An SR22 can only be filed by an insurance company that is authorized to issue SR22s. The SR22 is a document required by a court or by a state law for persons convicted of certain traffic violations, such as DUI, reckless driving, multiple offenders, accidents without insurance coverage in force, etc. It is filed with the department of motor vehicles by an insurance company on behalf of an insured who has a suspended license that can only be reinstated once an SR22 filing is on record with the department of motor vehicles and once all fines and other court ordered requirements are met.
The SR22 filing is a document required by the department of motor vehicles to maintain a driver license in active status per a court mandated order. The filings are required for 3 years after the conviction date. The filing is proof that the driver is in compliance with the state's Financial Responsibility law. The SR22 filing is submitted electronically to the department of motor vehicle's database. When and if your policy cancels or lapses, the insurance carrier notifies the department of motor vehicles of the lapsed or cancelled status. The department of motor vehicles then issues a suspension of the driver's license.
The SR22 is a mechanism meant to ensure that drivers who have been convicted of serious driving offenses comply with the state's financial responsibility laws. There is usually an annual filing fee charged by the insurance company to file the SR22 with the state. Once the probationary period is over, the SR22 filing is not required to maintain an active driver's license. Every state has its own requirements and variations on this form.
The SR22 is state specific. The requirements in one state may not be the same in another state. You can expect an SR22 requirement or financial responsibility in every state with few exceptions. If you have an SR22 in one state and then move to another state, you will be required to meet the SR22 guidelines of the state where the offense was committed, regardless of your state of residence. Most insurance companies don't offer out-of-state filings.
If you carry an SR22 in a particular state and move to another state you must meet the SR22 filing period required by your former state of residence and your insurance policy for your new state of residence must have liability limits which meet the minimum required by law in your former state. An SR22 can only be filed by an insurance company that is authorized to issue SR22's.
I do not know of any state that requires the actualform to be in the vehicle or on your person. Most states submit the SR22 filing electronically to your driving record. Law enforcement can look up the filing status.
Article Source: http://EzineArticles.com/6695513
vendredi 10 février 2012
Know the Indispensable Nature of Auto Insurance Coverage
If you own a car, then you must know how crucial auto insurance is. By law auto insurance is unavoidable, but this means just to buy the minimum amount of liability insurance required by a particular state. However, auto insurance is far more extensive than just covering the liability costs. If you need total protection from the various costs related to an auto accident, then it's very important to know the various angles of auto insurance coverage. Read on to know the importance of auto insurance coverage and how auto insurance benefits you in various ways.
Types of auto insurance coverage
Buying the suitable amount of auto insurance coverage can really protect you from the financial hazards related to accidents.
Following are the basic coverage that you can get in a typical auto insurance policy:
Bodily injury liability (BI):
This coverage pays for the physical damage that you cause to others in an accident. BI covers the medical bills, pain and suffering and lost wages of the injured party from your side. This coverage also protects you from the cost incurred by lawsuits, if the other party chooses to sue you for their suffered damage. In a tort state, this is the only way of receiving reimbursement in an accident, from the at-fault driver.
Property damage liability (PD):
This covers the liability costs for others' damaged property. If you cause any kind of property damage of the other party, ranging from their vehicle to house or garden fence, PD pays for the loss on your behalf.
Medpay or Personal injury protection (PIP):
This part of the coverage looks after your own medical bills that may arise as a result of an accident related injury. PIP covers you, your passengers and all your permitted drivers for suffered loss. Apart from medical expenses, it also covers for lost wages, funeral expenses and child-care expenses, depending on the policy.
In "no-fault" states, you can get reimbursement for all the above mentioned losses, even if the other party is at fault. This means you don't have to wait for fault determination or lose time in suing the other party to cover for your loss. However, you are free to file a lawsuit, if your losses are higher than the compensation received up to your PIP limit.
Collision coverage:
This coverage pays for the damages suffered by your own car in an accident. Due to collision of vehicles, if your car is damaged, this coverage kicks in, after you pay the deductibles.
Comprehensive coverage:
Collision of vehicles is not only the cause that can harm your vehicle. If your car is damaged due to some other events like fire, theft, vandalism, hail and storm, etc, comprehensive coverage pays to cover for the damage.
Uninsured/Underinsured motorists coverage (UM/UIM):
This coverage pays for your loss, if you suffer in an accident caused by an uninsured or minimally insured driver. This coverage also pays, in case you get victimized in a hit and run situation or by a 'phantom vehicle'.
auto insurance benefits are the most vital to consider, if you possess a vehicle and are worried about your own and your passengers' safety. Understanding your needs and buying appropriate coverage is thus the best thing you can do, before you hit the road.
4.It is not a wise idea to go for individual plans
Most of the people prefer to go for employer's group health insurance plans. They think that individual health insurance plans are quite expensive. But this is not always true. It is said that a steady rise in the cost of the employer's group health insurance plans has been seen in the last few years. A lot of employers have been forced to reduce the benefits due to the rapid increase in the premium rates. Apart from that, the employers are required to follow the state health insurance laws by any means. This implies that you'll have to take up the coverage you don't even need.
However, if you go for individual health plans, then you can purchase the coverage as per your needs. You can purchase coverage as per your health condition. You won't have to spend extra money for the coverage you won't even require in future.
Finally, a lot of people think that the maximum number of uninsured people is below 25 years. Well, this is not exactly true. Statistics reveal that the most of the uninsured people are between 30 and 50 years.
Article Source: http://EzineArticles.com/6783316
Types of auto insurance coverage
Buying the suitable amount of auto insurance coverage can really protect you from the financial hazards related to accidents.
