SR-22 insurance is required for an average of three years. While you are considered a “high-risk driver,” this does not mean you should have to overpay for car insurance coverage.
Here are three easy ways to save on your SR-22 insurance:
1. Increase the deductible
The deductible is the amount of money the policyholder is responsible for before the insurance company assumes the rest of the expenses following a car insurance claim. When a deductible is higher the car insurance rates will decrease. This is only a good move if the policyholder has the amount set aside in the event of a claim.
2. Drive a low-risk car
Some cars are less expensive to insure. Car insurance for an older car with a lower theft rate will be less compared to a brand new car. Cars with safety features like side airbags, alarms and GPS systems are more likely to have lower insurance rates.
3. Pay the policy in full
If you can, pay your SR-22 policy in full to save on finance charges.