Auto insurance in Russia. Main problems

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Insurance history in Russia
Pre-soviet period
The epoch of the great reforms of Alexander II (60s - 70s), which ended serfdom and made the long-awaited breakthrough into the sphere of healthy market relations in the country´s economy, widely opened the doors to private initiative and in the insurance business. However, along with the indisputable advantages - simplifying the founding procedure, freeing private companies from petty regulation, giving them greater freedom of action, she highlighted the hitherto unknown problems - competition, the lack of qualified personnel, the legal side of relations between insurers and policyholders.


Turning to the origins of the demonopolization of the insurance business in the late 80s, it should be noted that the first breakthrough was also associated with cooperative insurance. The Law "On Cooperation", adopted by the Supreme Soviet of the USSR on May 26, 1988, provided that cooperatives can insure their property and property interests in state insurance bodies, create their own cooperative insurance institutions, determine the conditions, procedure and types of insurance.

Problems arising from mistakes in entering into insurance
One of the significant differences between an insurance transaction and other transactions is that its invalidity is almost always associated with serious financial sanctions. After all, insurance premiums are exempt from VAT, and insurance payments reduce taxable income.

Determination of the insured value of the property
Usually the documents that serve as the basis for determining the size of the insurance value for domestically produced vehicles are the reference account of the state store and data from the relevant price lists; for vehicles of foreign production - the invoice of the manufacturer or authorized dealer, as well as domestic and foreign catalogs.

Usually, an independent expert is invited for the examination, which makes an estimate. As a rule, this is an expert bureau with which this company constantly works. Most contracts stipulate that in case the client’s expertise is not satisfied with the client’s bureau, the client can turn to another bureau for the services that he will pay himself and the insurance premium will be the average between these two expertise results.

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