In Illinois, if you want to obtain a driver's license you must meet the requirements enforced by the Office of the Secretary of State. That state department also handles requests for SR22 insurance for drivers who have serious violations on their driving records. When you are looking for SR22 insurance cost in Chicago, you must purchase the coverage from providers approved by the secretary of state.
SR22 insurance, also known as financial responsibility insurance, is a type of coverage for drivers who have suspensions, revocations and unsatisfied judgment suspensions on their driving records. It is also required if you have three or more insurance violation convictions.
The state's term for citizens who need SR22 insurance is "problem drivers." The state has the authorization to monitor the insurance of any driver who needs SR22 coverage.
If you fall into the category of drivers who need this type of coverage, you will need to shop around and compare SR22 insurance cost in Chicago. If you are what the state deems a problem driver you have no choice but to pay for financial responsibility insurance.
When you seek to find an affordable SR22 insurance cost in Chicago, you need to make sure that the company you choose will submit an SR22 certificate on your behalf to the state. This certificate, formally known as the Financial Responsibility Certificate must come from the home office of your insurer. The secretary of state's office maintains a list of all insurance companies that can write SR22 policies in the state.
The Chicago SR22 insurance cost for your coverage will depend on the liability limits of the policy. Insurance companies will provide different levels of coverage. The state requires SR22 policies to meet a minimum liability amount. There are three types of SR22s an insurance company can submit to the state: operator's certificate, owner's certificate and operator-owners certificate. An operator's certificate is for insurance coverage when you are driving a car that you do not own. An owner's certificate is for coverage when you own the vehicle you are driving. An owner-operator certificate covers any vehicle that you drive, regardless of ownership.
The amount of time you must carry an SR22 policy depends on your driving violations. You may only be required to have SR22 coverage for a year. For more serious violations, you may have to maintain financial responsibility insurance for several years. Once your have fulfilled the obligations of the SR22 requirement, the secretary of state will issue a SR26 form to cancel the insurance. Technically, SR22 is not insurance but serves more like a legal affidavit proving that you have insurance coverage.
When you find an insurance company that will provide you with a policy with an SR22 filing and make your first payment, your insurance agent will submit your SR22 to the state for you. Generally, insurance companies will submit the form electronically so you will only have to wait a few days for your coverage to begin. However, in some cases, it can take up to 30 days according to the secretary of state's office.
It is your responsibility to renew the policy if necessary in order to avoid further suspensions and punishment from the state. If you need to renew an SR22, you must do it at least 45 days in advance. If you do not renew your SR22 by the state's deadline, your insurance company is mandated by law to contact the state. However, your insurance company will provide you ample notice of state deadlines so you can remain in good standing and move closer to being able to drive without the SR22 requirement.
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