Cheapest SR-22 Car Insurance In Colorado For 2024

Understanding car insurance, especially when you need SR-22 certification in Colorado, can be tough. SR-22 is for drivers considered high-risk, like those with DUIs or multiple tickets. Getting SR-22 insurance might seem expensive, but there are ways to find cheaper options.

In Colorado, adding SR-22s to your car insurance policy comes with extra charges. Based on my experience in the insurance field, I’ve noticed these cost hikes varying from minor to substantial.

Additionally, I’ve seen companies refuse to provide policies for individuals requiring SR-22s. Sorting through different company policies and prices to find the right fit can be time-consuming. Luckily, I’ve already done the groundwork, saving you the hassle.

This guide will show you how to get the most affordable SR-22 car insurance in Colorado, so you can follow the rules without spending too much.

Cheapest SR-22 Insurance Companies In Colorado

I’ve listed down the top three cheap SR-22 insurance companies in Colorado with liability only:

• American National – $796 Annually
• State Farm – $806 Annually
• Colorado Farm Bureau – $1,012 Annually

Cheapest SR-22 Insurance Policies With A DUI (Liability Only)

Cheapest SR-22 Insurance With Full Coverage

For individuals requiring more than just liability coverage, here are the three most affordable SR-22 insurance plans in Colorado that offer comprehensive coverage:

• American National – $806 Annually
• State Farm – $992 Annually
• Colorado Farm Bureau – $1,072 Annually

Cheapest SR-22 Insurance Policies With A DUI (Full Coverage)

What Is SR-22 Insurance?

SR-22 insurance is for people who have had some problems with driving, like getting a DUI (driving under the influence) or OWI, or driving without insurance. It’s a way to prove to the government that you’re responsible enough to drive, even though you’ve had some issues in the past.

When you get SR-22 insurance, your insurance company sends a special form, called an SR-22, to the government. This form shows that you have the right kind of insurance coverage. It’s like a promise from your insurance company that they’ll cover you if something happens while you’re driving.

Getting SR-22 insurance usually costs more than regular car insurance because you’re considered a higher risk. That means you might have to pay higher premiums (the amount you pay for insurance) than other people. The good news is that you usually only need SR-22 insurance for a few years, depending on what happened before.

What Is SR-22a Insurance

In certain states, drivers may be required to obtain an SR-22a instead of the standard SR-22. This typically applies to individuals with multiple violations of financial responsibility laws or more severe citations. Missouri, Georgia, and Texas are examples of states that may request this particular form.

Cheapest Non-Owner SR-22 Insurance Companies In Colorado

If you’re required to file for an SR-22 but don’t have your own car, getting a non-owners policy is your best choice. Here are the most affordable non-owner SR-22 policies available in Colorado.

• Geico – $457 Annually
• State Farm – $483 Annually
• State Farm- $536 Annually

Average Cost Of SR-22 Insurance In Colorado

How SR-22 Affects Car Insurance Rates

On average, drivers can anticipate paying around $993 more per year for their car insurance when they have an SR-22. This increase is typically linked to incidents on your driving record that led to needing the SR-22, rather than the SR-22 itself directly causing the hike. For instance, if you were convicted of a DUI and required to obtain an SR-22, the higher premium would likely be due to the DUI.

Additionally, there’s a filing fee for an SR-22, which falls between $15 to $25. This fee is separate from the rate increase. Once the SR-22 is no longer necessary, you can remove it from your policy, which can help lower the premium increase.

How To File An SR-22

Filing an SR-22 is a straightforward process, but it’s important to follow the necessary steps accurately. Begin by reaching out to your insurance company and informing them of your need for an SR-22. They will then ask for essential information such as your name, address, and driver’s license number, along with details about why you require the SR-22.

After providing this information, you’ll need to pay the filing fee, which typically accompanies the SR-22 process. Once all the required information and fees are submitted, your insurance company will proceed to file the SR-22 with the state on your behalf.

