OSAGO prices fell in 2017 for the first time in 13 years

In 2017, the collections of Russian insurers for compulsory motor liability insurance decreased for the first time since 2004 - by 3% - to 228.125 billion rubles, the Russian Union of Auto Insurers reported. For the first time in 13 years, the average cost of one policy fell - by 4% to 5,800 rubles. At the same time, insurance companies have to pay more to their clients - the average payment under compulsory motor liability insurance increased by 10% to approximately 75.5 thousand rubles, and the total amount of payments increased by 9% to 181 billion rubles.

• To the losses of insurers should be added at least 17 billion rubles of overhead payments in the courts (for example, fines and penalties, fees for the services of experts and traffic lawyers), which RSA does not include in its data.
• The drop in sales is explained by the fact that car owners do not have enough money for policies: they either refused to buy insurance or could not afford it. There are now 4-6 million drivers in Russia who drive without insurance. In addition, there are many fake policies on the market or real ones “lost” from insurers who have lost their licenses.
• According to him, the decline in the market was also affected by the sharp reduction in work in the auto insurance market of its former undisputed leader, Rosgosstrakh.
• The largest collection of premiums for compulsory motor liability insurance in 2017 was from RESO-garantiya (36.1 billion rubles), while the former leader Rosgosstrakh had a drop from 54.6 billion to 31.8 billion rubles.

What's in it for me?

Car insurance will not become cheaper in the future - the Ministry of Finance is preparing a bill to liberalize compulsory motor liability insurance tariffs, which will allow insurers to raise prices.

Artem Gubenko, The Bell