Colorado SR22 Auto Insurance Financial Responsibility Information
After a driver’s license suspension or revocation, the State of Colorado Department of Revenue Division of Motor Vehicles requires a person to file an SR-22 in order to reinstate their driver’s license. Simply filing an SR-22 does not automatically result in the reinstatement of driving privileges. It is a separate action from any court action/case, even after all fines and court costs are paid. The Colorado DMV (department of motor vehicle) reinstatement procedure must be precisely followed in order to regain your driver’s license.
License suspension and revocation is shared within all 50 states, and does not relieve you from maintaining the SR-22 even if you relocate to a different state. Some people cancel their policy after relocating to a different state, assuming that they no longer need it. This is a mistake. Moving to a different state will not relieve you from your obligation to maintain the SR-22. In general, the SR-22 must be maintained between 1-3 years. Please note that DMV (department of motor vehicle) does not notify drivers when their suspension period has ended. The original letter that you receive from the DMV states the beginning and ending dates that you must carry the SR-22. Once the financial responsibility requirement has been imposed upon a driver, he or she must comply. Failure to comply will result in revocation of the driver’s license and a minimum mandatory jail time of 5 days up to maximum of 6 months, and a fine of $50 – $500.
An SR-22 is an endorsement (rider) to an existing insurance policy. It cannot be purchased by itself, as the form itself is not an insurance policy. The SR-22 form is a guarantee by your insurance company that you will obtain insurance for a certain period of time. In other words, it is a monitoring or tracking device. If the policy lapses, the insurance company notifies the Colorado DMV when an individual’s insurance policy has been canceled, lapsed or has not been renewed by filing an FR-4 or SR-26.
The SR-22 can be purchased with a vehicle (owner-operator) or without a vehicle (non-owner policy). A non-owner policy can be purchased if there are no automobile registered in your name, and that applies to all states. However, a non owner policy can be purchased if there is a vehicle/s in the household, but not registered to your name. The exception to this rule is a husband and wife who own a vehicle. In that scenario, the vehicle has to be listed.
In some states a broad form can be purchased, in addition to your existing policy. How ever, there are only a few states that offer a broad form policy with an SR22 endorsement. Please contact us for specific information regarding a broad form policy to see if that suites your situation.
Minimum liability insurance coverage for the State of Colorado is:
- $25,000 bodily injury for one person in one accident
- $50,000 for two or more persons in one accident
- $15,000 property damage incurred in one accident
DO NOT ALLOW THE SR-22 HIGH-RISK AUTO INSURANCE TO LAPSE!
For additional information regarding Colorado financial responsibility SR-22 high-risk auto insurance contact:
Colorado Division of Motor Vehicles
1881 Pierce Street
Lakewood, CO 80214
Phone: 303 205-5600
| State | Law Office | Web Site |
|---|---|---|
| Colorado | Anthony J. Fabian, P.C. | http://www.ajfabianlaw.com/ |
| Colorado | Colorado DUI Defense | http://colorado-dui.com/ |
