Minnesota SR-22 Insurance Explained

Whether you live in the Twin Cities or go about your daily adventures in one of the many suburban cities of the North Star State, all drivers with vehicles registered in the state must have a Minnesota auto insurance policy. Those who fail to carry an adequate policy risk needing SR-22 insurance.

Let’s check out some more details about SR-22s, how to get a policy with the form on your record, and other nuances drivers may want to know about the document. 

Minnesota requires all drivers with vehicles registered in the state to maintain a minimum amount of coverage at all times. Those caught without a minimum coverage policy, or those who commit other serious traffic infractions like reckless driving or driving under the influence, may have their licenses and registrations revoked. Drivers who have their documents revoked will require an SR-22 to be filed on their behalf when they reinstate them. 

It’s important to note early on that SR-22 insurance isn’t actually an insurance policy or coverage but rather a form an insurer will file on behalf of a high-risk driver to certify they have an active and adequate auto insurance policy.

Auto insurance laws in the North Star State require drivers to have at least $30,000 in bodily injury liability per person, $60,000 in bodily injury liability per accident, $10,000 in property damage liability per accident (30/60/10), $25,000 in uninsured and underinsured motorist bodily injury coverage (UMBI/UIMBI) per person, $50,000 in UMBI/UIMBI per accident (25/50 UMBI/UIMBI), and $40,000 in personal injury protection (PIP) since the state is a no-fault state. Drivers who lease or finance their cars may need collision and comprehensive coverage on their policies. 

While driving without insurance in the state may land drivers an SR-22, they may face other legal penalties for the crime, like fines, license and registration suspension, or even jail time, depending on the frequency and severity of the crime. 

Failure to comply with the terms of one’s SR-22 may also result in legal consequences, possibly even jail time. Those with an SR-22 on file are monitored to ensure they keep up with the demands of their policy and pay their premiums on time.

While a minimum coverage policy is perfectly legal and may be adequate for some drivers, others may prefer a bit more coverage, especially those with a history of at-fault accidents. Full coverage policies are far more expansive than those with minimum coverage, but they can be far more expensive, too. High-risk drivers often pay double or triple the average cost of insurance in the state, which is about $1,550 for a full coverage policy in Minnesota. 

However, full coverage policies allow policyholders to build their policies to their needs. A full coverage policy in the North Star State will have higher limits of liability, UMBI/UIMBI, and PIP coverages than what’s legally necessary. It may also include optional coverages like collision coverage, gap coverage, and comprehensive coverage, among others. While they may be more expensive, full coverage policies are far easier to budget for than catastrophic accidents with insufficient coverage. 

SR-22 insurance in Minnesota isn’t actually a type of auto insurance or coverage but rather a form insurers file on behalf of a high-risk driver so they may reinstate their suspended license or registration. The form certifies with the state that the high-risk driver maintains an active and adequate auto insurance policy. 

Should a driver fail to pay their premium on time or cause another traffic incident, the terms of the SR-22 may become more serious. Filing for an SR-22 can cause one’s premiums to increase significantly. When determining one’s rates, insurers look at many factors that may indicate a driver’s risk of filing a claim. 

If a driver is at high risk of filing a claim because they have an SR-22 on file or for other reasons like their gender, age, or ZIP code, insurers may charge them higher-than-average premiums to compensate for this risk.

While drivers with an SR-22 on file may struggle to bind the cheapest policy in the state, finding an affordable rate still may be possible. Many of the state’s top insurers offer policies with below-average base rates and a range of stackable discounts. 

Drivers must maintain an SR-22 in Minnesota for about three years. During those three years, drivers can’t let their car insurance policy lapse or fail to pay a premium, lest they risk having their license and registration suspended again. 

Filing for an SR-22 isn’t expensive, but many drivers see a dramatic increase in their premiums as they’re categorized as high-risk drivers by most insurers with such a document on their record. However, it’s crucial to note that insurance premiums ebb and flow over time and generally even out to the average rate for drivers who maintain sufficient coverage and make good choices behind the wheel long-term.

The easiest way to find the policy that best suits your auto insurance needs is to gather Minnesota SR-22 insurance quotes online. Getting and comparing quotes online can help drivers make important decisions about their policies to get the best bang for their buck.

If you’re interested in getting quotes for cheap SR-22 insurance in Minnesota, you’re in luck. Here at Clovered, we have a free quoting tool you can use in minutes so you can get your quotes and get back to watching the Vikings game. If you prefer to chat with a professional, you can contact one of our licensed agents at 833-255-4117 or [email protected].