At the end of last year, the number of comprehensive insurance policies in Russia increased by more than a third. In this respect reported Central Bank press service.
“Demand for car insurance increased in 2023: The number of policies sold to citizens increased by more than one third. As a result, one in every six vehicle owners whose liability is insured under MTPL also has their vehicle insured under motor insurance. A year ago, the ratio of the number of voluntary policies to the number of mandatory policies was one to eight,” notes the Bank of Russia.
The press service explained that the high demand for comprehensive insurance is associated with a sharp increase in sales of new cars and the popularity of cheap car insurance programs with limited risks. Drivers also began to insure used cars more frequently.
The Central Bank added that premiums in the MTPL segment increased by 18.8% to 324.4 billion rubles, and the number of contracts increased by 3% to 324.4 billion rubles.
Before that the Central Bank connected Freezing of foreign car prices due to the strengthening of the ruble and the presence of significant car stocks.
Previously appeared The timing of when manual cars will disappear in Russia.