SR22 Insurance in Chicago:
Do you need cheap SR22 insurance in Chicago Illinois, just don’t know where to go? Look no further, by filling out our Chicago SR22 insurance quotes form we will be able to get you the best possible price in city of Chicago. In Chicago Illinois the SR22 insurance certificate is used to monitor high risk drivers, such as people with a DUI or multiple accidents and is often referred to as the certificate of financial responsibility.
There are two types of SR22 forms:
• The certificate that provides financial responsibility for the driver who does not own the vehicle.
• The certificate that provides financial responsibility for the driver who owns the vehicle.
• The certificate that provides financial responsibility for the driver who may or may not own the vehicle.
The SR22 is required in situations where:
• The driver had what is known as safety responsibility suspensions – for example, he was cited as an uninsured motorist, and was delinquent on fines imposed on him for the injury and damage he caused.
• The driver has a suspended license because of unpaid judgments on his driving record.
• The driver’s license was revoked.
• The driver is subject to mandatory insurance supervisions.
• The driver has more than 3 violations for lack of mandatory insurance.
The steps in the filing for the SR22 in Chicago occur as follows:
• The driver will first contact a state-licensed auto insurance company to request an SR22.
• The driver pays the company its processing fee; the amount of this fee will vary with the company, so the driver will do well to shop around for the best quote.
• The driver must purchase at least the minimum insurance coverage required by Chicago law; these minimums are, $20,000 for the injury or death of 1 person, $40,000 for the injury or death of 2 or more persons, and property damage for $15,000.
• When the insurance company receives the request for the SR22, it will send the request to the central office which in turn sends the SR22 to Secretary of State within 30 days.
• When and if the request is accepted, the driver will receive an SR22 from the insurance company.
• The driver is obligated to maintain the SR22 for at least 3 years. If he fails to renew the certificate no later than fifteen days prior to its expiration, the insurance company will notify the State and his driver’s license will be suspended until he reinstates the SR22 insurance.
In Chicago, a driver has the option of depositing $55,000 in securities or in cash with State Treasurer instead of the SR22. Also, the driver has another option of filing a surety bond and even real estate bond that has been approved by court of record.