Will SR22 Insurance Cover a Hit & Run Accident?
The SR-22 is a certificate that opens the doors of communication between your insurance carrier and the state's division of transportation or department of motor vehicles. The SR-22 is not an insurance policy, but rather a certificate that is attached to your insurance policy. The SR-22 certifies that you maintain, at least, the minimum auto insurance liability required by the state.
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What is an SR-22?
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An SR-22 is also called a Certificate of Financial Responsibility (CFR), certificate of insurance, SR-22 bond or filing. Only individuals who have received notification from the state require an SR-22 certificate. Once in place, your insurance carrier will notify the state that you are compliant with the state's insurance regulations. If your insurance policy cancels, your insurance carrier will notify the state that you are no longer compliant with the state's insurance regulations. In most cases, your auto insurance carrier will charge a nominal filing fee for the SR-22 processing.
Is The Hit-and-Run Covered?
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If you are involved in a hit-and-run accident, the SR-22 is not the portion of the policy that will cover the damages. If you are the victim of a hit-and-run accident, your policy's uninsured motorist, uninsured motorist property damage, personal injury protection, medical payment coverages and collision coverage, or a combination thereof, will insure your injuries and damages, as well as those of your passengers. An active SR-22 does not mean that you have the right coverage to protect you from a hit-and-run accident. It is important that you review your policy coverages and needs with your insurance representative to ensure adequate protection. Only 16 states require drivers to carry personal injury protection.
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Negligence
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If you cause an accident and flee the scene, your bodily injury and property damage coverages will reimburse the other party's expenses. However, in these cases, your insurance carrier reserves the right to deny your claims for injuries and damages. While each state's regulations vary, most states and insurance carriers exclude coverage for claims in which the policyholder has intentionally or unlawfully caused damages or injuries.
Noncompliance
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Once the state issues an SR-22 requirement, drivers are required to maintain the certificate in order to maintain their privileges. Drivers who fail to maintain continuous financial responsibility while under an SR-22 will have their driving and registration privileges suspended, if not revoked.
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