You’ll receive confirmation once this is completed. It’s crucial to maintain your SR-22 by staying current with your insurance payments and adhering to all driving laws for the duration specified by the state.

Regularly follow up with your insurance company or the state to ensure everything remains in order. By following these steps diligently, you can successfully file an SR-22 and fulfill your legal obligations.

How Long Do I Need To Have SR-22 Insurance?

The duration for which an SR-22 is necessary varies depending on the state. In Colorado, the minimum period for filing is three years, but depending on the circumstances necessitating the SR-22, it may be mandated for up to five years. Additionally, you must retain the SR-22 even if you relocate out of the state that originally required it.

Other Effects Of SR-22 Insurance

Apart from influencing your car insurance premiums, SR-22s can also impact your ability to drive legally. Failure to obtain an SR-22 within the specified timeframe or maintain it for the required duration could lead to the suspension of your driver’s license or vehicle registration by the state.

Additionally, you might face financial penalties and reinstatement fees. Moreover, not all insurance companies are willing to provide policies for individuals requiring SR-22s, which can limit your options when searching for coverage.

SR-22 Insurance State Requirements

As expected, each state sets its own guidelines regarding SR-22 requirements. For instance, there are several states where SR-22 filings are not necessary, including

• Delaware
• Kentucky
• New Mexico
• New York
• North Carolina
• Oklahoma

Meanwhile, other states like Florida and Virginia mandate drivers to demonstrate proof of carrying insurance coverage exceeding the minimum legal requirements. In cases of certain violations like DUIs or DWIs, Florida and Virginia might also require an FR-22 form.

On the other hand, states such as Arkansas and Indiana have unique procedures. For example, instead of filing proof of continuous coverage, Arkansas mandates an SR-21 form after accidents meeting specific criteria to demonstrate insurance was active at the time of the incident. Similarly, Indiana requires an SR-50 form following a DUI to confirm the period of insurance coverage.

How Much Does Credit Score Affect SR-22 Insurance Costs

Your credit score can indeed have a significant impact on the cost of SR-22 insurance. Insurance companies often consider credit history as one of the factors when determining insurance premiums, including SR-22 coverage. Generally, individuals with lower credit scores may be viewed as higher risk by insurance providers, leading to higher insurance rates.

Insurance companies use credit scores as part of their risk assessment process. They believe that individuals with lower credit scores are more likely to file insurance claims. Therefore, they may charge higher premiums to offset the perceived risk.

Having a poor credit score can result in higher SR-22 insurance costs. On the other hand, individuals with good credit scores may qualify for lower insurance premiums. This is because insurance companies see them as lower risk and are more likely to offer them better rates.

It’s essential to note that the impact of credit scores on SR-22 insurance costs can vary depending on the insurance company and state regulations. Some states have restrictions on how much insurance companies can use credit scores to determine rates, while others allow more flexibility.

Alternatives To SR-22

If your state mandates an SR-22, there’s no avoiding the need to file one. As mentioned earlier, certain states either don’t necessitate an SR-22 or might ask for alternative forms like SR-21, SR-50, or FR-22. To ascertain precisely what’s required in your situation, reaching out to a local independent agent could be your most suitable course of action.

How To Get Cheaper Car Insurance In Colorado After A DUI

Getting cheaper car insurance in Colorado after a DUI can be challenging, but there are steps you can take to help lower your premiums. First, consider completing a DUI education or treatment program, as some insurance companies offer discounts for completing these programs.

Additionally, improving your driving record by avoiding any further traffic violations can demonstrate to insurers that you are a responsible driver. Shopping around and comparing quotes from multiple insurance companies can also help you find the most affordable coverage.

Furthermore, consider raising your deductible, as opting for a higher deductible can lower your premiums. Lastly, if possible, try bundling your car insurance with other policies, such as homeowners or renters insurance, as insurance companies often offer discounts for bundling policies together.

By following these steps and being proactive, you can work towards securing cheaper car insurance in Colorado even after a DUI.