What You Should Know About Timeframe And Lapses With SR-22 Insurance

11 November 2021
 Categories: , Blog

Did you recently find out that you are required to buy SR-22 insurance because of your driving record? If you discovered that you need this, you will need to start searching for a plan now, as you will not have a lot of time to buy the policy. As you prepare for this event, you might benefit by understanding a few things about timeframes and lapses with SR-22 insurance. Here are some of the main things to know about it.

You Have a Deadline to Buy It

The first vital thing to know is that you have a deadline to buy the policy. The letter that states you need the coverage also states the due date. You might have less than one month to get your plan, so you should not hesitate. It might take calling around to find a company that offers it, as some companies do, but others do not. You must have the policy in place prior to the deadline or you could face some consequences.

You Need to Keep It for the Required Timeframe

The next thing to know is that you must keep an active policy for the entire timeframe that you need the SR-22 insurance coverage. In most cases, the timeframe is three years. You could need it for less, though. Others might need the coverage longer. You might need it for three years initially, but they could extend it if you experience more traffic violations while you currently have a plan.

As you consider the timeframe you need, there is another important detail to consider. You cannot buy a plan for one year, skip a month, and then buy it for another two years to meet the deadline. You must keep it the entire time.

You Cannot Have a Lapse

The third thing to know touches on the point from above. You cannot let your policy lapse. If you decide to use a different insurance company after a few months, you can, but you must handle the transfer correctly. You must purchase the new plan before canceling the existing one. If you allow a lapse to occur, you must start the timeframe over. You can also face other consequences if you allow a lapse in your coverage.

If you have questions about SR-22 insurance, talk to an insurance agent. An agent can answer your questions and help you find the right plan for your needs.

For more information on SR-22 insurance, contact a company like Bill Blake Auto Insurance.