A Financial Responsibility filing is a certification that an insurance company sends to the state. It confirms that liability coverage is in force and will remain in force until the filing is canceled. It's also known as an SR-22 or FR-44 filing.
A Statement of Financial Responsibility is often filed:
- To certify to the state that liability coverage is in force and will remain in force until the filing is canceled.
- To reinstate driving privileges.
- To obtain a new driver's license:
- If moving from one state to another.
- If you have had a serious accident or conviction record in the previous state.
- In some states for minor operators under the age of 18.
If you're required to file a Statement of Financial Responsibility, then your state, a judge or court system will notify you. If you're not sure if this is required, contact your state's driver's license authority.
To obtain a Statement of Financial Responsibility, you must have an auto insurance policy in effect. In addition, the driver requiring the statement must be listed on the policy.
- If you don't currently have an auto policy, you can get a quote.
- If you have an auto policy, you can add a driver and then, for that driver, request a separate statement for that driver.
- You must have at least the minimum bodily injury and property damage liability limits in effect for the filing state.
You'll need to have the following information available for the person needing the Statement of Financial Responsibility:
- Date of birth
- Social Security number
- Driver's license number and state
- License suspension date
- Expiration date or relief date, as the Statement of Financial Responsibility is no longer required
- Reason for Statement of Financial Responsibility and any applicable conviction information
A Financial Responsibility filing, also known as an SR-22 or an FR-44 filing, usually comes with a surcharge, which could increase your premium. The amount of the surcharge and the coverage types it impacts vary by location.
The filing period varies but is usually for 3 to 5 years. Check with your state for details.