Laura Berry is a former State Farm insurance producer and insurance expert.

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products, including home, life, auto, and commercial, and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, mainly in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers Insurance CSR 4 Years

UPDATED: Oct 15, 2021

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Important facts to know...

  • Car insurance is a legal requirement for all drivers in almost every state.
  • Not getting the mandated insurance coverage can lead to several serious consequences like fines and imprisonment
  • SR50 car insurance is proof of car insurance for a specific period for a specific vehicle
  • You may be legally required to have an SR-50 affidavit if you live in Indiana

Suppose you have been on the wrong side of the law or not maintained appropriate auto insurance coverage as required by your state. In that case, you may have special requirements that can cause your car insurance rates to go up.

Dealing with paying higher rates is never anything any driver wants to do; however, you can have more control over the premiums you pay on your car insurance policy if you use an online insurance quote comparison tool.

These tools put you in the driver’s seat, no matter what type of insurance coverage you need or what has happened in your driving history.

Enter your zip above to start comparing today!

Why do I need car insurance?

With very few exceptions, auto insurance coverage is mandated in every state. Not only is it a legal requirement, but it is also a smart financial move. Getting into an auto accident without insurance can come with a price tag in the six-digits or even higher.

Not purchasing the minimum auto insurance coverage required in your state can put you and the other drivers on the road at severe financial risk.

Additionally, not getting the proper car insurance coverage can get you into legal trouble as well. Suppose you are pulled over by an officer of the law or in an auto accident. In that case, you will likely face one or more of the following consequences, depending on what state you live in:

  • Fines up to and between $500 – $1000
  • Imprisonment
  • Community service
  • Driver’s license suspension
  • Vehicle registration suspension
  • SR-22 insurance requirement

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What are Indiana’s car insurance requirements?

Indiana is the only state requiring an SR-50 insurance filing. Much like the SR-22 certificate of insurance, the SR-50 insurance form is a certificate of insurance attached to your policy that indicates you’re carrying sufficient liability insurance. 

If an Indiana motorist cannot provide proof of insurance coverage at the time of traffic violation, their drivers license may be suspended for a year. To have their driving privileges restored, the driver will need to pay a reinstatement fee. The insurance agent will need to submit the Indiana SR-50 form to the BMW (Bureau of Motor Vehicles). The form must include both the start and end date of your current policy. 

Each new Indiana car insurance policy must have uninsured/underinsured motorist coverage unless the policyholder rejects it in writing.

Bodily Injury coverage must be for a minimum of $25,000/$50,000. Indiana car insurance policies also must include $10,000 in property damage liability coverage and $50,000 for bodily injury coverage.

You should talk to your insurance company or insurance agent to determine if you are meeting the minimum requirements of your state and what other coverage types you may want. Many drivers should and will select additional coverages on their vehicle such as:

  • Comprehensive
  • Collision
  • Medical Payments
  • Rental Car Coverage

What is Indiana SR50 insurance?

Under Indiana State law, the Bureau of Motor Vehicles (BMV) has the right to suspend driving privileges. This can be done for a variety of reasons such as:

  • Being charged with a DUI
  • Failure to provide proof of financial responsibility (car insurance)
  • Being charged with other crimes such as reckless driving

All motorists are required to file an SR-50 insurance filing in the event of:

  • When a vehicle accident report is sent to the Bureau of Motor Vehicles
  • When you get a third moving violation within one year
  • When you’re involved in a major accident resulting in misdemeanour or fellony
  • When you have gotten a moving violation after already being suspended for not proving financial responsibility.

Suppose your Indiana driving privileges have been temporarily suspended. In that case, you will likely be required to provide proof of one or more of the following to reinstate your right to drive a vehicle:

SR-50 Affidavit of Current Insurance

Suppose you need proof that you had insurance coverage on a specific date for a particular vehicle. In that case, you may be required to submit an SR-50 affidavit. This affidavit must be submitted electronically to the BMV from your car insurance carrier.

An SR-50 affidavit will indicate the commencement and end dates of your current auto insurance policy. It is essential to note the Indiana SR50 insurance is not a policy itself; it is proof of auto coverage during a specific time frame.

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Certificate of Compliance (COC)

This is a form that verifies your financial responsibility for a specific incident date and a specific vehicle only. The state requires your COC to be submitted electronically by your auto insurance provider, not by you.

Proof of Financial Responsibility for Employer or Rental Car Affidavit

For this type of proof, you will need State Form 55434. Once submitted and approved, this form relieves you of financial responsibility for a vehicle that you were borrowing from your employer or that you were renting.

Drivers are not permitted to complete this form; it can only be completed by a manager of the rental car company or of the business the vehicle belonged to.

SR-22

SR-22 insurance policies are standard insurance policies. However, what makes SR-22 forms a bit different is that they provide proof of future financial responsibility.

If you have been caught driving without insurance or have a DUI, the state will likely require you to obtain this type of insurance.

As with SR-50 insurance coverage, an SR-22 policy is not an insurance policy per se but proof of current coverage.

The insurance company will give electronic notice to the BMV that you have secured a form of financial responsibility in the form of SR-22 insurance. Drivers are required to keep this type of insurance on file for either a three-year or five-year period of time. 

If you need an SR-50 certificate to reinstate your insurance, an SR-22 certificate will suffice for proof of current financial responsibility.

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SR-26

Suppose you have SR-22 forms on file with the BMV. You let that insurance lapse or cancel your insurance policy for any reason. In that case, the auto insurance carrier will electronically submit a document called an SR-26 form to the BMV.

The SR-26 certificate is your insurance carrier’s method of telling the state that your required financial responsibility for driving is no longer in place.

Reinstatement Fee Submission Form

When you are eligible to have your driving privileges reinstated, you will receive a Reinstatement Requirements Notice from the Indiana BMV. This notice will have specific details on what you need to do to drive legally again in the state.

It will also tell you how to pay your reinstatement fees. If you cannot find your form or did not receive one, you can use this form to pay your reinstatement fee via mail.

No matter what type of insurance coverage you are legally required to have or want to have for your vehicle, you can save money by using an online price comparison tool.

These tools allow you to compare several different auto insurance companies, policies, and prices all in one place so that you can choose the auto policy that best fits all of your needs.

Enter your zip below to compare quotes for free!