Jessica Sautter has a Bachelor’s Degree from Eastern Michigan University in Elementary Education with a Major in Reading and a Minor in Mathematics.

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Natasha McLachlan is a writer who currently lives in Southern California. She is an alumna of California College of the Arts, where she obtained her B.A. in Writing and Literature. Her current work revolves around auto insurance guides and informational articles. She truly enjoys helping others learn more about everyday, practical matters through her work.

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Reviewed by Natasha McLachlan
Content Writer Natasha McLachlan

UPDATED: Oct 1, 2020

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To understand the SR22 bond, we need to explain what an SR22 is. It is the process of filing that an insurance company does on your behalf. The provider files the SR22 to the state (for example Ohio) to ensure the driver (you) meet the minimum liability amount coverage required by law. The bond represents the aspect of responsibility.

So, what is an SR22 bond and how does this work? Let’s make it clear to you.

What is the Extent of the Bond Coverage?

SR22 bond insurance covers a total amount of $75,000. The breakdown is as follows: $25,000 is for any individual injured, or if two people get hurt, $50,000. The remaining $25,000 is for damages to property liability in an accident where you are deemed to be at fault.

The bond insurance covers you, the driver, but it does not provide coverage for the vehicle you are driving. It doesn’t matter whether you own it or not (for that you need separate coverage).

Coverage Amount (Remember these figures)

Car Insurance Coverage

This bond does not provide any medical coverage for you or any passengers in your vehicle, and the coverage does not exceed $75,000. Any costs beyond $75,000 will be your sole responsibility. This is applicable not just in Ohio but other states as well since bond companies only provide the minimum coverage.

The quickest way to go about this is to go online and get a quote. If you are looking for SR22 bond quotes, click here.

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Are Bonds and Insurance the Same?

No, they are not. The biggest difference between the two is that an insurance policy can provide you wider coverage, including but not limited to vehicle physical damage and uninsured motorist coverage. Bonds cannot and do not provide these because their coverage is restricted to the minimum damage liability you incurred.

How Much Does an SR22 Cost?

The SR22 bond cost filing is relatively cheap at around $15 to $25. As for getting insurance with low premiums, that will be more difficult particularly if you have an SR22. The cost of filing an SR22 has no direct link to the cost of your auto insurance, as other factors will determine it. Factors that determine the cost of an insurance policy include your driving record (or spouse), convictions, arrests, accidents, traffic violations and so on.

The same rule applies to bonds. If the cost of SR22 insurance is affected by your driving record, the same rule is applicable here. To put it another way, the total charge will depend on the reason your license got suspended or revoked. Also, if the incident got other parties injured.

Do I Need Bonds?

How to Get Affordable Non Owner SR22 Insurance

As mentioned earlier, the bond is filed by an insurance company for you to the state. If you live in Ohio, then it is the Ohio Bureau of Motor Vehicles. There are several reasons why you may need this bond, among them, driving without insurance, DUIs, and other offenses.

By going to the official Ohio Bureau of Motor Vehicles website you can determine if the state will require you to have this bond. Another option would be to go to a bond company, and they will be more than happy to guide you through the process.

Can you drive on the road with this bond?

Under regular circumstances, you won’t be able to drive if you have violations as mentioned above.  However, once you have this bond, you are given the legal right to drive on the road. The bond coverage is the minimum allowed by the state, but it should be more than enough for most drivers.

If you cause an accident.

In every state, all drivers are required to have insurance or bonds to demonstrate their financial responsibility towards other parties. Nobody wants to get involved in a vehicular accident. But in case it does happen, and you are the accused, the bond insurance will ensure the injured party receives compensation.

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What Should I Look for in a Bond Company?

There are lots of companies that offer bonds for SR22s in Ohio, but the quality of services provided varies. In these cases, the experience will be necessary, as the more versed they are in these matters, the quicker the process will be, plus they’ll be able to answer any questions you have.

Getting Quotes:

A lot of web-based services have connections to several bond companies, and the more services they shop your bond to, the better as it helps reduce the cost. Last but not least, you should check SR22 bond quotes because the figures can and do vary from company to company.

How Long Does It Take to Obtain a Bond?

SR22 bond insurance processes are usually fast. A bond can be issued in 10 minutes and process immediately. The processing time varies from state to state, but in Ohio, it takes around 24 hours or less.

Not only is it quick and easy to get a bond issued, but now many websites let you print the necessary documents. So it is more convenient than ever.

Why Do Drivers Take Bonds Seriously?

Police Checkpoint for DUI and License