What is a SR22 bond insurance?
Thank you for asking Jean.
Bond insurance is another term used for an SR 22, however in other states it is surety bond or deposit. An SR22 policy is a bond or filing made by an insurance company to your state showing proof that you have at least the state minimum required amount of liability. Usually this is required to verify to the state your financial responsibility when driving a car after getting a citation for a DUI / DWI or driving without insurance.
States require financial responsibility requirements to be met, meaning, you should be able to show proof of financial responsibility for your actions behind the wheel of a car.
Not all states permit for bonds for motor vehicle insurance. It is typically used to show proof of financial responsibility and meet the minimum liability insurance requirements of the state.
Kinda funny video…made me laugh.
Category: SR22 insurance questions