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Ohio SR22 Bond: Things you should know before buying


If you are planning to purchase Ohio SR22 Bond, first you must know the difference between an ordinary car insurance policy and an SR22 bond. Ohio SR22 Insurance is a legal document, typically issued by a certified insurer, in Ohio and serves as a guarantee that you have the minimum liability coverage.

Here, ‘SR’ corresponds to Safety Responsibility, and the form proves your financial responsibility. The state of Ohio requires drivers who are in a high-risk category to get SR22 Insurance, usually for three years. Consequently, if you are caught driving without car insurance or got into an auto accident without minimum liability coverage, then Ohio legal authorities will most probably require you to have SR22 for the next three years.

If you are found guilty of a car accident causing injury to someone, then the SR22 bond will pay a maximum of $25k per individual, and up to $50k in total. In addition, when you damage a vehicle as well in the car accident, the bond will pay a maximum of $25k for property damage. Hence, the maximum amount the bond will ever pay for a single auto accident is $75k. Thus, you may be required to bear all the damages exceeding the policy limits. Moreover, the bond neither covers you nor your vehicle at all. Consequently, you have to buy separate policy packages if you want coverage for your car, personal or passengers’ medical coverage.

In Wooster, Ohio, many car insurance companies do not handle SR22 bond filings, while those that do, file charge heavy fees. Your best bet is to either have an insurance specialist that specializes in high-risk vehicle insurance or approach a Wooster insurance agency that not only offers Ohio SR22 insurance policy but also understands the requirements of Ohio laws.

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