sr22 insurance explained
Reader’s Question:
What is the difference of sr50 and sr22?
Henry
Thank you for asking Henry.
According to the Indiana Bureau of Motor Vehicles (BMV) an SR-50 is a form used by an individual to show proof of current insurance to the Bureau. The sr50 shows the Bureau the beginning and end dates of the current insurance policy.
Basically, SR 50 is a form required by Indiana (and possibly a few other states) to show proof that a person currently has insurance on their motor vehicle.
An SR 22 is a proof of financial responsibility. In Indiana an SR-22 is required three (3) year period if you are mandated to carry and maintain this financial responsibility certificate.An SR 50 is proof of current financial responsibility that your insurance company would send to the state.
Goodluck!
MariCAR