The updated edition does not reflect the sharp spike in spare parts and component prices that occurred in March, and as a result the calculated compensation may fall short of covering repairs after a collision.
The Russian Union of Auto Insurers noted that prices stayed largely unchanged compared with the previous edition. Yet there is a positive angle—this will not drive up OSAGO policy costs for the foreseeable future for drivers in the region and beyond.
Nevertheless, the payments are expected to rise gradually. The next review of insurer directories is scheduled in three months, and RAMI together with the Bank of Russia has already initiated this process to monitor adjustments.
“With price increases sweeping across nearly all goods, services, and products, keeping costs under control where possible is essential. OSAGO remains a socially important auto insurance policy, and insurers aim to shield car owners from adverse changes as much as possible. The updated manuals in effect will enable this protection. There is also an expectation that new logistics networks will be built for the supply of spare parts, reducing the risk of overpricing caused by supply chain bottlenecks”, notes Evgeny Ufimtsev, Executive Director of the RSA, as quoted by Izvestia. (RSA)