How Does Ohio's Financial Responsibility (FR) Law Work?
In order to drive legally in Ohio, you must be able to prove you can pay for damages and injuries that occur in any traffic accident you cause. You must have coverage for a minimum of $25,000 per person / $50,000 total per accident for bodily injury caused to another person, passengers in another car, pedestrians, and $25,000 for damage to property other than your vehicle.
You cannot drive legally in Ohio without being able to demonstrate your Financial Responsibility (FR). To do this, you must have the minimum requirements of liability coverage in case you are responsible for a traffic accident. Any time a police officer stops you for a traffic violation or if you are involved in an accident, the officer will ask you for proof of Financial Responsibility (FR). If you cannot prove Financial Responsibility you may be facing severe penalties. Up to 2 years suspension, up to $500 Reinstatement Fee, impounding of your license plates and certificate of registration for repeat offenders.
If your license is suspended because you fail to prove FR, Ohio law specifies the steps you must take to have your driving privileges restored. These include paying any Reinstatement Fees and filing an SR-22 Form with the Ohio Bureau of Motor Vehicles.
With the issuance of your FR Bond (SR22), the insurance company will electronically file your SR-22 with the Ohio BMV. This is the fastest way to get your filing to the BMV without you going there. The BMV states that it takes them up to 3 business days to record a filing onto your record once it has been received. If you are in a super hurry, the fastest way to reinstate your license is to go directly to a local BMV Office with your SR-22 Form and any other requirements. Your SR-22 Form will be available to you several minutes after we have confirmed your payment. You can have your driving privileges restored the same day if it is early enough for you to make it to a BMV office with all your requirements.Back to TopHow Does An FR (SR22) Bond Work?
FR Bonds, at times called SR22 Bonds, are like automobile insurance in that they provide both bodily injury and property damage liability coverage for injuries and damages you cause. The FR Bond will cover you if you are at fault for injuries caused to another person, passengers in another car, pedestrians, and damage to property other than your vehicle. The FR Bond is available with only minimum liability limits of $25,000/$50/000/$25,000. There are no options available to add on to a FR(SR22) Bond. The FR Bond was designed for people who want the “Bottom Line” of coverage and want to purchase only the minimum protection required by Ohio FR Law. No one else who operates your vehicle is covered by your FR Bond. The FR Bond will not pay for injuries to you. The FR Bond may pay for passenger’s injuries if you are liable for an accident but will not otherwise pay for passenger injuries. The FR Bond does not cover damages to the vehicle that you are driving. The FR Bond provides restricted coverage only for bodily injury and property damage liability which you might cause while driving a vehicle.
The FR Bond (SR22 Bond) follows an individual and does not provide coverage for any particular vehicle.Back to TopWhat is an SR-22?
An SR-22, also known as SR22, sr22 bond, sr-22 bond, sr22 filing, or sr-22 filing is a form issued by an insurance company and used to prove your "Financial Responsibility" to the State Bureau of Motor Vehicles. This is a reinstatement requirement for most BMV ordered suspensions including those for 12 points, hit/skip, ticket or accident without insurance, random selection, noncompliance, DUI, and others. The SR-22 guarantees to the Bureau of Motor Vehicles that an insurance company has issued at least minimum liability coverage for the person making the filing. The filing also requires that the insurance company notify the BMV if the coverage is cancelled for any reason. This is a way for the BMV to keep tabs on whether or not someone has insurance. The BMV usually requires that you file an SR-22 for a period of 3 years from the beginning date of the suspension. Some suspensions may have a 5 year period. The Ohio BMV will accept SR22 filings showing the purchase of either an Auto Liability Insurance Policy, for vehicle owners who want more than the minimum, or a Financial Responsibility Bond, designed for those who want just the minimum coverage. The state does not care whether you purchase a policy, which follows your car, or a FR Bond, which follows you and covers you while driving any car, owned or non-owned.Back to TopWhat is an SR22/FR Bond?
The SR22 Bond, also known as Financial Responsibility Bond or FR Bond, is a minimum liability instrument that follows an individual and no particular vehicle. You are covered for state minimum liability while operating ANY 4-wheel private passenger automobile for personal use, owned or non owned. The FR Bond is a “stand-alone” instrument; you do not need any other coverage to comply with Ohio’s Financial Responsibility Laws. The FR Bond was designed for those who want the minimum amount of coverage accepted by Ohio's Financial Responsibility Laws. The SR22 Bond will pay up to $25,000 per person / $50,000 total per accident for bodily injury that you may cause to people in another vehicle or to a pedestrian. It will also pay up to $25,000 for any damage that you may do to another person's property. The FR Bond does not cover damages to the vehicle that that you are driving nor does it cover your medical expenses or those of your passengers.Back to TopWho does the SR22/FR Bond cover?
The SR22/FR Bond covers the Named Person Only for any injuries and damages that they are found responsible for while operating ANY private passenger motor vehicle. The FR Bond will pay up to $25,000 per person / $50,000 total per accident for bodily injury that you may cause to people in another vehicle or to a pedestrian(s). It will also pay up to $25,000 for any damage that you may do to another person's property.Back to TopDoes the SR22/FR Bond cover my car?
