In the state of Illinois, all drivers must have liability insurance in minimum amounts set forth by law. In certain situations, the state may require drivers to acquire a specific type of high risk liability insurance. The certificate that proves the policy exists is informally called SR22. The "SR" stands for Safety and Responsibility, and the insurance is meant to compel high risk drivers to get insured and to stay insured. Additionally, the SR22 statement provides easy to document proof that a potentially high risk driver is insured.
Drivers Needing SR22 Certificates
The drivers ordered to obtain SR22 may include those with nearly any violation, but in general the violation will be insurance violations or driving violations. Another common situation that would result in an SR22 order would be a DUI or DWI charge.
The Required Amounts of SR22 in Chicago Insurance
To obtain a SR22 certificate you must get certain amounts of liability insurance that are specified by Illinois law. These amounts are: $20,000 per person in bodily injury (no one person can receive more than $20,000 in bodily injury in this policy,) $40,000 in total per accident bodily injury (this $40,000 figure includes any number of people involved in the accident, the money would be awarded among injured persons until the limit is hit,) $15,000 per accident in total property damages (the $15,000 limit applies no matter how many different people experienced property damage in the accident, it would be divided among all qualifying recipients.)
Defining SR22 Certificates in Chicago
SR22 in Chicago is a certificate. The certificate is not generated by the insurance company, and is not actually insurance itself. Rather, the SR22 certificate is proof that the policy is in existence. The insurance for the individual holding the SR22 certificate is provided by an insurance company, typically one that specializes in insuring hard to insure people. Once the insurance is paid for, the insurance provider will send a formal request to the Illinois Secretary of State, asking that a SR22 certificate is generated for the individual being insured. After a processing period, the SR22 certificate will be saved on file with the Secretary of State and copies will be provided to the insured party and to the insurance provider.
Determining the SR22 Policy Insurance Premium Payment Amounts
The factors that help determine the premiums on an SR22 in Chicago type of policy are often the very same ones that would help determine the premium amounts on any insurance policy. With SR22, since the drivers are already perceived to be higher risk, these factors may be given even more weight. The primary factors that may help determine the premiums for SR22 policies can include any or all of the following: Whether the driver is married or single (married drivers often get lower premiums,) the amount of past driving offenses (aside from the offense that triggered the SR22 order,) the amount of miles driven weekly (generally driving less miles on average means lower premiums,) the exact location within Chicago where the car is driven and stored (certain areas are higher risk and may result in higher premiums,) and the credit rating of the driver. In general, an SR22 certificate will automatically equate to higher premiums, simply because SR22 certificate insurance is ordered in situations where the state of Illinois determines that a driver is potentially dangerous to themselves and to others while they are on the road.
Maintaining SR22 in Chicago
SR22 certificates must be consistently maintained for three full years according to Illinois law. If you are initially accused of fault in a vehicular accident that you were later determined not to be at fault for, this rule does not apply to you and you can terminate the SR22 certificate early when the SR22 is rescinded.
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