SR-50 Car Insurance: What To Know & How To Save (2024)

Drivers who live in Indiana may have heard of something called an SR-50. This form helps drivers prove they have insurance for their vehicle.

You may be curious if it’s required and how it relates to car insurance. If so, you came to the right place. Keep reading to learn everything you need to know about the SR-50.

Is an SR-50 insurance form required in Indiana?

According to Indiana state law, drivers are financially responsible for accidents. Therefore, if you are convicted of a moving violation or involved in an accident, and you cannot provide proof of insurance at the time of the incident, you will be ticketed. 

The Indiana Bureau of Motor Vehicles (BMV) will then require you to file an SR-50 form for proof of insurance. Once your form is accepted, you will receive a notice that acknowledges you have met the compliance requirements and carry insurance. 

However, if you were uninsured at the time of the incident, or did not provide an SR-50 upon request, you might have your Indiana driving privileges suspended.

Read more: Indiana Car Insurance Laws

How do I get an SR-50?

If you need an SR-50, start by reaching out to your insurance company. An agent will fill out the form, which will include your name, driver’s license number, and the dates your policy is in effect.

The agent will then submit it to the Indiana BMV. You will probably have to pay a small filing fee when submitting the paperwork.

What is SR-50 insurance?

Technically, SR-50 is not insurance. Instead, it’s a form used in Indiana that helps drivers provide proof of insurance for their vehicle to the Indiana BMV. 

Most of the time, the SR-50 will only be necessary if you receive a notification from the Indiana BMV requesting the form. 

The SR-50 essentially proves that you currently have insurance coverage that meets the minimum liability requirements in the Hoosier State. Currently, Indiana car insurance laws require minimum liability coverage of $25,000 per person and $50,000 per accident for bodily injury, and $25,000 for property damage. 

Is the SR-50 similar to the SR-22?

You may wonder if the SR-50 insurance form is related to the SR-22. While there are some similarities between the two forms, there are also some key differences. 

For instance, both prove that you have car insurance. However, with the SR-50, you must only have insurance that meets Indiana’s minimum requirements. On the other hand, with the SR-22, the mandatory insurance required is usually higher than the standard minimum. 

Also, the SR-22 is designed to prove insurance coverage for someone whose license has been revoked. Filing an SR-22 form is required in order to get your license reinstated. Because of this, the SR-22 is ordered by the court, unlike the SR-50, which is required by the Indiana BMV.

If you need SR-22 insurance, compare quotes from the best insurance companies for SR-22 in your city to get the most affordable rates.

The Bottom Line on SR-50 Insurance Forms

Indiana drivers who cannot provide proof of car insurance may be asked to file an SR-50 form with the state BMV. The process is typically handled through your insurance company, which will provide the state with proof that your car insurance meets the minimum requirements. 

Not having the required insurance in Indiana may result in license suspension and reinstatement fees. Fortunately, you can avoid these scenarios by contacting your insurance company to clarify your insurance meets the required minimums in Indiana.

If you are not yet insured, you may want to compare car insurance rates in your area before committing to one company. This way, you can be sure you are getting a policy that provides the coverage you need at a price you can afford.

Case Studies: Understanding SR-50 Insurance Requirements and Comparing Quotes

Case Study 1: John’s SR-50 Insurance Requirement

John, a driver in Indiana, was involved in an accident and couldn’t provide proof of insurance at the time. As a result, he received a ticket and had to file an SR-50 form to meet the state’s compliance requirements. His insurance company helped him fill out the form and submitted it to the Indiana Bureau of Motor Vehicles. John learned the importance of maintaining proper car insurance to avoid legal consequences.

Case Study 2: Sarah’s SR-50 vs. SR-22 Insurance

Sarah, another driver in Indiana, was confused about the differences between SR-50 and SR-22 insurance. She discovered that while both forms prove car insurance coverage, they serve different purposes. SR-50 is required for drivers who cannot provide proof of insurance during an incident, while SR-22 is for individuals with revoked licenses seeking reinstatement.

Case Study 3: Mark’s Comparison Shopping for SR-50 Insurance

Mark, a driver who needed SR-50 insurance, decided to shop around for the best rates. He compared quotes from multiple insurance providers to find the most affordable option. By taking the time to compare prices, Mark was able to secure SR-50 insurance at a reasonable cost and meet the state’s requirements.