Automobile insurance will rise in price more than planned

10 October 2018

The Finance Ministry has proposed new amendments of the law on CTP

it's the middle of autumn, and more scheduled for the end of summer and the reform of the insurance until the end and not formed. The main changes have long been known: the Central Bank proposes to expand the base rate will increase by 20% up and down. Thus, if today it is set at 3432-4118 rubles, after the approval of the reform will be 2746-4942 rubles. Now, however, "Vedomosti" become famous interesting clarification. It turns out that the price of insurance can change more than anticipated.

the latest amendments to the law developed by the Ministry of Finance. While the Agency does not disclose the details, but the source of "Vedomosti" has revealed all the cards. So, from September 1, 2019, rates will be increased by 30 %, and from 1 September 2020 of 40 %. The maximum value of the policy remains the same: it can exceed three times the maximum base rate.

will Not come without the reform of the system coefficient. From the same date the Finance Ministry proposes canceling the power factor (from 1 September 2019) and the regional rate (from 1 September 2020). It is assumed that given the cancellation of these coefficients is associated a more rapid expansion of basic rate than previously estimated.

Previously, the insurance company opposed the abolition of the coefficients, however, they supposedly like the new plan of Finance. President of the Russian Union of motor insurers (RAMI) Igor Yurgens considered such reform next steps towards a further release rate insurance.

the Ministry of Finance Also proposed a new indexes. In particular, they talked about binding the value of the policy to the amount of fines. Previously, such an idea spoke. While the initiative looks quite reasonable. On the one hand, reckless drivers are indeed much higher chance to get into an accident than those who meticulously follows the rules. On the other, insurance companies will get a chance to at least someone "get even". Third, law-abiding motorists as a result of such actions will not be affected.

the Ministry of Finance Also talked about some very very utopian ideas. For example, he proposed to introduce a coefficient, which enhances the price of insurance for those often dramatically slows down and rebuilt. However, in the current environment to track the actions of each driver unreal: this requires a telematics device. Even if we assume that in the future such data to be taken off the system "ERA-GLONASS", then there is a problem in the storage and processing of huge data array.

the Final change may relate to a new type of insurance: it will be possible to buy over three years.