Finding out that you must carry a Certificate of Financial Responsibility, also known as an SR-22, can deliver a swift blow to both your ego and your wallet. You were probably told that you must purchase an SR-22 because you incurred a traffic violation that in some way signified a lack of responsibility. Maybe you were accused of driving under the influence (DUI) or went too long without buying automobile insurance and managed to get into an accident while you were uninsured. Whatever the reason, you must now maintain SR-22 insurance for a significant period of time. Check out two tips you can use to get SR-22 insurance without breaking the bank.
Get The Highest Deductible That You Can Painlessly Afford
Before you had to get SR-22 insurance, you may have proudly sported a very low deductible. It's great to have an affordable deductible because if you do have a car-related incident you probably find it much easier to come up with such a small amount of money on the fly.
However, things change when you purchase the SR-22. You're now considered a high-risk driver, and this puts you into dangerous financial territory. Your car insurance premium is likely to increase by leaps and bounds. The best thing you can do is set aside enough money to cover a higher deductible. This might take a week or a month for you to do but raising your deductible with the insurance company is almost guaranteed to make your premium go down quite substantially.
Proactively Ask About Discounts
When you receive a quote for auto insurance the number you are given is based around many different factors. The type of car you drive, how many accidents you've been in, your zip code, and even your credit score are all part of the mysterious algorithm that makes up your premium.
Don't take this figure lying down. Make it a point to contact your insurance representative and go through every possible discount that is being offered. Who knows, there could be some obscure discounts that you qualify for which will make all of the difference in the world.
Getting SR-22 insurance doesn't have to spell the end for you. There is sure to be an end date, and if you are very careful while you have the SR-22 you might find that you're able to walk away from the experience with more knowledge and eligibility for a lower insurance rate than you've ever enjoyed before.