In the third quarter of 2021, there was a decrease in sales of new cars and the number of concluded auto insurance contracts by 11.2% compared to the same period last year, however, the amount of fees paid by insurers on them increased by 15.4% – to 54.8 billion rubles, it can be seen according to the statistics of the Central Bank. At the same time, the average cost of comprehensive insurance increased by 29.8% and amounted to 35.1 thousand rubles.
Insurance companies have confirmed this trend. For example, in Absolut Insurance and Rosgosstrakh, the price of hull insurance for the last quarter increased by 20%. The main reasons for this are the growth in the cost of cars, spare parts and prices for repair work, noted Olga Astashkina, director of the Casco portfolio management department of Rosgosstrakh.
According to her, during this period, fewer full-coverage policies were also sold than in the same time in 2020, and the demand for voluntary auto insurance will continue to decline until the market situation stabilizes.
Insurers and experts predict further growth in the average insurance premium. Policies are becoming more expensive due to broken supply chains, inflation and higher wages, as well as the weakening of the ruble, since many parts are brought from abroad, said Nikolai Pereslavsky, an employee of the economic and financial research department of the CMS Institute. In his opinion, the average price of comprehensive insurance could grow by another 30% in the last quarter of 2021 and by 15-20% in 2022.
Read more in the exclusive material from Izvestia:
Policy shift: the average price of comprehensive insurance for the year increased by a third
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
