OSAGO for emergency drivers will rise in price by 26% due to rising prices for spare parts

The Central Bank will increase the range of possible OSAGO prices both up and down. The maximum allowance for emergency drivers will be 26% of the current threshold, informs Telegram channel of the Bank of Russia. Public discussion of this project will last until June 28.

As before, the cost of the OSAGO policy will be calculated individually, based on the number of accidents involving the driver. But the price band will widen: “bad” drivers will have to pay more, and “good” drivers will get an additional discount. This is how the Central Bank reacted to the shortage and a sharp rise in the price of auto parts.

According to the Russian Union of Motor Insurers (RSA), parts that are most often damaged in accidents have risen in price by an average of 28.7%. Based on this, the regulator raised the maximum price of OSAGO by 26% (and reduced the minimum cost of the policy for accident-free drivers by the same amount).

As a result, insurance for cars will cost from 1646 to 7535 rubles (now – from 2224 to 5980 rubles). The idea of ​​raising its price is to compensate for the increase in the cost of auto parts due to drivers who often get into accidents.

This is not the first time that the Central Bank has expanded the OSAGO price corridor to individualize the tariff taking into account the accident-free driving experience: the previous time the price range was extended by 10% in both directions.

On June 19, new reference books began to operate in Russia for estimating the cost of auto parts, according to which OSAGO payments are calculated, taking into account the problems that arose in the auto parts market after the start of the special operation. Some parts manufacturers left Russia, and importers had problems with logistics. The PCA suggested that this could lead to a further rise in the cost of OSAGO, transmits RBC.

Bonus-malus ratio

The bonus-malus coefficient (MBM), on which the price of OSAGO depends, is an indicator of accident-free driving. The driver is given a discount for accident-free driving, but a surcharge is charged for frequent accidents. The longer the accident-free experience of a motorist, the cheaper insurance costs him.

The final cost of OSAGO is the sum of the base rate multiplied by various coefficients – regional, car power, driver experience, including bonus malus. When applying for a car policy, its cost is calculated according to the data of the “badest” driver allowed to drive this particular vehicle.

There is also an option for issuing OSAGO with an unlimited number of drivers: then the bonus-malus coefficient will be fixed, no matter which driver gets behind the wheel of the car, but in any case lower than the maximum BMR of the “bad” driver. Unlimited insurance is beneficial if at least one of the drivers has a coefficient higher than 2.32.

If the driver issues OSAGO for the first time, he is assigned KBM 1.7. In subsequent years, the coefficient increases or decreases depending on the accuracy of driving. The more insurance payments a driver receives, the more expensive his insurance becomes.

There are some cases in which the KBM can be “lost” – for example, when changing rights or changing a surname. In this case, the driver must report the changes to the insurance company, presenting supporting documents. This must be done not only for the sake of a discount, but also in order to avoid problems in the event of an accident: the insurer may refuse to pay out due to the fact that OSAGO was issued to a non-existent person or a document that has become invalid.

Previously reportedthat from September 2022, OSAGO in the form of a QR code can be issued in test mode through the State Services of Auto service. In addition, driver’s licenses will also be transferred to an electronic format, and from the end of 2021 in Russia such an opportunity is available for STS (vehicle registration certificates).

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