OSAGO calculation formula: calculation methodology, coefficient, conditions, advice and recommendations

Using the OSAGO calculation formula, you can independently calculate the cost of the insurance contract. The state establishes uniform basic rates and the coefficient that is used in calculating insurance. Also, regardless of which insurance company the owner of the vehicle chooses, the cost of the document should not change, since the tariffs should be the same everywhere.

Online calculation

If the owner of the vehicle wants to know the cost of insurance, but there is no desire to go to the office of any insurance company, then he can use the online calculator on the official websites of insurers. To do this, you need to choose an insurance company, go to the website, register, enter all the necessary information (passport data, driver’s license of all drivers, car passport), get the information you need. It is worth noting that the program may not give an answer if the owner of the vehicle does not have a diagnostic card. Therefore, before the manipulations you need to undergo a technical inspection, it is impossible to insure the car without a diagnostic card. Also, the answer may not be received if the technical inspection has been passed, but the information on the diagnostic card has not yet been entered into the general database.

Self settlement

The OSAGO insurance calculation formula is easy to use, but to get the exact result you need to have information on the tariff and coefficients. It is also important to know which fare for accident-free driving has been applied. The client may not know this information. The accuracy of self-calculation is not great. But if the owner of the vehicle has doubts about the calculation on the sites, then he can use this method.

The formula for calculating insurance premiums:

MTPL cost = TB * TK * KP * KVS * KS * KM * KO * KN * KBM.

Decryption

• TB - basic rate.
• TC - coefficient characterizing the territory.
• KBM - coefficient for accident-free driving.
• PIC - coefficient characterizing age and length of service.
• KO - coefficient showing whether there is a limitation.
• KM - coefficient characterizing a car in terms of power.
• KS - coefficient depending on the period of use.
• KN - coefficient indicating violations of the driver.
• KP - coefficient characterizes the required insurance period.

The OSAGO calculation formula is established by the Central Bank of the Russian Federation; it cannot be overestimated and underestimated. Therefore, prices in different companies should not differ. The difference in the amount can only be if the policyholder is offered additional services.

Base rate

In the insurance calculation formula for CTP insurance, there is the concept of a base rate. The basic tariff is a fixed amount, which is regulated by law in relation to all vehicles. This tariff is considered uniform for all car owners. But there are differences, the basic tariff depends on the type of vehicle. For example, the differences between the tariffs for cars and trucks will be very different. To calculate the coefficient, specialists use the value of bonuses and payments for a certain period of time. The tariff should be average so that the amount of payments is less than the premiums received for the purchase of OSAGO. Premiums should not be high so that car owners can purchase insurance. The central bank has the right to raise or lower the tariff once a year. The last time the rate went up in 2015.

Territory coefficient

The OSAGO policy calculation formula applies a territory-oriented tariff. For residents of settlements subordinate to the city, the tariff of this city is used. For individuals, the territory of use of the vehicle is determined by the place of registration of the owner of the vehicle. It is also worth considering where the car was registered. The vehicle must be registered at a nearby point from the place of registration of the owner.

In the OSAGO calculation formula for legal entities, the territory coefficient is determined based on the location of the organization, branch, which is indicated in the documents of the enterprise.

KBM ratio

This coefficient depends on the availability of insurance payments to a particular driver during the occurrence of an insured event, that is, in case of road traffic accidents that could have occurred in previous OSAGO agreements. One case insurance benefit is considered one reimbursement. With trouble-free driving, insurance companies reduce the fare for the driver. When acquiring a CTP insurance policy, this ratio can help to significantly reduce the price of the contract.

In the process of registration of the policy of compulsory motor liability insurance, it is necessary to carefully check personal data before putting a signature. If there is an error, albeit small, the loss of all bonuses may occur. Also, after replacing a driver’s license (series, document number are changed), you need to visit the office of your insurance company and make changes so that the coefficient does not change. If this is not done with the current policy, then during reinsurance in a year the changed rights will affect the bonus. All discounts accumulated over the years will disappear. If this all the same happened, then the client can apply to the PCA with a request to restore his bonus.

Coefficient characterizing age and length of service

In the OSAGO calculation formula, PIC has five types.

1. The tariff 1.8 is used when driving without restriction, that is, the insurance does not have a list of drivers, but anyone who has a driver’s license can drive.
2. Tariff 1.8, applies to people under 23 years of age with less than three years of experience.
3. A tariff of 1.7 and less is applied for persons who have reached the age of 23 years, but the experience is less than three years.
4. The tariff of 1.6 is used for persons under 22 years of age, but the experience is more than three years.
5. Tariff 1 applies to all drivers over the age of 23 years with an experience of more than three years.

Based on the above data, we can conclude that drivers with a short experience pay almost two times more than people with many years of experience. Also, MTPL insurance will be more expensive if the owner of the vehicle wants to make an unlimited list of drivers in his contract.

According to the OSAGO calculation formula, if several drivers must be entered in one policy, then the highest FAC tariff is applied to calculating the premium. For example, a car owner with a long record of service inscribes his son under the age of 23 years, whose experience is less than 3 years, then the agreement will use FAC 1.8.

