Indiana Financial Responsibility Information
Indiana is not a compulsory auto insurance state. This means that Indiana drivers have alternatives when it comes to meeting financial responsibility requirements. These required minimum financial responsibility limits are as follows:
Uninsured/ Bodily Injury Liability:$25,000/ $50,000
Property Damage Liability: $10,000
Indiana is one of the states that now requires uninsured and underinsured driver insurance coverage. The numbers above reflect those new requirements, which can be requested from your insurance company in the event of a hit-and-run accident. You may reject the coverage, but only through a written refusal issued to your insurance carrier.
Drivers can protect their assets without purchasing liability auto insurance by making a certified deposit of no less than $40,000 in cash or checks. Alternatively they can file a vehicle liability bond with the Indiana DMV.
Those in Indiana caught driving without insurance will have their driver's licenses suspended for 90 days. Other potential causes of Indiana driver's license suspension are:
D.U.I. , D.W.I. , Driving without a license, driving with a suspended license, reckless endangerment, reckless driving, evading arrest, and more.
A license reinstatement fee of $150 will be assessed when the suspension is lifted. A second offense will mean another 3 month license suspension and a reinstatement fee of $225 . A third offense will raise the fee and additional 75$ to $300, and suspend your license a further 3 months.
If you have your license suspended, you may be asked to file an SR-22 or some other form which demonstrates future proof of financial responsibility.
Indiana SR-22 Filing Services & Quotes
An SR-22 is just one version of a form which proves future financial responsibility to the authorities of a state.
Indiana law may require an SR-50 which demonstrates current proof of financial responsibility, but an SR-22 certificate will satisfy the requirement.
An SR-22 filing is not an insurance policy. An Sr-22 certificate is instead a certificate which informs the authorities that you are engaged in a contract with an auto insurance carrier to pay a premium in exchange for an insurance policy that will remain in-force throughout the duration of the period for which you are obliged to maintain your future proof of financial responsibility.
In addition to any costs associated with the filing of an SR-22, you must also pay a monthly premium on an auto insurance policy that meets at least the Indiana minimum liability insurance requirements.
In the event that your liability policy attached to your SR-22 lapses or you cancel it because you can't afford the premium, we will file an SR-26 on your behalf immediately. The SR-26 essentially undoes the SR-22. It will inform the authorities immediately of your lack of insurance and make you eligible for arrest the same day it is filed.
An SR-22 filing will make your auto insurance costs go up, but it doesn't have to cost you an arm and a leg to be responsible again. Before you drive without insurance, call us at 1-800-771-7758.
We offer free quotes and information on SR-22 filings and auto liability insurance information in Indiana.