The Central Bank of the Russian Federation announced an increase in demand for CASCO policies over the year by 58%

According to the regulator, in April-June 2022 there was even a decrease in sales of CASCO insurance by 8% compared to the same period in 2021.

The Central Bank explained the increase in demand for voluntary car insurance in the current year due to several factors, such as limited supply of cars, rising costs of cars and their repairs. In addition, Russians are worried about the possibility of insufficient compensation in the event of an accident under compulsory civil liability insurance (OSAGO). Finally, the increase in sales of new cars also had an impact on the popularity of CASCO insurance.

Chairman of the Council of the Association of Professional Insurance Brokers, Katerina Yakunina, noted that drivers strive to provide protection from the main risks and at the same time save money. That is why in Russia the popularity of mini CASCO has increased, which is cheaper, but provides coverage only for part of the cost of car repairs. In parallel with the increasing demand for insurance, Russians have also become more careful with their cars, which is reflected in a decrease in the number of road accidents.