Studies show that about 13% of drivers in the US drive without auto insurance. Driving without valid insurance is not only illegal but will also subject you to severe consequences in the event of an accident. A third-party insurance coverage is a must-have for every car owner to avoid the financial burden of compensating injured passengers. After an accident, the victims are usually required to get an SR-22 form from their insurance agency. If you are not a car owner, you should not worry since applying for non owners insurance is a simple and straightforward process. Continue reading this article to know when non-owner SR-22 insurance is a necessity.
A new insurance policy that is offered by car insurance providers is non owners insurance. Non-owners insurance is a must-have policy for high-risk drivers. Every driver that doesn’t own a car is considered a high-risk driver. One of the reasons why a non-owner may need this type of insurance is that it is required by law to carry insurance. Besides, if you have rented or borrowed a car, you need to have non owners insurance. Normally, SR-22 insurance is usually expensive as you are considered a high-risk driver. However, you should know that non owners insurance will keep you away from trouble with the law.
Why should one apply for non owners SR-22 insurance? The need for SR-22 insurance is advised in different situations. First and foremost, a non owners insurance is a must-have is you received a citation for driving without insurance. Also, you should file for an SR-22 if you have been charged with a DWI or convicted for driving without insurance. This page highlights more scenarios where one needs to apply for non owners SR-22 insurance. In your efforts to reinstate your driver’s license, you need to have a non owners insurance.
Non owners insurance is cheaper than traditional auto insurance policies. This only applies to drivers who don’t have SR-22. If you have an SR-22, you will pay around 240$ monthly for non owners insurance. In case your insurance policy lapses or your default in making the paying, your driver’s license will be suspended. Nonetheless, you should know that there are a few tips for cutting the cost. Always check the rates of different auto insurance providers to save money on your non owners insurance policy. The cost of non owners insurance offered by the company should be financially sustainable.
Therefore, if you want to remain compliant with the law, you should apply for non-owner SR-22 insurance.
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