Reinstatement of driving privileges after a license suspension due to a DUI conviction requires, among other things, filing an SR22 form or "proof of insurance" (the "SR-22" form) with the Bureau of Motor Vehicles or BMV (in some states referred to as the DMV or department of motor vehicles.) For more information directly from the your state's BMV or DMV Click HERE
What Your Insurance Company Knows About You
This article by insure.com provides an inside look at how auto insurance companies get information and what they are likely to know about you and your driving record when you apply for coverage.
Do you have a DUI conviction? Your insurance will cost more and you will be required to have your insurance company send a copy of an SR22 form to the State BMV!
State laws require that you prove that you are able to pay for damages that you cause to someone as a result of your operation of a vehicle. (Liability coverage) That proof is usually in the form of an insurance policy with at least the minimum amount of coverage. (some states $12,500.00) You may also post a financial responsibility bond. to post a bond, you pay a fee to a bonding company and the company agrees to pay for damages that you cause, up to the maximum amount of coverage that you purchase. The bonding company provides a copy of the bond to the Bureau of Motor vehicles (BMV / DMV) The terms of the bond will usually require that you reimburse the company for any money that they have to pay! This not insurance, you have to re-pay the bonding company!
Both the bond and an insurance policy provide protection to a person who suffers a loss in a vehicle collision that you caused. (Liability coverage)
Is there a difference between a bond and an insurance policy? YES!! If you buy a bond, You have to pay for the damages yourself! The cost of the bond will usually be less than the cost of an insurance policy but the bond does not protect you. The bond is proof that you will be able to pay at least the minimum amount for damages that you cause and that allows you to drive. Get insurance if you can. If you can't then get a bond. If you can't get at least a bond? DON'T DRIVE!!
The Primary purpose of Auto insurance is to provide protection against financial loss resulting from damage to personal property and/or bodily injury caused by a traffic collision. Depending on the policy, there may be coverage for losses from theft or damage to the vehicle other than from collisions.
See the a more complete explanation from WikipediA-Vehicle insurance.
insurance should provide protection for all people suffering a loss, regardless who is at fault. You can choose to pay less and you will get less protection. If you buy a policy that does not pay to repair your vehicle if the accident is your fault then you will pay for your own repairs. If you do purchase coverage for damage to your vehicle, (collision coverage) you will pay a deductible and your policy will pay up to a maximum amount-or the market value of your vehicle, whichever is less.