Insurance ratio: calculation formula, rates and payments

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

The price of the insurance contract is calculated individually for each car. It depends on the insurance coefficient and the base rate. In order to calculate the final premium yourself, you need to use all the coefficients and know the specific value of each.

Legislative acts

The calculation of the insurance coefficient is based on laws.

• Law "On OSAGO". It describes the rules for calculating premiums under contracts, and also approved the list of coefficients to be applied.
• Instruction of the Central Bank of the Russian Federation 3384 - U. This act indicates all the values \u200b\u200bof the coefficients that need to be applied during the calculation.

Price

In order to calculate the final premium, insurance coefficients are applied. The only action that is used in the calculation process is the multiplication of all data. Depending on the characteristics, tariffs can be raising or lowering. Therefore, the cost of the contract varies for all drivers.

Final bonus=base rateodds (territoryagelimitbonus-maluspowerperiod).

This formula is used by all insurance companies and is mandatory.

Target dependent fare

This indicator indicates the region and locality of vehicle and person registration. The coefficient will be higher in large cities (with high traffic congestion), where many accidents occur. The value of the tariff in small towns and villages will be significantly lower than in megacities, as there are fewer registered vehicles and few traffic accidents.

But how to determine the value of the tariff, if the owner (individual) is registered in one region, and the car in another? In this case, the insurance coefficient for the region will depend on the person's registration. For example, the owner of the car is registered in Ufa, and the vehicle was registered in St. Petersburg. The tariff will be used according to Ufa data.

Identification of the tariff for a legal entity is the opposite and depends on the registration of the organization. For example, if the organization was registered in St. Petersburg, and the funds are registered in Moscow, then the tariff will be taken based on the data of the first city.

KBM

The bonus-malus coefficient is of great importance when calculating the final premium. As the name implies, this rate can raise or lower the value of the premium, the result will depend on the driver. If a driver drives a car every year without getting intotraffic accidents, the insurance companies will be required to increase the discount. Thus, the more years the driver drives without accidents, the greater the discount. The maximum discount can be fifty percent, while the MSC becomes 0.5 (the person is awarded the thirteenth grade).

But if the driver gets into an accident through his own fault, then most of the discounts will be lost. The increased coefficient for insurance is 2.45. That is, the cost of the policy can increase almost three times due to the fault of the driver himself. In this case, the increasing coefficient will be valid for three years. And after this period, it will begin to gradually decrease (if there are no other accidents). But if several accidents occur during the year, the price of the insurance contract will increase several times. This is usually experienced by beginners.

This coefficient is not assigned to the car, but is personal for each driver. If 2 people are included in the insurance agreement, then each will have their own BMF, but the largest will be used in the calculation. For example, drivers, Popov and Sidorov, are included in the contract. Popov's tariff is 0.95 (grade 4), Sidorov's is 0.85 (grade 6). During the calculation, the program will choose the maximum value equal to 0.95.

In order to calculate the insurance coefficient, you need to know from what moment the driver began to fit into the insurance contract, and whether there were accidents for the entire period. For example, if the driver was included in the contract for three years, and there were no traffic accidents that occurred through his fault, then the discount will be fifteenpercent, and the tariff will be equal to 0.85.

An important condition for obtaining discounts and increasing the accident class is the inclusion of the driver in the insurance. If he is not the owner of the car and is not included in the list, then he will not have discounts.

Also, if a person has not been included in the contract for a whole year, then all discounts will be lost.

Checking the CBM

In order to check the coefficient of insurance, you must use the official website of the PCA. The PCA database contains all the information about OSAGO insurance contracts. If motor vehicle owners purchase insurance contracts from licensed insurance companies, the system will be able to provide the necessary information.

You can also find out the coefficient of insurance from insurance companies. During the insurance process, the employee can provide this information to his client.

On the OSAGO insurance agreement, opposite the driver's name, his class is indicated, with its help you can find out the rate. If the accident class is three, then there are no discounts. For the fourth class, the discount will be equal to five percent. And for each class, a discount of 5% is added. So, with the seventh accident class, the discount will be thirty-five percent.

Loss of discounts

Sometimes there is a loss of discounts and a decrease in the accident class. This is due to the fact that a person during the execution of the agreement does not check personal data and put signatures. Any mistake in personal data will result in the loss of all discounts.

Also discounts are lost ifthe owner of the car changed the rights and did not notify the insurance company about it. Also, using an insurance policy with old data is a violation of the law. In order to save the class, you need to go to the office of the insurer in time and write an application for changing personal data. The employee will issue a new policy with updated data. This treatment is free.

The action of KBM in different companies

Often, drivers who have committed a traffic accident move to another insurance company, hoping that information about the accident is stored only in the database of one insurer. Actually, this is a wrong assumption. All insurance companies use the same system. They are required to provide information to the RSA database. Therefore, if the owner of the car moves to another company, then the KBM will remain.

