Q: Can I use a surety bond as an alternative to SR-22, and how does that process work?
In California, an SR-22 is a form required by the Department of Motor Vehicles (DMV) that proves you have the minimum liability insurance required after certain violations, such as a DUI. A surety bond is generally not considered an alternative to SR-22 insurance. Instead, a surety bond may act as a form of collateral to satisfy financial responsibility requirements in certain circumstances, primarily for drivers who do not wish to purchase conventional insurance.
If you opt for a surety bond as a way to demonstrate financial responsibility, you will typically need to obtain a bond from a licensed surety company. The amount of the bond must be equivalent to the minimum liability coverage required by California law, which is typically $15,000 for injury or death of one person, $30,000 for injury or death of multiple persons, and $5,000 for property damage.
Furthermore, once you have acquired the surety bond, you must file it with the DMV to meet the proof of financial responsibility requirement. This process generally includes completing specific forms and potentially paying fees associated with the bond. It is crucial to ensure that the bond remains active and continuously meets the state’s requirements during the period of filing, as failure to do so can lead to license suspension or other legal penalties.