The Finance Ministry expects a significant rise in price of insurance policies will not

© RIA Novosti / Maxim to Bogodeeva in photobacteria of insurance policy. . Archival photoThe Finance Ministry expects a significant rise in price of insurance policies will not© RIA Novosti / Maxim to Bogodeeva the image Bank

The Finance Ministry expects that implementation of its proposals for changing the order of calculation of tariffs OSAGO will not lead to a significant increase in the price of insurance policies, reported the press service of the Ministry.

«The Ministry of Finance submitted to the government developed jointly with the Bank of Russia the bill to install for car owners more than fair rates», — stated in the message. «It is expected that implementation of these proposals will not lead to a significant increase in average premiums on contracts of insurance», — said the press service.

The bill gives insurers the right to determine the approach to the application of base rates of insurance tariffs within their maximum and minimum values, regulated by the Bank of Russia.

«The specific value of the base rate will take into account the experience of the driver, driving habits, the presence of repeated gross violations of traffic rules. in addition, the draft law provides for the reform of the system of bonus-Malus – to exclude cases of assignment to the driver of the vehicle of different classes, values of this coefficient and «zeroing» driving history when buying a new car», — says the Finance Ministry.

The next stages of the bill provides for the abolition of coefficients that depend on engine power (from 1 September 2019), and from the territory of prior use of vehicle (from 1 September 2020).

In connection with the repeal of the above factors, the bill provides for the use by insurers of a broader tariff corridor for the base rate: from September 1, 2019, it is proposed to expand by 30%, and from September 1, 2020 by 40% as against to carrying to the current rates. «The bill gives the Bank of Russia the powers to control the validity of applied by insurers of insurance fees, in order to prevent their unwarranted overstatement», — assured the Ministry of Finance.

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