When you have to take out SR22 insurance, there are numerous things you might be worried about. One of them is how long it will stay on your record. This will affect how long you have to pay increased rates and stick with an SR22 registered insurer. Below you’ll discover everything you need to know about how this insurance policy affects your record.
The impact SR22 has on your record
Generally speaking, a certificate of financial responsibility doesn’t have a huge impact on your driving record. It is temporary and providing you meet the terms and conditions of the insurance, it won’t cause any lasting damage.
The majority of people have to keep paying for the policy for three years. After that it disappears from their record and they can go back to taking out standard cover. However, if the driving offense was a serious one, the SR22 could stay on your record for five years. The DMV should inform you how long you need to have the insurance, though if they don’t you can always contact them to ask about it.
If you fail to continually pay for the insurance, it will have a negative effect on your record. Your license could also be revoked. Therefore it is essential you meet the requirements of the insurance cover in Ohio if you want it to be taken off your record as quickly as possible.
How it affects your insurance rates
The main impact SR22 insurance has is on the rates you have to pay. Drivers with a certificate of financial responsibility are seen to be a higher risk. This means insurers will charge more than the standard rate to get the cover you need. You could end up paying hundreds of dollars on top of what you usually pay.
Overall this type of cover will stay on your record for three to five years. After that you will be able to take out less expensive insurance.