What Is a SR-26 Insurance Form?
While it's mandatory that all drivers be insured, only problem drivers are required to file proof of their insurance with the state. These are usually individuals who've been convicted of DUI or cited for driving without insurance. SR-22 and SR-26 forms are the means by which an insurance company formally communicates the status of an auto insurance policy with the appropriate agency of the state.
Other People Are Reading
-
Function
-
Whereas the SR-22 is the form used to confirm the existence of a valid insurance policy meeting the state's minimum requirements, the SR-26 is the form used to indicate the insurance has lapsed or not been paid. Whereas the insured has to request the filing of an SR-22, the insurance is obligated by law to file the SR-26 if insurance coverage is interrupted.
Features
-
The requirement to maintain proof of insurance with the state usually applies for a 2 or 3 year period. The SR-22 form will describe the type or types of insurance coverage provided and the limits of coverage, and it will identify the duration of the auto insurance policy as it exists at the time of filing. The form itself may have to be renewed periodically. The SR-26 form simply states that the insurance has expired, but insurance companies in some states are obliged to file if the insurance policy has not been renewed within 2 weeks of expiration.
-
Effects
-
The filing of an SR-26 will virtually guarantee the suspension of the driver's license. If other conditions have been attached to the insurance requirement--such as may be the case for an individual on probation--there may be other consequences. If an SR-26 is filed, the driver will have to again satisfy the insurance requirements of the state and request the filing of a new SR-22.
Types
-
The auto insurance laws and minimum requirements vary widely by state. In order to obtain an SR-22 and avoid an SR-26, most states provide several options, including the direct deposit of funds with the state, the filing of a surety bond underwritten by a third party, or the filing of a real estate bond which puts up a house as collateral against any claims for damages resulting from an auto accident. The most popular option, however, is simply to maintain a minimal insurance policy through a reputable carrier.
Considerations
-
Moving out of state may eliminate the SR-22 insurance requirement. However, if not notified, the insurance company will file an SR-26 if the insurance lapses, and this could limit an individual's ability to obtain a driver's license in the state where the form is filed. To avoid this situation, some states allow the filing of an affidavit requesting that the SR-22 requirements be waived due to no longer residing in the state.
-
Resources
- Photo Credit Ervin Pospisil (GNU 1.2)
