West Virginia SR22 insurance, or substandard risk insurance, is motor vehicle insurance that is issued to an individual that is considered to be a high risk. A substandard risk insurance applicant is someone that presents a greater exposure to loss involved with a motor vehicle than what is normally considered average.
West Virginia State Code §33-6-31c. states that an individual maybe considered a substandard risk if:
• They have a record of traffic accidents;
• Have a record of traffic law violations;
• Have undesirable occupational circumstances; or
• Have any other valid underwriting consideration.
The State code further specifies that a substandard risk rate is a rate or premium charge that reflects the greater than normal exposure to loss that is assumed by an insurer writing insurance for a substandard risk. In addition, it states that a notice must be printed in bold faced, colored, or contrasting type on the insurance application that the coverage you are applying for has higher premiums than those generally applied to average risks. Furthermore, you can be eligible for a “standard” policy rate if you maintain your insurance coverage for three years and have no traffic accidents or violations.
An example of when this situation may apply is after a conviction for Driving Under the Influence (DUI). West Virginia requires convicted offenders to carry SR22 insurance for a minimum of three years following the conviction.