What to Know When Applying for an SR-22 Insurance Policy in Chicago IL

by | Mar 27, 2020 | Loan

Having your license suspended can not only hinder you from driving, but it can also keep you from getting decent auto insurance. If you are in the process of regaining, you’re driving privileges, here are some things you should know when shopping for insurance.

Why You Need SR-22?

SR-22 is a special type of insurance that basically holds you financially accountable should you be involved in an automobile accident. When you get an SR-22 insurance policy in Chicago, the insurance company will report to the state if you ever fail to maintain a minimum amount of coverage.

Is SR-22 Expensive

While having to get SR-22 insurance may seem like a huge hassle and a greater punishment, it isn’t really that big of a deal as most people think. Most SR-22 insurance fees may cost around $25, however, because of the initial suspension, you may find that you are paying a higher insurance premium in general.

How Long is SR-22 Required?

While the timeframe can vary, typically the average requirement for having SR-22 insurance is around 3 years. This will depend on the reason for your suspension and what decisions the court made when it came to your reinstatement requirements.

Getting an SR-22 insurance policy in Chicago doesn’t have to be a stressful thing as there are many companies that offer it at an affordable price. Just make sure you are comparing rates, as well as general information before you jump into any contracts.

For more information, visit Illinois Automobile Insurance Agency at website.

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