Elijah Black is a Greenville, South Carolina native with a B.A. English from Coastal Carolina University. He is a fiction writer and also works as a freelance writer and editor. He’s worked as a Production Assistant for WYFF 4 and has been published in several publications and websites across the United States.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Reviewed by Rachael Brennan
Licensed Auto Insurance Agent

UPDATED: Apr 1, 2021

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Don't Forget These Facts

  • FR bonds are a type of car insurance coverage.
  • SR-22 is a certificate to prove minimum insurance is held.
  • An FR bond adds additional coverage to the minimum liability coverage required by the state.

If you have been looking for high-risk car insurance in Ohio, there are some common terms you may want to be clarified. Such as, what is an FR bond vs SR-22 insurance? What is FR bond insurance? 

Keep reading to learn more about both FR bonds and SR-22s, when you need them, how you get them, and the major differences between them. 

Want to find high-risk insurance quotes near you? Enter your ZIP code above and we will help you find car insurance companies in your area.

What is an FR bond? 

An FR bond, also called FR bond insurance, is technically a financial responsibility bond.

A bond is a significant amount of money set aside for a single purpose. In this case, this money is used as a sort of liability car insurance. 

In Ohio, this car insurance bond will cover anywhere from $25,000 to $50,000 per accident for bodily injury and up to $25,000 for property damage that you cause in an accident. 

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What is an SR-22?

An SR-22, despite often being called SR-22 insurance, is not insurance at all. It is instead a certificate that proves the holder has the minimum cover required by the state. 

The certificate itself does not provide any coverage for you or your car. Instead, once you have obtained insurance, you can apply for this certificate, or have your insurance company apply for it on your behalf. 

When do you need an FR bond vs SR-22?

The circumstances surrounding FR bonds and an SR-22 are very similar. Individuals would be required to get an SR-22 or an FR bond if they have been deemed a high-risk driver. 

Generally, an FR bond is required in instances where you have had multiple incidents on your driving record, or a DUI/DWI conviction.

An SR-22 is considered a lesser step, given to drivers who are considered high-risk, but who may have fewer infractions on their record. 

There are many actions that can cause someone to be designated a high-risk driver, but here are the most common ones: 

  • DWI/DUI conviction
  • Multiple at-fault accidents
  • Reckless driving
  • Driving without a license or insurance 
  • Multiple moving violations

Where do you get an FR bond or SR-22? 

FR bond insurance is not offered by all insurance companies. To find a company offering FR bonds, you want to look for companies that provide high-risk insurance. 

Once you find a company that fits your budget, you simply sign up for the insurance and the company will provide notice to the Ohio Treasury, according to the Ohio Department of Insurance

Between the additional cost of the bond and the rise in rates that accompanies at-fault accidents, or other traffic violations, you are generally going to see higher insurance rates once you obtain your FR bond. 

To minimize your costs, we highly recommend that you get as many FR bond insurance quotes as possible. Each insurance company configures its rates in a different way. 

This means that the cost of your premiums with one provider may be significantly higher than a different provider, even when providing identical information. 

Obtaining an SR-22 is a very similar process.

As stated before, this is only a certificate proving to the state that you have the minimum coverage required. Thus, you can only apply for the SR-22 once you have signed up for this coverage. 

Many insurance companies will actually submit the request for an SR-22 on your behalf once you have signed on to a policy with them, making the process easy. 

Other insurance companies may not offer this, however, so it’s important to be upfront with your prospective insurance provider. Remember to apply for numerous quotes to ensure you aren’t overpaying for car insurance. 

If you are in the market for high-risk coverage in Ohio, or anywhere else, and don’t know where to start, we can help.

Just enter your ZIP code below and we will look up the best agents and companies near you.

References