What is SR-50 Car Insurance? Is it Exclusive to Indiana?

If you are thinking of getting auto insurance in Indiana, there must be a lot of questions on your mind. What is the best auto insurance policy? What is SR-50 insurance? What are the requirements for auto insurance? Let us talk about SR-50 auto insurance in this article since there has been a lot of confusion regarding this particular document.

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Each state in the US has different document requirements. From auto insurance to life insurance, each state follows a different set of rules. When talking about auto insurance, the documents are however very similar for every state except one- Indiana. This state has a unique form i.e. SR-50 insurance. This gets confusing as many people don’t have much knowledge about it. How does it work? Is it compulsory to fill it? 

In this article, we will look at all your queries regarding the SR-50 auto insurance. Scroll down to find out what is this particular document and everything regarding it.

What is SR-50 Insurance Form?

If you look at it from a technical standpoint, SR-50 can not be counted as insurance. SR stands for ‘Safety Responsibility.’ SR-50 is a form that validates your auto insurance. It is a simple document that verifies that a driver is following Indiana’s car insurance laws. It works as an Affidavit for the driver’s current car insurance. It is a proof that the driver is carrying at least the minimum amount required for car insurance.

This document is issued by the company through which you take the auto insurance. They then send it to the Indiana Bureau of Motor Vehicles. 

You might be thinking that every insurance policy comes with proof, so what’s the need of filling SR-50 form. And can’t you simply print a copy of your policy and mail it to the state? Well, that’s not how it works! So, let’s find out why the SR-50 auto insurance is required.

Why is SR-50 Auto Insurance Required?

To simply answer your question, the state cannot rely on every individual to mail them proof of their car insurance. That is why the state wants the insurance companies to file the paperwork. 

Another thing you need to keep in mind is that the SR-50 form is designed to reflect the driver’s history. This form becomes important when you take into consideration high-risk drivers. These are the people who have gotten their driving privileges suspended for being reckless during driving. 

Indiana is very strict with its driving laws and does not restore a license unless the driver has filed the SR-50 document with the Indiana Bureau of Motor Vehicles.

What Information does SR-50 Insurance Form Require?

Filling out the SR-50 insurance form is quite easy. It is straightforward and requires only simple information. Here is what you would have to fill out in the SR-50 insurance form:

  • Name
  • License Number
  • Effective date of insurance coverage
  • Expiration date of insurance coverage

What is a Certificate of Compliance in Indiana?

As discussed above, Indiana is very strict with its auto insurance laws. The high-risk drivers in Indiana need to have a certificate of compliance in addition to the SR-50 form. A driver needs to fill out the Certificate of Compliance:

  • When there is an auto accident and the report is sent to the Bureau of Motor Vehicles.
  • When a driver receives a third moving violation within one year.
  • When a driver receives a moving violation for the second time after not showing auto insurance coverage proof.
  • Circumstances as deemed necessary by the state.

According to Indiana auto laws, the state can request to see your auto insurance proof under any circumstances. This is done because the state wants to ensure that high-risk drivers carry the insurance with them all the time while driving.

What is the Difference Between SR-50 and SR-22 Auto Insurance?

Now, that you know what the SR-50 form is, you must not confuse it with the sr22 insurance form. While both of these forms are related to insurance, they are different from each other. SR-22 is a form that is common in most states, even Indiana. However, the SR-50 form is exclusive to the state of Indiana. Here is the difference between the SR-50 and SR-22 auto insurance:

  • SR-22 Insurance Form: This form verifies your future auto insurance. The SR-22 auto insurance form is proof that the driver will atleast carry the legally advised minimum car insurance amount in the future.
  • SR-50 Insurance Form: This form verifies your current auto insurance. The SR-50 auto insurance form is proof that the driver is currently carrying the legally advised minimum car insurance amount.

In this article, we have covered all the information regarding the SR-50 insurance. It is a form exclusive to Indiana which confirms that a driver is following Indiana’s car insurance laws. This is a compulsory form and is especially required by all the high-risk drivers in Indiana.

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