When calculating the cost of the CTP policy, up to two dozen different parameters are now used – from the brand and age of the car and the gender of the driver to criminal prosecution and the availability of real estate insurance.
Many of them were taken from the casco tariffication, said Sergey Demidov, Managing Director for Auto Insurance Renaissance Insurance. These include the make, model, age and mileage of the vehicle.
The gender and age of the client, the year the driver’s license was issued are also taken into account, said Igor Ivanov, Deputy General Director of RESO-Garantia. In addition, the insurance company will pay attention to how often the car needs repairs, how many insured events have been recorded, where the vehicle is registered, how long it has been in ownership, whether it is secured by a bank, he added.
The changes, which came into force on September 5, are intended to reduce the price of the policy for accurate drivers and make those who more often violate traffic rules and get into accidents pay more. But in reality, the calculations are so complex that it is unclear whether the policies will become cheaper. The insurers themselves, interviewed by Izvestia, acknowledge the fact that at first it is even possible to increase the cost of car insurance for neat drivers.
The formation of the cost of OSAGO for the client is becoming completely opaque, experts warn. Since car insurance is a compulsory type of insurance and the company cannot refuse it, it is through individualization that the closing of the risks of “shortage” for emergency drivers will be achieved.
Read more in the exclusive material of Izvestia:
From auto by thread: OSAGO has risen in price and has become opaque
