SR-50 Car Insurance (Compare Quotes)
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UPDATED: Jul 30, 2021
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- SR-50 is a high-risk driver certification in Indiana
- Your SR-50 status can increase your car insurance rates
- Indiana drivers who are uninsured could have their license suspended
Did you know Indiana doesn’t have SR-22? Indiana has a high-risk driver program known as the Affidavit of Current Insurance. But what is SR-50 insurance, and how does it work?
Read through this article to learn more about SR-50 auto insurance and why you need it. We’ll also show you how to get high-risk car insurance.
Once you learn everything about SR-50 car insurance requirements, enter your ZIP code in the free comparison tool above to compare the top companies near you.
How much are SR-50 car insurance rates?
While it’s unlikely that you’ll have SR-50 car insurance quotes, your car insurance rates are affected by your SR-50 status.
Many factors determine whether affordable SR-50 car insurance is available to you. One of the main factors is driving history. When you have SR-50, you are considered a high-risk driver, and your rates could resemble costs under accident and DUI categories.
While it’s difficult to pinpoint an exact price, we can give you an idea of what SR-50 auto insurance rates would look like:
|Companies||Average Monthly Car Insurance Rates w/ Clean Record||Average Monthly Car Insurance Rates w/ One Moving Violation||Average Monthly Car Insurance Rates w/ One Accident||Average Monthly Car Insurance Rates w/ One DUI/DWI|
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These rates are only averages. You can lower your car insurance rates with discounts. If you happen to have good credit or more than one insurance policy, you can save a few dollars per month on SR-50 auto insurance.
How does SR-50 car insurance work?
SR-50 auto insurance isn’t insurance. It’s labeled SR-50 car insurance because car insurance companies file SR-50 forms for drivers in Indiana.
The SR-50 program is known as the Affidavit of Current Insurance.
It’s a certification that your auto insurance company submits to the Indiana Bureau of Motor Vehicles (BMV) that says a driver carries the minimum auto insurance requirements to have their license reinstated after a major accident or DUI.
Here are the current Indiana car insurance requirements:
- $25,000 for bodily injury of one person per accident
- $50,000 for bodily injury of multiple people per accident
- $25,000 for property damage per accident
Once you have the minimum auto insurance requirements, your auto insurance company sends over the SR-50 form to the Indiana BMV.
Why do I need SR-50 attached to my car insurance?
If you’re required to carry SR-50 insurance in Indiana, then you recently lost your license. To reinstate it, your insurance company must file an SR-50 with the BMV.
There are a few reasons why high-risk drivers in Indiana need SR-50 certification. Here are some common reasons why you’ll need SR-50:
- The Indiana BMV received a report of an accident you were involved in
- You’ve had more than two moving violations within a year
- Your last driving violation resulted in a misdemeanor or felony conviction
- You’re convicted of a moving violation while your driver’s license is currently suspended for driving uninsured
If you have a suspended driver’s license because you were driving without car insurance, you’d have to pay between $150 and $300 to reinstate your driver’s license.
What’s the difference between SR-50 and SR-22?
SR-50 and SR-22 are similar, but what is SR-22 insurance?
The difference between SR-22 and SR-50 is that SR-50 shows proof that you currently have car insurance. Meanwhile, SR-22 proves that you have current and future insurance.
There’s also a difference in terms. SR-50 doesn’t provide a term limit, but SR-22 lasts for at least two years.
SR-22 also comes with a fee that’s between $15 and $50. The cost depends on the state and your driving history.
SR-50 Car Insurance: What’s the bottom line?
If you’ve been in an accident, got a DUI conviction, or have a suspended license in Indiana, you’ll need SR-50.
Although it’s difficult to secure cheap car insurance with SR-50, it’s better to have the coverage you need rather than remaining uninsured.
Before you buy SR-50 car insurance, use our free online quote tool below to shop with multiple companies in your area.
Frequently Asked Questions: What is SR-50 car insurance?
Want to know more? Here are a couple of answers to frequently asked questions.
#1 – What is a non-pointable violation in Indiana?
Non-pointable violations are non-moving violations, such as illegal parking, that don’t apply points to your license.
#2 – Why do car insurance companies recommend a higher coverage level for high-risk drivers?
SR-50 certified drivers are at a higher risk of causing more expensive bodily injury and property damage. Therefore, it’s recommended that SR-50 drivers invest in higher coverage limits and possibly save themselves from out-of-pocket costs.
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