Projected savings are expected to influence policy costs since analogs often cost less than original spare parts. As of today, an extended OSAGO tariff corridor will begin operating, adding a new dynamic to pricing.
Naturally, OSAGO policy prices will respond to these changes. For some drivers, premiums may rise, while a specific group could see prices fall or stay stable.
According to industry leaders, undervalued segments of insurers are likely to see the most pronounced price increases. Yet many car owners are careful and disciplined drivers who rarely cause accidents. When fault is not theirs, insurers typically do not pay out claims. For these owners, the cost of a policy may not rise as much as for higher-risk drivers, even amid rising spare part costs, notes a prominent industry executive.
The competitive landscape among insurers has kept price spikes in check for over a year. In some cases, premiums for well-qualified customers may even be lower than in earlier periods. For instance, in the second quarter of 2022, one out of three drivers benefited from the maximum possible OSAGO discount.
Additionally, it’s important to remember that a single car owner can be evaluated differently by different insurers. If a price seems too high given an accident-free history or other factors, shoppers can compare offers from multiple providers to identify the best option for their situation, the executive explains. (Source: RG)