By

John Davey

Updated

November 8, 2023

Edited By

Fausto Bucheli Jr
car wheel and tire being washed
image credit - Karolina Grabowska

If you need SR-22 insurance, you know that it can be expensive. But it doesn’t have to be. By comparing quotes from multiple companies, you can find the best deal on SR-22 insurance.

In this article CheapInsurance.com takes a look at how to compare SR-22 Quotes to find the best value, and great coverage.

Key Takeaways:

  • Shop around and compare quotes from multiple companies before you purchase a policy.
  • Be sure to compare the coverage levels, price, deductible, discounts, and financial stability and customer service reputation of each company.
  • Don’t be afraid to negotiate with insurance companies to get the best rate.
  • Maintain a good driving record, raise your deductible, and bundle your policies to reduce the cost of your SR-22 insurance.
  • If you can’t find an affordable SR-22 insurance policy, contact your state’s insurance regulator, the NAIC, or a high-risk insurance company for help.

What is an SR-22 insurance quote?

An SR-22 insurance quote is an estimate of how much you will pay for SR-22 insurance. Insurance companies use a variety of factors to determine your quote, including your driving history, vehicle type, and location.

Why is it important to compare SR-22 insurance quotes?

SR-22 insurance can be expensive, so it’s important to compare quotes from multiple companies to find the best deal. You may be surprised at how much the quotes can vary from company to company.

What factors affect the cost of SR-22 insurance quotes?

A number of factors can affect the cost of SR-22 insurance quotes, including:

  • Driving history: Drivers with a poor driving history, such as a DUI or multiple traffic violations, will typically pay higher rates for SR-22 insurance.
  • Vehicle type: More expensive vehicles typically cost more to insure, including for SR-22 coverage.
  • Location: Drivers who live in areas with high rates of accidents and theft will typically pay higher rates for SR-22 insurance.

How to get SR-22 insurance quotes from multiple companies

There are a few different ways to get SR-22 insurance quotes from multiple companies:

  • Online: Many insurance companies offer online quote tools. Simply enter your information and the companies will provide you with quotes.
  • Phone: You can also call insurance companies to get quotes. Be sure to get quotes from multiple companies to compare rates.
  • Independent insurance agent: An independent insurance agent can help you compare quotes from multiple companies.

How to compare SR-22 insurance quotes

When comparing SR-22 insurance quotes, be sure to compare the following:

  • Coverage levels: Make sure that all of the quotes you are comparing offer the same coverage levels.
  • Price: Compare the prices of the quotes.
  • Deductible: Compare the¬†deductibles¬†of the quotes. A higher deductible will lower your monthly premium, but you will have to pay more out of pocket if you need to file a claim.
  • Discounts: Ask about discounts, such as good driver discounts and multi-policy discounts.
  • Financial stability: Make sure that the insurance company you choose is financially stable. You can check the financial stability of insurance companies by visiting websites such as AM Best and Fitch Ratings.
  • Customer service: Read reviews of the insurance companies you are considering to get an idea of their customer service reputation.

Tips for finding the best SR-22 insurance deal

Here are some tips for finding the best SR-22 insurance deal:

  • Shop around: Get quotes from multiple companies before you purchase a policy.
  • Ask about discounts: Many insurance companies offer¬†discounts¬†for good drivers, multi-policy holders, and military members.
  • Consider raising your deductible: A higher¬†deductible¬†will lower your monthly premium.
  • Bundle your policies: If you have other insurance policies, such as homeowners insurance or renters insurance, you may be able to save money by bundling them with your SR-22 insurance.
  • Maintain a good driving record: The better¬†your driving record, the lower your SR-22 insurance rates will be.
comparing sr22 quotes on cell phones
image credit - Karolina Grabowska

What are some common mistakes to avoid when comparing SR-22 insurance quotes?

