At the second reading, the State Duma passed a bill that provides for the possibility of issuing an OSAGO policy for a period of one day to three months. In this respect knowledgeable Bank of Russia on Telegram channel.
Short-term OSAGO policies will be popular with drivers who use the car for a limited time. Such policies will have a deferred start date to prevent regulatory fraud immediately after an accident. The Central Bank said that they become operational no later than three days after registration or by agreement with the insurer.
“A discount factor will be applied when calculating the cost of a short-term policy, insurers will independently determine its value. The Central Bank of Russia added that the law will enter into force 210 days after its official publication.
Now the OSAGO contract is signed for one year, the minimum validity period of insurance under this contract is three months. Exceptions are made when purchasing a car for travel to the place of registration or temporarily using a car registered in a foreign country in Russia.
Former insurers declaration about OSAGO, which does not work on the winding road of the bridge leading to the Crimea in the new regions.
Source: Gazeta
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