Power

Which insurance factor also has an impact during premium calculation? When calculating the price of the insurance agreement, the power of the car is also used. The higher the power, the higher the tariff will be.

n/n	Power, measured in horsepower	Fare
1	Up to 50	0, 6
2	above 50 to 70	1, 0
3	above 70 to 100	1, 1
4	above 100 to120	1, 2
5	above 120 to 150	1, 4
6	above 150	1, 6

Policy term

Standard term of the agreement is twelve months. But not always the owners need a car during the year. If a person uses the car only during the season, for example, in summer, then he can conclude a contract for three months. In this case, the tariff will be 0.5. If, in the future, the driver changes his mind, he will be able to extend the agreement. In this case, he will need to pay the remaining amount.

Term of agreement	Fare
3 months	0, 5
4	0, 6
5	0, 65
6	0, 7
7	0, 8
8	0, 9
9	0, 95
10 or more	1, 0

Restriction factor

According to the legislation, if the car owner wants to buy an insurance agreement with a list of drivers, then tariff 1 will be applied. But, when choosing insurance without limiting the list, tariff 1, 8 is taken.the insurance coefficient is determined by the possibility of using the vehicle by any driver, regardless of experience and age. By using a higher rate, insurance companies try to avoid additional costs.

Coefficient depending on age and experience

The older the person, and the more experience he has in driving a motor vehicle, the cheaper the insurance will be. Legislation has established a kind of threshold equal to three years. If a person has been driving a motor vehicle for three years and has not been involved in a traffic accident, the fare will be reduced.

Also, the rate depends on the age of the beginner. If the driver has reached a certain age (twenty-two years), then the tariff rate will decrease. These thresholds were set by specialists based on the statistics of a traffic accident. According to statistics, a significant proportion of accidents are caused by newcomers.

Age/ seniority	Fare
Up to 22 years old with driving experience up to 3 years old	1, 8
More than 22 years of driving experience up to and including 3 years	1, 7
Under 22 years old with driving experience over 3 years	1, 6
22+ years with 3+ years driving experience	1, 0

Base rate

The base rate is set by the Central Bank. The bank has established a kind of corridor that helps insurance companies to change the amount. So, today companies have the right to choose an amount from 3432 to 4118 rubles.

In fact, almost all insurance companies use the maximum value.

The corridor was created so that companies could compete with each other. With a fixed amount, insurers could not compete for customers.

But companies that have been on the financial market for a long time and have a sufficient number of customers do not seek to lower the contract price.

Example

In order to understand the calculation algorithm, it is necessary to consider the actions on an example.

For example, the owner of the funds is registered in the city of Ufa. He owns a Skoda rapid with 125 horsepower. The owner is 55 years old, the experience is 20 years (there have never been any accidents). To get the total amount, you need to substitute the values in the formula.

• The base rate will be maximum - 4118 rubles.
• The territory insurance coefficient is 1, 8.
• Age and seniority allow the owner to get the maximum discount of 50%. In this case, the tariff will be equal to 0, 5.
• The tariff for the restriction will be equal to one, since only the owner will be included in the contract.
• The policy period is one year, so the rate becomes 1.
• The coefficient for car insurance by power will be determined from the table and will be equal to1, 4.

Premium=41181, 8051, 4=5188, 68 rubles.

The example shows that thanks to KBM, the owner of the car was able to significantly reduce the total amount.

Online counting

It can be difficult to calculate the insurance premium on your own. In order not to waste time, you can use the official websites of insurance companies or the PCA system. In order to get an accurate answer, you will need to enter personal data and information about the car. If you need to include several people in the contract, then you will need to enter full data about them. Also, the PCA system will help you check the coefficients for insurance and understand the values. If the owner of the car believes that he has the wrong value of KBM, then he will be able to write a request. The Union will consider the letter and respond within a week. If there really was a loss of discounts, then they will be restored.

Payouts

There is a limit on payments for the OSAGO insurance policy. It is:

• 500000 rubles - for life and he alth;
• 400,000 rubles - to restore the vehicle.

If there was an insured event and the damage to the injured party amounted to the largest amount, the company will pay the maximum possible 400,000 rubles. The balance will be paid by the person responsible for the accident.

The amount of payment does not depend on the size of the insurance premium. That is, despite the fact that when buying OSAGO someone pays more, someone less, everyone has the same limit.

Conclusion

Insurance odds are bigvalue when calculating the final premium. There are tariffs that cannot be changed (capacity). But there are also many tariff rates, which are influenced by motor vehicle drivers. In order not to overpay under the OSAGO insurance agreement, you must comply with traffic rules and regulations. In no case should you leave the scene of a traffic accident, as these actions will later be important when calculating the total amount. It is worth noting that law enforcement officers within three days can find a person who left the scene. Any illegal actions of drivers on the roads will be identified and will lead to an increase in the premium under the OSAGO insurance contract.

Also, so that the driver does not lose the accumulated discounts, he must be included in the list under the insurance agreement every year. Otherwise, all discounts will be lost and the class will be reduced to 3.