What Is SR-22 Insurance in New Hampshire?

SR-22 insurance isn’t actually a type of coverage or a policy but rather a form an insurer files on behalf of a high-risk driver to certify with the state that they have an active and adequate car insurance policy to help them maintain financial responsibility in an accident. Let’s check out what it means to have an SR-22 in the Granite State, the requirements for those with one, and other helpful information about SR-22 insurance in New Hampshire.

It’s essential to know that an SR-22 isn’t a type of coverage or car insurance in New Hampshire but rather a legal document. An insurer files the form on behalf of a policyholder who has had their license or registration revoked or suspended. The form is filed to certify with the state that the driver has an active and adequate car insurance policy and is required upon reinstating one’s license and registration. 

An SR-22 on file proves to the state that the driver is paying their insurance premiums on time and will take financial responsibility should they get into an accident. Typically, those who commit a serious traffic violation, like driving without insurance if you require it or driving otherwise recklessly. 

Residents of the Granite State who require a car insurance policy must have one that meets the state’s minimum coverage requirements. A minimum coverage policy in New Hampshire will contain $25,000 in bodily injury liability coverage per person, $50,000 in bodily injury liability per accident, $25,000 in property damage liability per accident (25/50/25 liability coverage), $25,000 in uninsured or underinsured motorist bodily injury coverage (UMBI/UIMBI) per person, $50,000 in UMBI/UIMBI coverage per accident (25/50 UMBI/UIMBI), and $1,000 in medical payments coverage or MedPay. Those who lease or finance their vehicles may require full coverage policies with collision and comprehensive coverages as a stipulation of their legally binding contracts.

Failing to maintain a minimum coverage policy with an SR-22 on file can result in severe consequences. The penalties for driving illegally uninsured can include fines, fees, and license and registration suspension.  

Drivers in New Hampshire with high-risk insurance will likely require an SR-22 to verify with the state that they have an active and adequate car insurance policy and are willing to admit financial responsibility for expenses they incur in an accident. Typically, drivers who require an SR-22 form will need the document on file for about three years. Thus, they must also maintain an active and sufficient auto insurance policy for three years. 

The requirements for an SR-22 form may differ based on the frequency and severity of the offense. While drivers have an SR-22 form on file in the Granite State, they must have an auto insurance policy with at least 25/50/25 liability coverage, 25/50 UMBI/UIMBI coverage, and $1,000 in MedPay. If a driver with an SR-22 on file accidentally has a lapse in coverage, cannot maintain financial responsibility in an accident, or commits another driving infraction that leads to license and registration suspension or revocation, the SR-22 period may restart, and the subsequent period may be longer than the first. 

SR-22 insurance in New Hampshire can get pretty pricey, even though the form itself isn’t too expensive. On average, it costs about $25 to file an SR-22 form, but the spending doesn’t stop there. Those requiring an SR-22 form may find their premiums far more expensive than the state average.

The average cost of a full coverage policy in New Hampshire is about $1,210 annually for a driver with a clean record. However, drivers with an SR-22 on file or those considered high-risk may pay double or triple the average amount. 

Premiums generally differ based on the insurer, policy, and driver but will remain in the same ballpark of the state average. Insurers use several unique factors about each driver when determining premiums to assess the driver’s risk of filing a claim. Insurers may use factors like one’s insurance history, driving record, age, gender, and ZIP code, among several other factors, to calculate one’s premiums. If any of these factors indicates that a driver is at higher-than-average risk of filing a claim, an insurer will likely charge them higher premiums.

It’s essential to keep in mind, though, that premiums ebb and flow. It can be difficult for a driver with a poor driving record or an SR-22 on file to get a cheap policy from one of the top insurers in the state. Still, it won’t remain that way forever. Luckily, with just a bit of research, lowering your premiums can actually be pretty easy.

In New Hampshire, SR-22 insurance can get pretty expensive, especially for drivers who are considered high-risk for a while. The cheapest policy someone with an SR-22 can get is a minimum coverage policy that only has 25/50/25 liability coverage, 25/50 UMBI/UIMBI, and $1,000 in MedPay. The average full coverage premium in the state costs about $1,210 annually. Since a minimum coverage policy has about half the coverage, it averages at about half the cost or around $600 annually. 

A minimum coverage policy is often the cheapest policy in the state for anyone, but it won’t always be the safest. Having a policy with premiums you can afford is always a top priority. Still, many drivers find room in their budgets for a full coverage policy, as it’s a much better investment.

Those with minimum coverage policies in the Granite State will have minimal insurance benefits for their expenses. Drivers with minimum coverage policies must carry liability coverage to cover the victim’s expenses in an at-fault accident, UMBI/UIMBI coverage to cover their own expenses should they be injured in an accident caused by an uninsured driver, and only $1,000 in MedPay to cover their medical expenses regardless of who as at fault in the accident. Thus, drivers with minimum coverage policies are out of luck in any other accident scenario or if the costs exceed their coverage limits.

While full coverage policies can get expensive, especially for policyholders with an SR-22 on file or considered high-risk drivers, the investment in one’s safety is often worth the weekly coffee that must be sacrificed to make room in one’s budget. Plus, many insurers in the state offer full coverage policies with lower-than-average base rates and plenty of opportunities to stack discounts to lower one’s premiums even further.

Discounts are one of the best ways for policyholders to lower their premiums because they don’t involve a sacrifice in coverage. Typically, insurers offer two types of discounts: criteria-based and enrollment-based. While criteria-based discounts only require policyholders to meet a set of standards, enrollment-based discounts require policyholders to play an active role in their savings.

Insurers commonly offer criteria-based discounts like a multi-car discount, an anti-theft device discount, a student discount, or a bundling discount. Conversely, insurers may also offer enrollment-based discounts like a pay-per-mile discount for those who drive fewer than 12,000 miles annually or a usage-based discount that requires policyholders to use a telematics device to track their driving.

If you’re in need of a policy while an SR-22 is active on your file, the best way to see your policy options is to get and compare quotes online. By getting and comparing quotes, drivers can build their policies to meet their unique needs and choose the one that fits their lifestyle and budget the best.

Lucky for you, we’re quoting experts here at Clovered. We even have a free quoting tool you can use to find the best policy for your needs in minutes. If you prefer to chat with a professional about your quote or about SR-22 insurance, you can contact one of our licensed agents at 833-255-4117 or [email protected].