| |
Proof of financial responsibility (SR-22 filing) is certifying that you have liability insurance in the amounts of at least $25,000 and $50,000 for personal injury or death and $10,000 for property damage.
Proof of insurance is filed by obtaining an SR-22 certificate issued by an insurance company licensed to do business in Wisconsin. In some cases, substitutions, such as a bond from an insurance company or a cash deposit of $60,000 posted with the Wisconsin Department of Transportation (WisDOT) will be accepted.
If you are filing insurance in lieu of sponsorship, be sure to tell the insurance agent you want to file insurance "in lieu of sponsorship."
Be sure the agent understands the filing is not required due to a revocation or suspension of your operating privilege.
Most insurance companies that file proof of financial responsibility will mail the certificate directly to WisDOT. Some companies will give the SR-22 to the customer and some companies will electronically file the information to WisDOT's computer system. The electronically filed information is usually entered automatically on the customer's driver record within one or two working days.
The SR-22 certificate is issued in one of the following:
1. Operator's Certificate - This policy covers the motorist in the operation of any
non-owned vehicle. If the motorist does not own a vehicle, the financial
responsibility requirement can be met through the Operator's Certificate.
2. Owner's Certificate - This policy covers vehicles owned by the driver. The type
of vehicle must be listed on the SR-22 or may be issued for "All owned vehicle".
3. Operators-Owners Certificate - This certificate covers all vehicles owned or
non-OWNED by the driver.
The insurance must be submitted on a Financial Responsibility Certificate (SR-22) from the insurance company. The insurance company must have authorization to write
financial responsibility insurance in Wisconsin and have "a power of attorney" on
file in Wisconsin. The Wisconsin Department of Transportation maintains a listing of
authorized agents and companies.
|
|
