Missouri High Risk Car Insurance
If you are shopping for insurance and have had some driving troubles in the past, you are going to probably need a Missouri high risk car insurance policy. High risk insurance can also be known as SR-22 insurance. What exactly is Missouri high risk car insurance? Let’s find out.
Missouri Mandatory
Insurance Coverage
In Missouri it is illegal to drive any vehicle that has a motor including motorcycles, mopeds, cars or golf carts without liability insurance coverage. Also, you cannot let someone drive your vehicle if they do not have insurance. In every state there are specific limits of liability insurance. Some may call it mandatory liability insurance while others may call it compulsory insurance.
For Missouri, the minimum mandatory insurance coverage is:
-
$25,000 bodily injury for one person in one accident.
-
$50,000 for two or more persons in one accident.
-
$10,000 property damage incurred in one accident.
Missouri also requires uninsured motorist bodily injury coverage.
If you have a violation or an accumulation of violations, like reckless driving, driving under the influence, refusal to test, at fault accidents or drive without insurance, the Missouri DMV will mandate proof of financial responsibility in the form of SR-22 insurance, which is also known as high risk insurance.
The DMV does not keep a database of your insurance policy. Insurance companies must keep a database to be able to notify the DMV when somebody’s insurance policy has be canceled, lapsed or has not been renewed. You will also get a copy of this and must now show Missouri proof of insurance. If you don’t do this, they will suspend your license. This is when the DMV will require an SR-22 high risk auto insurance policy so that your license can be reinstated.
Who Are High-Risk Candidates?
People who show poor driving habits and have a risky behaviour are considered high risk candidates. This is usually the case when someone is driving a motor vehicle while they are intoxicated or drives in an unsafe manner. Speeding, reckless driving, an accumulation of at fault accidents,and multiple tickets for various reasons are probably going to go in the high risk level of behaviour.
Also, statistics show that people with poor credit ratings will report more claims. People who have financial difficulty maintaining their auto insurance coverage are also known to be high risk.
Education levels and environmental factors play a part in defining high risk people. City residents tend to have more accidents due to high population than people living in suburban or rural areas.
Your sex, age and gender can also determine your high risk insurance needs. Younger males will mostly have more risky behaviour compared to a teenage girl. Women seem to have less risk factors than men. In the end, the insurance company and the DMV determine a person’s requirements for SR-22 high risk auto insurance.
What Is High-Risk SR-22
Financial Responsibility Insurance?
It is a guarantee by the insurance company that you have and will keep in effect at least the very basic mandatory liability insurance for a specific period of time. It is a way for the state of Missouri to keep an eye on your responsibility to obtain and maintain an SR-22 insurance policy. Remember, not all insurance companies can or do provide SR-22 insurance coverage.
How Can An Operator Reinstate
A Suspended License?
The state of Missouri requires a simple step. You must purchase liability insurance utilizing the Missouri minimum requirements in filling SR-22 high risk auto insurance from the Missouri state DMV.
There are two policy types
-
Owner Policy: This is an insurance policy that provides liability coverage for the owner’s personal vehicle that he or she will describe in the insurance declaration sheet. It can also come with collision and comprehensive coverage. Full coverage, uninsured motorist, underinsured motorist, medical payments, towing and rental auto payments can also be covered with additional premiums, at a higher price.
-
Non-Owner Policy: Sometimes known as an operator policy, this is an insurance policy that provides basic mandatory liability coverage on any vehicle that the policy holder does not own. It can be a friends car or a company car for example. This policy can be exclusive of existing insurance. It means that if a vehicle in the household already has insurance, this policy can be issued to satisfy the Missouri SR-22 high risk auto insurance requirement. The company you are insured with does not need to be notified of your need for high risk short term SR-22 insurance coverage. If ever your insurance company discover some extreme violations, the premiums will certainly increase and they could even cancel your policy.
Usually these policies are offered by an agent who works with an acceptable insurance company licensed to operate in the state of Missouri. When the policy is issued, the insurance company’s main office will file an SR-22 high risk auto insurance form with the Missouri DMV department of financial responsibility on your behalf. The agent will also file an SR-22 insurance form with the state of Missouri and you will receive a copy of the SR-22 insurance form along with the policy and proof of insurance. Owner and non-owner SR-22 high risk insurance policies can be written for motorcycles.
Another form of compliance that would indicate financial responsibility would be the purchase a bond in the amount that the state of Missouri will specify. It is usually between $30,000 and $50,000. Your insurance company can issue these bonds if they are authorized.
The DMV will evaluate the time for an SR-22 high risk auto insurance based on how serious your violations are. It is usually between 3-5 years. If by any luck you can carry on for 36 months without any violations, the SR-22 may be terminated. You must keep your policy in affect. Your insurance company will keep a close eye on this and if your policy lapsed or is canceled, the DMVcan immediately suspend your license for that reason alone.Once that happens, there will be reinstatement fees and penalties that will be at a higher cost to you.
Find The Missouri Car Insurance
Policy You Need Today!
Missouri High Risk Car Insurance is something that should never be needed if you are a good driver. For those who do need it, be careful to follow the important guidelines that come with it.
Compare Missouri auto insurance quotes now with our free Missouri car insurance quote finder.