The Central Bank has changed the rules for calculating the cost of repairs under compulsory motor third-party liability insurance (OSAGO).

The Central Bank has changed the rules for calculating the cost of repairs under compulsory motor third-party liability insurance (OSAGO).

      Starting from July 11, updated rules for calculating the cost of repairs under compulsory motor third-party liability insurance (OSAGO) will come into effect. As reported by the press service of the Central Bank, the new procedure is expected to increase average payouts by 10%.

      Now, insurance companies are required to determine the average price of consumables without taking discounts into account. Additionally, when calculating the cost of spare parts, analogs will not be considered if they are cheaper than the original by 70% or more.

      Furthermore, insurers will include the costs of seals, stickers, and other disposable parts in full in the repair cost. Previously, there was a limit of 2% of the price of the replaced spare parts.

      The new editions of the price reference books are to be approved by the Russian Union of Auto Insurers within the next three months.

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The Central Bank has changed the rules for calculating the cost of repairs under compulsory motor third-party liability insurance (OSAGO).

The Bank of Russia has established a new procedure for determining repair costs under compulsory motor third-party liability insurance (OSAGO), which is expected to increase average payouts.