The coefficient determining the number of drivers

The contract can be concluded with a limited list of drivers who are allowed to drive (then age, length of service of each is determined).

The contract is established without limitation. In this case, a coefficient of 1.8 is applied (as mentioned above, the FAC is not taken into account)

That is, with a limited list of drivers, the FAC is applied. Under the contract, without limitation, the FAC is not applied, but the tariff is 1.8.

Engine Power Factor

How is OSAGO calculated? The OSAGO calculation formula provides for the use of vehicle characteristics.

To identify the engine power of the machine, you need to use the information in the main document: vehicle passport or in the certificate. The more power, the higher this rate will be.

In the event that in the documents of the vehicle there is no information about horsepower, you need to use the ratio of 1 kW = 1.35962 horsepower. So you can find the required number.

Coefficient depending on the period of use of the car

If the owner of the vehicle does not use the car for a year, he can insure it for the period of time when the car will be needed. Cars can be insured for a minimum of three months, a maximum of one year. When car insurance is compulsory for motor third party liability insurance that go to the place of registration, the insurance period is up to 20 days. Here the tariff 0.2 will be applied.

Violation rate

This ratio has a value of 1 or 1.5. The increased rate of 1.5 applies in the following cases:

• If the policyholder provides false information in order to reduce the price.
• The policyholder creates an intentional insured event in order to receive payment by fraud.
• The policyholder causes harm while driving while intoxicated.
• The driver has no documents, driver’s license.
• The driver fled during a traffic accident.
• The person who is driving, not included in the insurance of OSAGO, has caused harm.
• The accident occurred in a period of time that was not indicated in the document.
• Lack of diagnostic card.

Category D Car Insurance

OSAGO calculation formula for cat. D does not differ from other types of insurance in practically nothing. It is worth considering that OSAGO insurance will be unlimited. And also before you insure the car, you need to go through a technical inspection.

MTPL insurance is mandatory, therefore, it is necessary to take the choice of an insurance company seriously. You need to contact a reliable insurer who has the necessary license and works with losses. Insurance has always remained a tidbit for scammers.

Termination of an agreement

Unforeseen situations occur in which it is necessary to terminate the contract in advance. Early termination of compulsory motor third-party liability insurance requires significant reasons: sale, disposal due to an accident, death of the insured. Upon termination of the policy, the policyholder has the right to receive payment, the remaining amount. The formula for calculating the insurance premium return for OSAGO is calculated as follows:

The amount to be received by the policyholder is equal to the cost of the policy minus 23% (the period remaining until the end of the insurance of compulsory motor liability insurance: 12 months).

Twenty-three percent is the amount that the insurance company takes to pay losses. Of these, 3% are transferred to the RSA, and the remainder remains in the insurance company. Using the OSAGO refund calculation formula, you can roughly determine the amount due. Perhaps there is little time left before the contract expires, then it makes no sense to return the amount, since it will be small. If the policyholder decided to contact the company to receive payment and termination of the contract, then you can not hesitate, since the amount depends on the number of remaining months until the end of insurance. The more months, the more money the owner of the vehicle will receive.

Payment penalty

In case of violation of the terms by the insurance company, the policyholder has the right to receive a penalty. The law determines the amount of the penalty for compulsory motor liability insurance.

• In case of delay in payment or non-issuance of directions for car repair, fines are read in the amount of 1% of the loss for each day. The largest amount of loss cannot be more than 400,000 rubles.
• In case of violation of the terms during the repair, penalties will amount to 0.5% of the cost of restoring a car, taking into account wear and tear, for each day. The penalty should not be more than the cost of repairing the machine.

To understand the formula for calculating the liability insurance, you need to take into account the nuances. The penalty must be paid for all days of delay, including the day of payment. If the policyholder wrote the claim due to an incomplete payment, then the penalty should be calculated on the remaining unpaid amount. The total amount of the penalty cannot be more than 400,000 rubles, and for harm to health and life - no more than 500,000 rubles.

Legal entities

The execution of OSAGO agreements for a legal entity has a number of features:

• The cost of the basic tariff is higher than for individuals.
• Each car must be insured separately.
• The minimum period of use is 6 months (for individuals is three months).
• The policy is unlimited.

Thus, the calculation of compulsory motor third-party liability insurance for legal entities can be done independently using the above factors.

Tariffs are the same in all insurance companies, so the cost of compulsory motor liability insurance will be similar. The difference may be in the offer of additional insurance. If you wish, you can arrange a voluntary type of insurance. If the insurance company offers to purchase a CTP insurance policy at lower prices, you need to check whether it has a license, perhaps this is the work of scammers. Fraudsters sell fake policies at an attractive price, but there will be no help from them in insurance cases. Reliable insurance companies working for a long time in this area will not voluntarily underestimate the cost of compulsory insurance contracts, as they have proved themselves to be the best, they have a large number of customers and policy payments.