Almost every state in the country is going to require drivers to provide proof that they have liability coverage. This goes along with the driver fulfilling their financial responsibility of maintaining current insurance. Additionally, SR 22 insurance is handled differently in each state with Colorado being no exception.
Some states may require all drivers to carry SR-22 insurance, but Colorado is not one of them. SR-22 insurance Colorado regulations and requirements are different than others but for drivers that require such coverage, it’s imperative to understand the process.
The best thing anyone in the Centennial State can do is avoid the need for an SR-22 financial responsibility insurance certificate as they are for drivers who have lost their license for a number of reasons. However, mistakes happen and it’s never too late to take advantage of a second chance. Learn more below about how to turn things around.
What Is SR 22 Insurance in Colorado?
An SR 22 car insurance policy in Colorado is technically not a policy at all, but rather, a certificate required by the state to confirm an individual’s maintenance of auto insurance liability coverage following a driver’s license suspension or revocation.
This document serves as special proof of insurance and financial responsibility in the event you’ve suffered a qualifying violation. Additionally, this is also why SR-22 in Colorado primarily arises when seeking to reinstate a driver’s license. You’ll need it as proof of auto insurance to complete the reinstatement process.
Often, SR-22 insurance is mistaken for the form used to demonstrate proof of liability coverage. Technically, while this document, does show proof of liability coverage and is mandated by the Colorado Department of Motor Vehicles (DMV) to serve as evidence of Colorado auto insurance, it’s slightly different.
You’re still going to have to purchase liability coverage from your insurance carrier to remain legal and to protect yourself from liability risks. The SR 22 “car insurance” is an additional form but will not protect you in the event of an accident.
In Colorado, insurers report SR-22 car insurance status changes to the DMV, emphasizing the need for ongoing auto insurance coverage to avoid complications. A lapse can lead to license suspension and financial consequences in case of an at-fault accident. Legal issues may also arise based on your circumstances.
Furthermore, maintaining continuous coverage, especially for individuals with prior issues, impacts your insurance eligibility and rates. Some insurers may even deny coverage due to your history.
SR-22 requirements are mandated nationwide, primarily affecting those with DUIs, uninsured accidents, or suspended licenses. Each state specifies the duration, and once it ends or is canceled, an SR-26 form is issued by your insurer to confirm cancellation.
How Much Is SR 22 Insurance in Colorado?
Colorado SR 22 insurance cost has a lot of different factors but the main one is the carrier providing you coverage. You can expect to pay several hundreds of dollars per year along with filing fees and reinstatement fees. To file, your carrier may charge $25 to $50 and reinstatement can cost around $100, but again, may vary.
To get cheap SR 22 insurance in Colorado, you’ll have to apply many of the same things you would when shopping for any other coverage. Be sure to shop and compare your options to find the lowest rate for your protection and avoid overpaying in the process.
Non Owner SR-22 Insurance for Colorado Drivers
While typically required of those who have had their license suspended or revoked in some way, non owner SR 22 insurance is also available. This is for drivers who may have access to a vehicle but do not own one outright.
Colorado residents who occasionally drive rented or borrowed vehicles can safeguard themselves with non-owner SR car insurance. This policy adheres to the state’s minimum auto insurance requirements but lacks comprehensive coverage for self-injury or vehicle damage.
Non owner SR car insurance is typically more affordable than standard policies for those in this position, but they still cost hundreds of dollars per year on average in Colorado, in line with nationwide trends.
Keep in mind that your rates still vary based on location, factors like age, vehicle model, and driving history have a more substantial impact. This type of coverage suits car borrowers, occasional renters, those between vehicles, and license reinstatement seekers following suspensions.
However, it’s also important to note “one-day insurance” offers in Colorado, as they may not be available and could potentially be fraudulent. It’s always best to avoid these options. Instead, explore temporary auto insurance options from reputable car rental companies and solutions from your carrier.
How To Get SR 22 Insurance in Colorado
If you need to get an SR 22 financial responsibility insurance certificate, with the exception of being a non-owner, you’re likely going through a bit of a setback. However, with the right steps and team, you can get back on track and protect yourself from liability. Here is how to get SR 22 insurance in Colorado.
