The Bank of Russia plans to extend the tariff corridor insurance, so the insurance company could give you a lower rate neat drivers and a higher rate — those who lead risky and violates the rules of the road. The corresponding draft guidance published on the regulator’s website.
August 24, 2020 enter into force amendments to the law on insurance of individual tariffs. The basic rate tariff will cease to be the same for all drivers in the same area, and will be determined by the insurer to each owner individually, depending on his risk profile.
In addition to the factors directly specified in the law (such as the presence of gross violations of traffic rules), the insurers when establishing the tariff will take into account other circumstances. This can be the age of the vehicle, its mileage, marital status and presence of children the driver installation on the vehicle telematics devices and other factors. The use by insurers of all available information will increase the accuracy of separation of drivers with low and high level of risk and therefore will more accurately reflect the actual price of the policy risk.
As the experience of the first phase of individualization of tariffs OSAGO, insurance companies are interested in good drivers and compete for such clients. So, as a result of the expansion of tariff corridor in early 2019, 20% down, and up, the average premium for insurance in 2019 decreased by 4.8%.
The draft order provides for the expansion of borders of a corridor for tariffs on passenger cars to individuals 10% down and up, allowing in a greater degree to differentiate rates for drivers with different levels of risk.
For public transport (regular buses, trolleybuses, trams) lowering the lower boundary of the rate will be 5%, the upper limit of the tariff will remain unchanged.
Due to the high accident rate, a significant difference between the level of drivers and a significant undervaluation of tariffs the largest expansion of the corridor — 30% down and up — intended for a taxi. A wider corridor will effectively influence the ruble on unruly taxi drivers and reduce the rate neat drivers.
The draft guidance also identifies factors that are discriminatory, which the insurers will not be allowed to consider in determining the base rate. These include national, racial, linguistic affiliation, religion, official position.
It is planned that the new tariffs will be effective simultaneously with the entry into force of the amendments to the law on OSAGO.
Photo preview: AN Images Design / Shutterstock / Fotodom