Translated material
OSAGO will rise in price by one and a half times
The Central Bank of Russia has raised the base OSAGO rates by 40 percent and increased the border of the corridor within which insurance companies can determine their rates to 20 percent. The corresponding decision will come into force on April 12, 2015.
The deputy chairman of the Bank of Russia, Vladimir Chistyukhin , said that the basic OSAGO tariff for cars for individuals will be 3,432-4,118 rubles. In some subjects of the Russian Federation, it will be even higher due to the increase in regional coefficients. The Central Bank decided to raise these ratios in 11 regions and lower them in 10 regions.
The Central Bank said in a statement that the increase in tariffs is due to the adoption of amendments that provide for an increase in OSAGO payments for property damage from 120,000 to 400,000 rubles, and for causing harm to health - from 160,000 to 500,000 rubles. These amendments entered into force on October 1, 2014.
The need to change insurance rates for OSAGO is associated with the accumulated imbalances in the OSAGO system, which negatively affected the financial availability of this type of service and led to the actual impossibility of purchasing an OSAGO policy in a number of regions.