The Virginia Affidavit of Financial Responsibility is a legal document that verifies an individual's ability to fulfill their financial obligations in the event of a car accident or any other incident that results in property damage, personal injury, or death. This affidavit is required by the Virginia Department of Motor Vehicles (DMV) and serves as proof that the driver possesses the necessary financial resources to cover potential liabilities. There are two main types of Virginia Affidavits of Financial Responsibility: 1. Owner Operator Certificate (SR-22): This type of affidavit is typically required for individuals who have been convicted of certain traffic offenses, such as driving under the influence (DUI), reckless driving, or driving without insurance. It is also applicable to drivers who have had their licenses suspended or revoked due to various violations. The purpose of the Owner Operator Certificate is to reinstate the driving privileges of these individuals and ensure they maintain continuous liability insurance coverage for a specific period of time. 2. Non-Owner or Operator Certificate (FR-44): The Non-Owner or Operator Certificate is necessary for individuals who do not own a vehicle but still need to provide proof of financial responsibility. This type of affidavit is generally required if the individual has been convicted of more serious offenses, such as DUI-related accidents involving injuries or fatalities. The FR-44 certificate ensures that the driver maintains higher levels of liability insurance coverage compared to the standard minimum requirements. Both types of affidavits require the individual to obtain liability insurance from an authorized insurer licensed to operate in Virginia. The insurance policy must meet the minimum coverage limits set by the state, which include $25,000 for bodily injury or death of one person, $50,000 for bodily injury or death of two or more people, and $20,000 for property damage. It is crucial to note that failure to maintain continuous insurance coverage or comply with the conditions outlined in the Virginia Affidavit of Financial Responsibility may result in license suspension, fines, or other penalties imposed by the DMV. Therefore, it is essential for individuals to fulfill their financial obligations by obtaining the appropriate insurance coverage and ensuring its continuous renewal throughout the specified periods. In summary, the Virginia Affidavit of Financial Responsibility is a legal requirement for drivers to prove their ability to cover potential liabilities arising from car accidents or other related incidents. The two main types of affidavits are the Owner Operator Certificate (SR-22) and the Non-Owner or Operator Certificate (FR-44), depending on the specific circumstances and convictions of the individual. Compliance with the affidavit's conditions, such as obtaining adequate liability insurance coverage, is essential to maintain driving privileges and avoid potential penalties.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.