OSAGO insurance policy may rise in price by 60% for some drivers

The cost of OSAGO for some drivers may rise in price by more than one and a half times, warned the head of the All-Russian Union of Insurers Igor Yurgens. This is due to the initiative of the Ministry of Finance to quadruple payments to victims of road accidents.

In an interview with Izvestia, Yurgens said that the new CMTPL regulation could lead to a rise in the price of the policy by up to 60%.

Igor Yurgens Head of the All-Russian Union of Insurers If we evaluate very preliminary, then the new regulation on OSAGO may require an increase in the cost of the policy up to 60% for some consumers. At the same time, car owners, who rarely become the culprits of an accident (and there are most of them in our country), will hardly notice a rise in price.

Yurgens noted that over the past four years, the average cost has remained at the level of 5.2-5.3 thousand rubles. “An increase in this amount for some family budgets can be significant, so amendments to the OSAGO law should provide for this,” the head of the union noted. At the same time, he said that he expects the draft law to appear at the beginning of 2022.

• Earlier that the Ministry of Finance is preparing a bill to increase payments to victims of road accidents by four times (up to 2 million rubles), reported Vedomosti , citing sources. The ministry also wants to ban insurance companies from taking vehicle wear and tear into account when calculating payments, they said.