Philadelphia, PA - The USA is seeing auto insurance inflation, and Pennsylvania is not protected from those rises in car insurance premiums. Indeed, as CNBC highlighted a 5% overall climb in car insurance, Bankrate also highlights an average car insurance rate in Philadelphia of $3,300 - one of the highest rates anywhere in the country. Where the average driver's insurance rate goes up, high-risk categories surge - including the SR22 insurance rate. It's important drivers can find a way to pay affordable auto insurance rates, including those subject to SR22 insurance rates, and a few ways forward are being carved out.
Understanding SR-22 Insurance
SR22 insurance isn’t only for drivers who’ve had a DUI added to their record by the state Bureau of Motor Vehicles. It can be for something as simple as a lapse in car insurance coverage - not something to be thought of as uncommon with insurance premium increases. However, it can make the situation more difficult. According to WFMZ, liability insurance rates are sometimes so high that car insurance companies will refuse to cover an SR22 driver. Given the broad strokes that create an SR22 insurance situation, this can be unfair. As a result of this, a more granular approach is being advocated by bodies across the state.
SR22 insurance is typically mandated for a three-year period. After this time, the SR-22 filing can come off the record, and the driver can once again enjoy more preferable car insurance premium rates. However, there is flexibility in some states. Some require only two years of SR22 coverage, whereas others demand up to five. This is something that the lawmakers in the state of Pennsylvania could bear in mind - flexibility on the duration of the SR-22 period on a case-by-case basis.
In addition to increasing car insurance premiums due to perceived risk, SR22 insurance also brings with it filing costs and other onward liability for the driver. Indeed, according to Credit Karma, shopping around to look for the most fact-sensitive and progressive insurance companies can lead to significant filing cost savings in addition to a more fine approach to looking at the history of the driver’s license and offering an auto insurance premium to suit.
It’s a bit of a battle to get good value out of the car insurance market right now - it’s a fact of life that inflation makes driving a more expensive pursuit. For SR22 insurance applicants, that situation is made even more difficult. The market does provide, however, and with a fine approach to shopping for car insurance premiums, some gains can be made.