Technically, SR-22 is not automobile insurance. SR stands for safety responsibility, and SR-22 is a form that an insurance company files with the state testifying that a driver has insurance coverage that meets that particular state's minimum requirements.

Drivers who need SR-22 are those found guilty of a major traffic violation. Although the infractions may vary slightly from state to state, generally speaking, a driver guilty of any of the following must obtain an SR-22 before resuming driving.

• Driving under the influence (DUI) or driving while intoxicated (DWI)
• Driving without auto insurance
• Driving with a revoked or suspended license
• Being ticketed for too many major traffic violations within a short period of time

FR-44 stands for fiscal responsibility and only Virginia and Florida require it. The FR-44 is similar to SR-22 in that committing the same infractions will trigger the requirement, but differs in that while SR-22 proves the state's minimum coverage, FR-44 requires coverage in excess of the respective state's minimum.

Virginia's FR-44 insurance requirements are double the SR-22 (minimum) requirements and set the limit at 50/100/40 for bodily injury and property damage. This translates to $50,000 in the case of bodily injury or death of one person, $100,000 for two or more and $40,000 for property damage.

In Florida, filing an FR-44 proves that a driver has higher coverage as well. Those affected must prove they have a minimum of 100/300/50, again $100,000 and $300,000 relating to injury and death, and $50,000 applied to property damage.

Although residents should check with their own particular state, generally speaking, if a driver complies with all local traffic laws and is free of citations for three years, he/she is no longer required to register an SR-22 or FR-44 form.

This brings us to SR-26, which is the form an insurance company files either when a driver's probationary SR-22 term has been successfully completed, or the policy is terminated for another reason. If the SR-26 is filed because the driver proves he has changed his unsafe driving habits for three years, or whatever the specified period,  savings will follow in the form of eventual reduced rates and the absence of an annual filing fee.

However if an SR-26 is filed before the probation period has been successfully served (usually three years), the driver will have to deal with the state's laws. Some require finding another insurance company to fill out the rest of the period while others require starting from scratch with a new company, thus extending the added expense.