  • Not¬†comparing quotes¬†from multiple companies: This is the biggest mistake you can make. Be sure to compare quotes from multiple companies to find the best deal.
  • Not reading the fine print: Make sure you understand the coverage levels and exclusions of each policy before you purchase it.
  • Choosing a policy based on price alone: Don’t just choose the cheapest policy. Make sure you are getting the coverage you need at a price you can afford.
  • Not asking about discounts: Be sure to ask about discounts, such as good driver discounts and multi-policy discounts.
  • Not choosing a financially stable insurance company: Make sure the insurance company you choose is financially stable. You can check the financial stability of insurance companies by visiting websites such as AM Best and Fitch Ratings.

What are some things to ask SR-22 insurance companies before purchasing a policy?

  • What coverage levels are included in the policy?
  • What are the exclusions to the policy?
  • What is the deductible for the policy?
  • Are there any discounts available for good drivers, multi-policy holders, or military members?
  • What is the financial stability rating of the insurance company?
  • What is the customer service reputation of the insurance company?
  • How long¬†will I be required to carry SR-22 insurance?

How can I negotiate my SR-22 insurance rate?

There are a few things you can do to negotiate your SR-22 insurance rate:

  • Shop around and compare quotes from multiple companies. This will give you leverage when negotiating with insurance companies.
  • Ask about discounts. Many insurance companies offer discounts for good drivers, multi-policy holders, and military members.
  • Be willing to negotiate. Don’t be afraid to ask the insurance company for a better rate.

What are some ways to reduce the cost of my SR-22 insurance?

There are a few things you can do to reduce the cost of your SR-22 insurance:

  • Maintain a good driving record. The better your driving record, the lower your SR-22 insurance rates will be.
  • Raise your deductible. A higher deductible will lower your monthly premium.
  • Bundle your policies. If you have other insurance policies, such as homeowners insurance or renters insurance, you may be able to save money by bundling them with your SR-22 insurance.
  • Shop around and compare quotes from multiple companies. This will give you the best chance of finding the lowest rate.

What are the five lowest cost states for SR-22?

The five lowest cost states for SR-22 are:

  1. Maine
    $300-$600 per year
    Source: ValuePenguin

  2. Vermont
    $400-$800 per year
    Source: Insurance.com

  3. New Hampshire
    $450-$900 per year
    Source: NerdWallet

  4. North Carolina
    $500-$1,000 per year
    Source: The Zebra

  5. South Carolina
    $550-$1,100 per year
    Source: Bankrate 

It is important to note that these are just averages, and your actual rates may vary depending on your individual factors such as driving history, vehicle type, and location. It is always best to compare quotes from multiple companies to find the best deal.

What are the five most expensive states for SR-22?

The five most expensive states for SR-22 are:

  1. Michigan
    $1,500-$3,000 per year
    Source: ValuePenguin

  2. California
    $2,000-$4,000 per year
    Source: Insurance.com 

  3. New York
    $2,500-$5,000 per year
    Source: NerdWallet

  4. Florida
    $3,000-$6,000 per year
    Source: The Zebra 

  5. Illinois
    $3,500-$7,000 per year
    Source: Bankrate

It is important to note that these are just averages, and your actual rates may vary depending on your individual factors such as driving history, vehicle type, and location. It is always best to compare quotes from multiple companies to find the best deal.

What should I do if I can’t find an affordable SR-22 insurance policy?

If you can’t find an affordable SR-22 insurance policy, you may be able to get help from the following organizations:

  • Your state’s insurance regulator: The insurance regulator in your state can help you find affordable SR-22 insurance.
  • The National Association of Insurance Commissioners (NAIC):¬†The NAIC¬†is a non-profit organization that represents state insurance regulators. The NAIC can help you find affordable SR-22 insurance in your state.
  • High-risk insurance companies: High-risk insurance companies specialize in providing insurance to people with poor driving records. High-risk insurance companies may be able to offer you a more affordable SR-22 insurance policy.