Have Your Colorado Driver’s License Suspended or Revoked
First, you’ll have to get your license taken away. The exception to this rule is if you are a non-owner looking to secure coverage for a vehicle you often drive. This isn’t recommended, but if you don’t have your license taken away, you’ll simply need to enroll in liability coverage like any other driver as mandated by Colorado law.
Contact Your Auto Insurance Carrier About Colorado SR 22 Insurance
To obtain an SR-22 certificate in Colorado, purchase at least the state’s minimum liability car insurance coverage, and your insurance company will handle the filing with the DMV. If you need an SR-22 for a new policy, specify it on the form. For existing policies, contact your insurer to make the necessary changes.
Colorado’s SR-22 insurance requirements typically last 3-5 years, as long as you maintain your policy. Your insurer must notify the state if you cancel or prematurely lapse your policy.
At Freedom Insurance Group, we assist Colorado drivers in finding affordable coverage, especially for high-risk drivers. We tailor coverage to individual needs, even for those with past violations or claims history, and can help you find an affordable SR 22 insurance quote.
Whether it’s handling SR-22 insurance forms or providing quality liability car insurance, we’re here to help, offering access to many top-rated Colorado auto insurance companies available. Give us a call today or fill out an online form for your free, accurate auto insurance quote.
Check That You’re Filed With the Colorado DMV
When reinstating your license after certain suspensions or revocations, you may need to file an SR-22. This form obligates your insurance company to inform the DMV if your policy is canceled, but remember that the SR-22 itself isn’t an insurance policy.
Failure to maintain your SR-22 can lead to your insurance company notifying the Motor Vehicle Division, even though the SR-22 is still required. This could result in the suspension of your driver’s license.
When you buy liability insurance, your insurance agent can provide you with the SR-22 form. After purchasing liability insurance with the SR-22 rider, you must submit the form to the Colorado Division of Motor Vehicles:
- Upload your form at Colorado.gov at the bottom of the tab labeled “Driver/ID Services.”
- Alternatively, you can mail the Application for Reinstatement (Form DR 2870) and whatever else is required in your situation to be reinstated.
What Does SR 22 Insurance Cover for Colorado Drivers?
Nothing, because SR 22 insurance is a term used to refer to a form and not actual coverage. You can still protect yourself from a variety of perils from viable coverage options including a liability policy, mandatory by state law. Some of the most common coverage options are as follows:
- Comprehensive coverage in Colorado isn’t required but can come in handy. You’re protected against weather-related losses, such as damage from a tornado, snowstorm, flood, or fallen tree branch when you’re not driving the car.
- Colorado collision coverage is how you restore your own vehicle if you cause a wreck. Liability coverage restores another party’s losses but if you want to protect your own vehicle, you’re going to need this coverage too.
- Full coverage in Colorado can help you protect against all of the above because it combines them together into one policy. A great way to get more coverage for less because of bundling discounts, and in some cases, full coverage is necessary when financing your vehicle.
There are plenty of additional coverage options for specific perils that you can look into with a licensed insurance agent to meet your needs. However, the takeaway here is that some kind of coverage will still be necessary even if you are required to carry an SR 22 form in Colorado because the form itself isn’t a type of protection.
Do I Need SR 22 Insurance in Colorado?
Remember, SR 22 insurance is actually a form to prove you have coverage. However, not all drivers need this in Colorado. It’s only a requirement for reinstating a suspended or revoked driver’s license or for those who need coverage but don’t own a vehicle.
The form is used mostly following various violations that can include certain forms of reckless driving, hit-and-run situations, or DUIs. The duration for which one must maintain SR-22 varies but can last three to five years, depending on the situation. Under normal circumstances, liability coverage alone will suffice to keep you legal.
SR 22 Insurance Near Me in Colorado
Who you enroll with matters and when you need coverage and an SR 22 form, it can be difficult to keep costs down. However, you have options to help you save on premiums. If you want to get a cheaper second chance for your coverage, contact Freedom Insurance Group.
Proudly serving Colorado, we offer SR 22 “insurance” options among many other coverages to help drivers in the Centennial State stay legal and protected. Give us a call at the number above to see how we help drivers shop, compare, and save with ease.