Will Your Auto Insurance Provider Drop You After You File An SR-22?
If you were recently convicted of driving under the influence (DUI), driving while intoxicated (DWI), or another serious driving offense, then chances are you'll need to file an SR-22 with your auto insurance provider. You might've heard plenty of stories about insurance companies kicking their customers to the curb after they tried to file an SR-22 with them.
The following talks about how your auto insurance provider will likely handle your need for an SR-22. You can also learn what to do if your insurer drops your current coverage.
It Depends on the Insurer
For auto insurance companies, providing coverage is all about managing risk. Drivers with zero accidents and a perfect driving record represent the least amount of risk, as they are less likely to file an expensive claim with their insurance provider. Being convicted of a DUI or DWI puts you in a category that represents the greatest amount of risk to your insurance provider.
There are plenty of ways that insurance companies deal with drivers who've suddenly become high-risk. Some companies may double or even triple that person's insurance premiums in order to adequately cover the increased risk. Others may decline to renew your auto insurance policy once it expires. If this happens, your insurance provider may notify you via letter 30 to 60 days before to policy is set to lapse.
Some insurance providers may even decide to cancel your coverage immediately upon receiving an SR-22 request. Although this seems rather abrupt and unfair, insurance companies are well within their power to minimize their exposure to risk.
What to Do If Your Provider Drops You
If your auto insurance provider decides to end your coverage because you need an SR-22, you'll have to shop for a new auto insurance policy as soon as possible. Although some companies won't work with new customers who need an SR-22, there are those that specialize in insuring high risk drivers.
There's a good chance you'll end up paying more than you originally paid for your old policy, but at least you'll have coverage. However, you can soften the blow by comparison-shopping among multiple insurance providers. This way, you'll be sure to find an affordable auto insurance policy that meets your unique needs.
In most states, you'll be stuck with an SR-22 until you have at least 3 consecutive years of a spotless driving record. Until then, you'll have to put up with the unique aspects of having an SR-22 on your auto insurance policy. For more information, contact local professionals like Angel Auto Insurance.
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