SR22 insurance, as its commonly called, is not actually a type of Florida auto insurance. Explained in a few words, SR22 is simply a document (form) which is used by auto insurance companies to prove that an individual is compliment with the minimum limits of liability required.
SR22 form is filed by your auto insurance company to the Florida’s Bureau of Financial Responsibility, in case of course you are required to file such confirmation of liability insurance. Driving under the influence, too many points on your license for traffic violations, driving without insurance are valid reason for you to be required to submit SR22 Form.
The insurance law in Florida (No Fault) indicates that the minimum requirements for a car insurance policy are $10,000 of Property Damage Liability and $10,000 of Personal Injury Protection. For SR22 Insurance, Bodily Injury Liability (BIL) is added on top of the minimum requirements. In Florida, SR22 will require minimum BIL limits of $10,000 per person and $20,000 per accident. The SR22 requirement can also be fulfilled with a single limit of liability – $30,000.
The amount you will pay for BIL will be the same regardless of the fact that you are required to file a SR22 form. A $15 filing fee is the only additional cost for you.
Bare in mind that, if SR22 form filing is required your insurance premiums will go up. Its not because of the SR22 form, but rather because of the reasons already mentioned – DUI, too many points on your license for traffic violations, driving uninsured.
If you don’t comply with the law, your driver’s license and or vehicle license plate will be suspended. If this happens, you will have to pay reinstatement fees in addition to the filling fee.