Reader question:

I’m required to have insurance, but it seems that know company will sell me a policy with an Ohio SR22 bond. What do I do?

Mark

Thanks for your question, Mark.

Being a high risk driver makes shopping for car insurance frustrating, and sometimes it seems like your options for car insurance companies that will sell you a policy with an Ohio SR22 bond are worse than limited–they are non existent. But since it is required by law for you to have an Ohio SR22 bond, it wouldn’t make sense if it were impossible for you to get this. Even if it is a little more difficult than usual, there is a way for you to get insured.

• High risk companies.

As a high risk driver, and especially a driver who needs an Ohio SR22 bond, you would think that no car insurance company likes you. However, there are thousands, if not millions, of people across the country in your same situation, and because of this, you are indeed a market. A car insurance company can pick and choose which markets it wants to insure, and a good deal of them don’t want the Ohio SR22 bond market. However, there are also many companies out there that specify in selling car insurance policies to people who are considered high risk.

The catch here is that you will pay a whole lot more than you normally would for an Ohio SR22 bond if you have to get insured through a high risk company. Before you get specific, try looking into other companies that insure all kinds of drivers. If you do need a high risk company, start with Progressive and get a quote from other high risk companies as well. Be sure to specify that you need an Ohio SR22 bond to be filed.

• Jump in the pool.

In some cases, your search might truly be fruitless. Even the high risk companies don’t want to take you and your Ohio SR22 bond in. However, for drivers like you, the state must provide a way, and it does.

If you absolutely cannot find insurance anywhere else, then you will have to join your state assigned risk pool in order to meet the requirements of your Ohio SR22 bond. This pool is made up of extremely high risk drivers, and assigns them to regular companies which then sell them car insurance policies at extremely high prices. All companies participate, so even if a company denied your policy before, you might end up with them after all. Assigned risk pools are very expensive.

Cheers,

Fashun Guadarrama.