Following are the basic coverage that you can get in a typical auto insurance policy:
Bodily injury liability (BI):
This coverage pays for the physical damage that you cause to others in an accident. BI covers the medical bills, pain and suffering and lost wages of the injured party from your side. This coverage also protects you from the cost incurred by lawsuits, if the other party chooses to sue you for their suffered damage. In a tort state, this is the only way of receiving reimbursement in an accident, from the at-fault driver.
Property damage liability (PD):
This covers the liability costs for others' damaged property. If you cause any kind of property damage of the other party, ranging from their vehicle to house or garden fence, PD pays for the loss on your behalf.
Medpay or Personal injury protection (PIP):
This part of the coverage looks after your own medical bills that may arise as a result of an accident related injury. PIP covers you, your passengers and all your permitted drivers for suffered loss. Apart from medical expenses, it also covers for lost wages, funeral expenses and child-care expenses, depending on the policy.
In "no-fault" states, you can get reimbursement for all the above mentioned losses, even if the other party is at fault. This means you don't have to wait for fault determination or lose time in suing the other party to cover for your loss. However, you are free to file a lawsuit, if your losses are higher than the compensation received up to your PIP limit.
Collision coverage:
This coverage pays for the damages suffered by your own car in an accident. Due to collision of vehicles, if your car is damaged, this coverage kicks in, after you pay the deductibles.
Comprehensive coverage:
Collision of vehicles is not only the cause that can harm your vehicle. If your car is damaged due to some other events like fire, theft, vandalism, hail and storm, etc, comprehensive coverage pays to cover for the damage.
Uninsured/Underinsured motorists coverage (UM/UIM):
This coverage pays for your loss, if you suffer in an accident caused by an uninsured or minimally insured driver. This coverage also pays, in case you get victimized in a hit and run situation or by a 'phantom vehicle'.
auto insurance benefits are the most vital to consider, if you possess a vehicle and are worried about your own and your passengers' safety. Understanding your needs and buying appropriate coverage is thus the best thing you can do, before you hit the road.
4.It is not a wise idea to go for individual plans
Most of the people prefer to go for employer's group health insurance plans. They think that individual health insurance plans are quite expensive. But this is not always true. It is said that a steady rise in the cost of the employer's group health insurance plans has been seen in the last few years. A lot of employers have been forced to reduce the benefits due to the rapid increase in the premium rates. Apart from that, the employers are required to follow the state health insurance laws by any means. This implies that you'll have to take up the coverage you don't even need.
However, if you go for individual health plans, then you can purchase the coverage as per your needs. You can purchase coverage as per your health condition. You won't have to spend extra money for the coverage you won't even require in future.
Finally, a lot of people think that the maximum number of uninsured people is below 25 years. Well, this is not exactly true. Statistics reveal that the most of the uninsured people are between 30 and 50 years.
Article Source: http://EzineArticles.com/6783316
Money Saving Tricks for Car Insurance
If you love insurance, then you are probably lying. Usually nobody likes having to pay a monthly premium every month for insurance. Insurance comes in many forms and can protect you if you ever need it. Many people try to get away with not having auto insurance. It can be a heavy burden especially when you are still paying on the car. However it is needed and in some states it is mandated. This article will look at a few ways that you can cut your premium costs and still have a great policy. Just remember it is always better to be safe rather than sorry.
Being young can be a great time in your life. Usually as a student you save on tons of everyday items. However traditionally, car insurance is not one of the things that you will save on. As a whole, teenagers are at a higher risk to wreck. Because of this data, companies charge more if there is a teenager on the policy. Now there is a silver lining. If you get good grades in school and you excel then you might be eligible for auto insurance discounts.
Another way that you might be able to save is if you let your driving be monitored. This can infringe on your passion for driving but it will make you a more conscious driver. Some agencies will put a black box in your car and it will keep a tally of all of your driving habits. If you do well then you can expect better rates.
Do you live in the suburb and commute? If you do then you might be in luck. If you can get together a group and carpool together then you can reap the benefits.
Not only do some employers help carpool groups but you also can score discounts. Not to mention better driving lanes in some cities. Carpooling will also save you on mileage and gas. Oh and it is good for the environment. Do you need any other reasons?
Being with a company for several years can also save you money. For example, if you are a policy holder for the same company you had when you first started driving and even you parents have them, chances are that you will be in for some serious discounts. Companies love loyal customers and they will usually do anything that they can to keep you as loyal to them as possible.
Article Source: http://EzineArticles.com/6783662
Being young can be a great time in your life. Usually as a student you save on tons of everyday items. However traditionally, car insurance is not one of the things that you will save on. As a whole, teenagers are at a higher risk to wreck. Because of this data, companies charge more if there is a teenager on the policy. Now there is a silver lining. If you get good grades in school and you excel then you might be eligible for auto insurance discounts.
Another way that you might be able to save is if you let your driving be monitored. This can infringe on your passion for driving but it will make you a more conscious driver. Some agencies will put a black box in your car and it will keep a tally of all of your driving habits. If you do well then you can expect better rates.
Do you live in the suburb and commute? If you do then you might be in luck. If you can get together a group and carpool together then you can reap the benefits.
Not only do some employers help carpool groups but you also can score discounts. Not to mention better driving lanes in some cities. Carpooling will also save you on mileage and gas. Oh and it is good for the environment. Do you need any other reasons?
Being with a company for several years can also save you money. For example, if you are a policy holder for the same company you had when you first started driving and even you parents have them, chances are that you will be in for some serious discounts. Companies love loyal customers and they will usually do anything that they can to keep you as loyal to them as possible.
Article Source: http://EzineArticles.com/6783662
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