverage, but you are not insuring a car. Having a non-owner policy would still qualify as SR-22 insurance for the time period required when you need SR-22 coverage.

Failing to purchase the policy could affect your driver's license

One last thing to understand is that if you do not purchase SR-22 coverage when you are supposed to, you take the risk of losing your driver's license. If this is required, you have to purchase a policy. If you do not, the DMV could revoke your privilege to drive.

When you are told to purchase SR-22 insurance, you should contact an insurance company to buy a policy quickly because you will only have a limited amount of time to get it done.

For more information, contact an auto insurance company.