Understanding Ohio’s FR Bond and whether it’s the same as an SR22/SR22 Bond

Cleveland skyline over Interstate 90
February 27, 2019

If you live in Ohio, there’s a special option available to you to get the affordable auto insurance you need. The FR (Financial Responsibility) Bond could be what you’re looking for. We’ll help you learn about Ohio FR Bonds and how they work differently from what’s often called an SR22 or SR22 Bond.

How an FR Bond is different from an SR22 Bond in Ohio

The key difference: an FR Bond is a type of insurance coverage by itself, while an SR22 is something that’s added to an existing insurance policy and filed with the state to show them you have the necessary required coverage.

When someone tells you that you need an SR22, what they’re really saying is that you need to file the appropriate proof showing you carry the legally required minimum car insurance coverage.

You don’t need to have an SR22 added to an FR Bond. You can use an FR Bond in Ohio to satisfy the proof of insurance requirement in many situations. An FR Bond is appropriate when:

  • You don’t own any vehicles, but still drive. For example, perhaps you borrow your spouse's car to run errands.

  • You own a vehicle and it doesn’t need physical damage coverage because:

    • The car is an old model

    • There is no lienholder – aka a lender such as a bank that legally has an interest in your car until you pay it off in full

    • You want a lower cost option to meet the minimum requirements for insurance

How an FR Bond works

Think of an FR Bond as a type of insurance that’s made just for you and provides the minimum liability coverage the state requires. For example, it can help protect you when you:

  • Borrow your roommate’s car and they forgot to pay their insurance bill

  • Own a car and then decide to sell it—but still drive your parents' vehicles

  • Are told to get an SR22, but don’t drive very often because you don’t own a car

  • Own a car but only want to buy what’s needed to legally drive in Ohio

  • Are looking for a cheap insurance option that an FR Bond may provide

An FR Bond provides coverage for a specified amount of time, and you’ll have to renew it when your term expires, if you want it to continue.

Getting an FR Bond

Getting coverage via an FR Bond is very similar to buying other forms of car insurance. We offer a number of options for you to pay for your FR Bond, including paying all of the premium up front or making payments.

As soon as you purchase it, your FR Bond is issued immediately, and we’ll electronically send the information to the state at no cost—making you legal to drive the same day.

If your insurance coverage lapses

If your FR Bond lapses, we’re required to contact the Ohio Bureau of Motor Vehicles (BMV), since it was originally filed with them.

If you needed the FR Bond because the state or another entity told you to get one, the BMV may suspend your license or issue other consequences. You’ll also be without the coverage provided by the FR Bond.

If you didn't require a filing, there are no consequences with the BMV. However, you’d no longer be covered by the FR Bond when you drive.

FR Bonds may be a cheap car insurance alternative to more comprehensive insurance options. You’ll also find we also deliver quality coverage with friendly, top-notch customer service. Contact us at 800-334-4357 for a quote, and a licensed agent will be happy to help you.

The general information in this blog is for informational or entertainment purposes only. View our blog disclaimer.

*Data accuracy is subject to this article's publication date.

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