Florida SR22 insurance, as its frequently called, isn’t really a different type of car insurance. Simply put, SR22 is the name of the document which is used by insurance companies to show that a person has an insurance policy maintaining the limits of liability.
SR22 form is filed by your car insurance company to the Florida’s Bureau of Financial Responsibility, in case of course you are required to submit such verification of liability insurance. Driving under the influence, too many points on your license for traffic violations, driving without insurance are some of the reasons why you may be required to have SR22.
The insurance law in Florida (No Fault) states that the minimum requirements for an auto insurance policy are Personal Injury Protection (PIP of $10,000 and Property Damage Liability (PDL) of $10,000. Bodily Injury Liability (BIL) is added in addition to the minimum Florida No Fault requirements if you need SR22 Insurance. $10,000 per person and $20,000 per accident are the minimum Bodily Injury Liability limits for SR22 in Florida. The SR22 requirement can also be fulfilled with a single limit of liability – $30,000.
The amount you will pay for Bodily Injury Liability will be the same regardless of the fact that SR22 filing is requried. A $15 filing fee is the only additional cost for you.
However, if SR22 form filing is required you will pay more for your car insurance. Its not because of the SR22 form, but rather because of the reasons stated above – DUI, too many points on your license for traffic violations, driving without insurance.
If you don’t comply if mandated by the Bureau of Financial Responsibility, your driver’s license and or vehicle license plate will be suspended. If this happens, you will have to pay reinstatement fees in addition to the filling fee.