No, the SR22/FR Bond will not cover damages to the car that you are driving. It will only cover you for damages that you do WITH the car. Back to TopWill the SR22/FR Bond cover my injuries or those of my passengers?
No, the SR22/FR Bond will not cover your injuries or those of your passengers. It will cover injuries that you may cause to people in another vehicle or a pedestrian(s). Injury coverage is available for you and your passengers under a regular liability policy. Back to TopAre there any options available to add on to the SR22/FR Bond?
No, the SR22/FR Bond was designed for people who want to "Bottom Line" their coverage and purchase only the minimum protection allowed by the Ohio BMV. If more coverage is desired, a regular liability policy offers many options.Back to TopHow do I get my driving privileges reinstated?
It depends upon the type of suspension that caused your privileges to be taken away. You may have to serve a suspension period, pay a reinstatement fee(s), file proof of financial responsibility insurance, petition for driving privileges from the court or the BMV and/or re-take a driver license examination.Back to TopHow do I check reinstatement requirements?
Go to Ohio BMV website link where you can view your 2 year driving record and your reinstatement requirements. Back to TopHow long does it take to reinstate my driving privileges?
The insurance company will electronically file your SR22 with the Ohio BMV with the issuance of your bond. This is the fastest way to get your filing to the BMV without you going there. The BMV states that it takes them up to 3 business days to record a filing onto your record once it has been received. If you are in a super hurry, the fastest way to reinstate your license is to go directly to a local BMV Office with your SR-22/Bond form.Back to TopI was suspended for not having insurance. Can I have occupational driving privileges?
During a first-time non-compliance suspension, an individual does not apply to the court for driving privileges. Driving privileges will be restored upon payment of the reinstatement fee and filing of insurance with the Bureau in the form of an SR-22 or bond, provided no other suspensions are in effect. Limited driving privileges may be granted by the court during the term of a second or third/subsequent non-compliance suspension. Before petitioning the court for privileges, a suspended individual must file insurance with the BMV in the form of an SR-22 or bond and pay the reinstatement fee to the BMV. Some courts may allow the individual to utilize a payment plan for the reinstatement fee. A second non-compliance suspension requires a 15-day waiting period before driving privileges can be granted. A third or subsequent non-compliance suspension requires a 30-day waiting period. The individual should apply to the local court having jurisdiction over his/her place of residence, or to the court having jurisdiction over the traffic offense that resulted in the non-compliance suspension. A court is not required to grant limited privileges and may decline to do so based upon the individual's driving record and other factors.Back to TopWhy does my suspension start in 30 days, and not from the date I was convicted?
Once the conviction is received and processed by the BMV, an additional 30 days must be given prior to suspending an individual in order to give the person a chance to verify with the BMV that they indeed were insured at the time of the offense.Back to TopI received a letter in the mail requesting that I provide proof of insurance coverage. Is this an authentic request from the Ohio BMV?
The letter that you received requesting proof of insurance coverage is required by Ohio law. This statutory requirement is known as the "Random Selection Program." The Random Selection Program is administered by a subsidiary office of the Bureau of Motor Vehicles located in Hudson, Ohio. Therefore, for this program only, correspondence should be addressed to: BMV Insurance Processing Center, P.O. Box 209, Hudson, OH 44236-0209. The phone number for questions is 1-877-315-6605.Back to TopWhat paperwork do I need to prove my Financial Responsibility?
About 5 minutes after we have confirmed your payment, you will receive an email with an official copy of your SR-22 Filing, a temporary ID Card to carry, and a receipt for your payment. Back to TopCan I get my driving privileges reinstated today?
Yes, if it is early enough in the day for you to make it to a local BMV Office with all of your requirements.Back to TopWhy are your rates so low?
We have been in the SR22/Bond insurance business for over 40 years and we represent many major companies that sell FR Bonds in Ohio. We use our state-of-the-art comparative rating software to track down the lowest possible price for your SR-22 and we do so without adding any Additional Agency Fees. Back to TopWhat are Additional Fees?
An Additional Fee is a charge that an agency can add to your down payment that is over and above the amount required by the insurance company to start your policy. These fees range from $15 to over $100 in some instances. In today's market, your down payment should be very close to your monthly payment. Fees are legal in Ohio under certain circumstances but must be fully disclosed as "Agency Fees" and a notice of such must be displayed in plain sight. Back to TopWho is SR22 OHIO?
WE DO NOT CHARGE ADDITIONAL FEES!
SR22 OHIO is the internet division of Silverman Insurance Agency, Inc. dba Accurate Insurance Agency located just east of Cleveland, Ohio. Our Ohio Department of Insurance License Number is 24403. We are Independent Insurance Agents, which means that we represent a number of top-rated insurance companies. We have specialized in SR22 Insurance Coverage in Ohio for over 35 years. Back to Top