The minimum amount of liability insurance coverage required to satisfy Indiana’s Financial Responsibility law is 25,000/50,000/25,000. This means that your insurance policy must insure you against loss in an accident where you have been determined to be at-fault for a minimum of:
Failure to maintain proper insurance could lead to the suspension of your driver’s license for at least ninety (90) days (one (1) year for repeat violators within a three (3) year period). In order to obtain a reinstatement of your license, you may have to pay a reinstatement fee of $150, $225, or $300 depending on whether it is a first, second, third or subsequent offense, and provide current proof of insurance signed by an agent or representative of the insurance company.
When a motorist’s operator license is suspended upon conviction of a major offense, that driver must submit proof of insurance to the BMV before being reinstated. This filing provides that the driver has an auto liability policy in effect that cannot be canceled without prior notice.
If you are required to maintain a certificate of Financial Responsibility, your insurance company is required to provide the BMV with at least ten (10) days advance notice before termination. Insurance King will only issue an Indiana SR-22 to Indiana residents.
An SR-21 or a Certificate of Compliance is a form that must be filed by your auto liability insurance agent after an accident or following a traffic violation. Filing this form certifies you met the Financial Responsibility requirements at the time of the accident or violation. The most common proof of Financial Responsibility is your automobile liability insurance policy. This form is required by the Indiana Bureau of Motor Vehicles.