Accident Reporting – SR 1-21
A Safety Responsibility SR-1 accident report must be submitted within thirty (30) days when damage to the property of any one person is in excess of $1,000.00 or results in the injury or death of any person regardless of who is at fault.
Financial Responsibility After An Accident Requirements
- Proof of Insurance: A driver shall provide proof of liability insurance of $25,000, $50,000 and $25,000 limits that are equal or greater than the State of Arkansas requirements. A Transportation Network Company driver, a Transportation Network Company on the driver’s behalf, or a combination of the two shall provide primary automobile insurance if the TNC driver is logged onto the TNC digital network and either not engaged or engaged in a prearranged ride. If not engaged in a prearranged ride, the liability insurance requirement is $50,000 for death and bodily injury per person, $100,000 for death and bodily injury per incident, and $25,000 for property damage. If engaged in a prearranged ride, the liability insurance requirement is at least $1,000,000 for death, bodily injury, and property damage.
- A deposit of security as tabulated by this Department.
- A written release of liability signed by the other party in the accident.
- A final civil adjudication of non-liability from a court of competent jurisdiction. Trial in traffic court is not an adjudication of non-liability.
- A covenant not to sue. Must be in writing and signed by the adverse party and notarized.
- A written agreement which has been accepted by the appropriate parties to the payment of damages in installments.
- Proof that the adverse party or his liability insurance carrier have reimbursed you for your property damage.
- A written request to this Department for a hearing to determine if there is a reasonable possibility that a judgment may be rendered against you as a result of the accident must be received within twenty (20) days of receipt of the notice of security requirement or suspension. If the hearing indicates such judgment does not seem likely, then the Department may not require the security deposit.
- A copy of the bankruptcy petition with a list of creditors naming all parties.
Financial Responsibility Although A Ticket Is Not Issued To You
Although a ticket may or may not be issued to you at the scene of an accident, the possibility of a judgment being entered against you can still exist, requiring that you show financial responsibility.
