Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insu...

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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

  • SR-22 bonds are designed for those who have had multiple accidents or violations. 
  • SR-22 bonds are filed and issued by insurance providers.
  • Your insurance rates will go up in the event that you require SR-22 bond insurance. 

If you are on the hunt for SR-22 bond insurance, you may find yourself wondering; What’s the difference between SR-22 bond insurance vs insurance? 

In this article, we’ll go over the main differences by exploring exactly what SR-22 bond insurance is, what it covers, who needs it, and other must-have information. Keep reading to make an informed decision on your SR-22 bond. 

Are you looking for the most affordable SR-22? Enter your ZIP code above and we’ll help you find affordable rates near you! 

What does SR-22 bond insurance cover? 

Despite often being called SR-22 bond, or SR-22 bond insurance, an SR-22 is not technically a type of insurance at all.

An SR-22 is a form that is filed as proof that your insurance company is providing you with at least the minimum liability coverage your state requires. 

An SR-22 bond is a bond, or a set amount of money set aside on top of existing insurance to cover costs for the other party in an accident.

This bond money is essentially a bare-bones liability coverage. 

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Who needs an SR-22 bond?

According to the Oregon Department of Transportation, there are a variety of reasons that someone would need to obtain an SR-22, and they vary state-to-state.

Some of the most common reasons an SR-22 will be required are:

  • Being convicted of DUI or DWI
  • Driving or accidents while being uninsured
  • Multiple at-fault accidents
  • Suspended or revoked license
  • Repeated and/or serious traffic offenses

How do you get an SR-22?

Each state had its own process and costs related to filing an SR-22 bond. However, in most states, your insurance company will file the form for you at your request, and create the policy for you.

The majority of large insurance companies, like Allstate, American Family, Progressive, and others, do this. 

Will an SR-22 bond raise your insurance rates?

The short answer is yes. How much it will affect the cost, however, is going to vary widely depending on the individual circumstances.

In general, the reasons behind having to file an SR-22 are going to raise your rates with most insurance companies. 

Being convicted of a DUI, having numerous at-fault accidents, and other behaviors mentioned above class you as a high-risk driver. This, in turn, raises your rates with insurance companies. 

The minimum coverage that is required of an SR-22 bond is also going to vary from state to state, and the amount of that bond you have to pay up-front will also vary. 

That’s why it’s a great idea to shop around at the time of getting your SR-22 bond. You may find some companies are more forgiving in their rates based on your individual circumstances. 

Now that you better understand how an SR-22 bond relates to traditional auto insurance, enter your ZIP code below and we’ll help you find a plan that suits you.