The best insurance company for OSAGO: list, features and reviews

The problem of choosing an insurance company is faced by both beginners and people who in the past had a negative experience when buying a policy. Most often this is due to an unreasonable expectation of payments. Therefore, it is important to know how to choose the right company. It is important to understand how to take into account not only subjective factors, but also real ones. For more details on how to determine which is better for OSAGO and any other, read on.

Problem

Every year, 42 million car owners purchase an OSAGO policy and another 5 million - CASCO. After the amendments were made to the legislation in 2014, clients only turn to their insurer for damages. The amount of the payment depends on the policy of the company. How to understand in which insurance company it is better to issue OSAGO?

Search for information

A good insurance company for OSAGO is a reliable company that can quickly fulfill its obligations . Even the most unfavorable insurer must be able to make payments and not go bankrupt.

The complexity of the choice is aggravated by the number of companies operating in the market. How to choose from hundreds of organizations which insurance company is better for OSAGO? You can, of course, conduct your own analysis of open information posted on official sites, forums, blogs and social networks. It will not be superfluous to find out the opinions of former clients of the company. Also, do not forget about the annual ratings of insurers.

Collection of information

If we are talking about a small or little-known company, then the first step is to check whether it has a license to operate. Only companies with the appropriate license can provide insurance services. In Russia, there are more than 400 of them, and each of them has dozens of agents. The register of insurers is presented on the Bank of Russia website in the financial market section. It is better not to contact insurers registered in the territory of another country. Organizations that have been on the market for over 10 years deserve more trust.

Amount of payments

The range of compensation amounts is less today than it was before. When calculating the cost of repairs, all organizations must apply the methodology approved by the Bank of Russia. Differences can only be in the timing of payments. This is how the situation looks in theory. In practice, in 2014, insurers collected 150 billion rubles, and transferred only 90.3 billion to the victims, despite the fact that, according to the law, 77% of the collected funds must be paid to the victims. The explanation is simple. First, in 2014 there was still no uniform methodology for determining the cost of repairs. Secondly, at the time of purchase of the policy, the funds are deposited at the cashier. An insured event may occur at any time in the future. Therefore, most of the collected premiums go to the reserve.

Financial stability

The ability of an organization to fulfill its obligations in any economic situation is reflected in its financial performance. It is especially important to analyze reports when it comes to long-term cooperation. Even a good insurance company for OSAGO can have problems with payment. What should you pay attention to?

The authorized capital must exceed the minimum established (120 million).

The increase in the organization's assets reflects the positive dynamics of development, especially if it is carried out at the expense of the collected premiums. A good insurance company for OSAGO has a large amount of free cash.

The number of contracts concluded must match the financial capabilities.

Insurance reserves most often do not exceed inflation. But their decline over time is a bad trend.

Payments that are too high should also alert potential customers. Indeed, in essence, the organization's earnings are the collected bonuses. How can a company exist if it paid customers more money than it raised?

Large companies transfer to other organizations up to 50%

This is how a good insurance company (OSAGO) works.

Reviews

Each case is different. Even after analyzing the reviews on the forums, it is difficult to determine which organization is the best insurance company for OSAGO. All clients face the same problems:

• long consideration of the application (it can take a month to check the documents);
• the underestimated amount of payments (each insurance company verifies all the estimates of the appraisers with the PCA reference book, the resulting value is corrected for the VAT refund, and the rest must be paid to the client).

The most affected are clients who purchased an insurance policy in Crimea. Not all insurance companies have their offices there. Therefore, clients have to return to Rosgosstrakh for payments.

Insurance rate

Low prices should alert potential customers. Dumping is done by small or brand new companies trying to attract customers. The strategy is relevant only at the first stage of work. Over time, she faces bankruptcy. There is no point in chasing low prices when concluding a long-term contract.

The amount of payment in the event of an insured event is calculated based on the rate multiplied by the amount of coverage selected by the client. The resulting value is corrected for correction factors. In the case of OSAGO, this can be the age of the driver, place of residence, way of storing the car, driving experience, etc. The more inexperienced the driver and the older the car, the more risks the company will have to cover. This, in turn, will affect the amount of the contribution. A "penny" policy cannot cover all risks. The insurer will not keep promises. The client will lose funds and insurance coverage.

The presence of bonuses and loyalty programs, on the contrary, has a positive effect on the company's image. A large company can cut prices for regular customers.

Ratings

• highly reliable - class A;
• satisfactory level of risk - class B;
• low level of reliability - class C;
• bankruptcy - class D;
• license revocation - class E.

The best companies are additionally divided into three groups: reliable, highly reliable and extremely reliable.

The agency does not evaluate the work for free. Therefore, not all companies are included in the rating. At the same time, the absence of a company on the list does not mean that it cannot be trusted. "People's" ratings assess quantitative indicators, and agencies - qualitative ones. To derive a more or less adequate estimate, one should be guided by data from several sources for one long period.

Evaluation scale "EXPERT RA"

External factors:

• volume, dynamics of changes in assets, equity, capital, insurance premium;
• position of the organization in the market (participation in associations, associations, reputation, brand, relations with supervisors and specialization);
• corporate governance (potential of owners, risk management, organization structure, infrastructure, transparency of activities);
• geography (presence of a developed branch network).

Insurance business:

• insurance portfolio (profit by type of insurance);
• customer base (the presence of permanent counterparties, the proportion of canceled contracts, methods of distribution of policies, reinsurance partners);
• reinsurance activities (reliability, efficiency and diversification of protection, risk reinsurance, the ratio of the amount of payments to own funds).

Financial indicators are analyzed for:

• liquidity and solvency;
• profitability and loss ratio;
• investment policy.

It is quite difficult to determine which is the best insurance company for OSAGO. The rating of the "popular" vote has a right to exist, although it is very subjective and biased. Reviews of real people are also worth looking at with skepticism, since any insurer has fans and opponents. Despite all these factors, it is possible to present the general tone of reviews about the leaders of the insurance market in order to determine the best insurance companies for MTPL payments.

VTB Insurance

Over the 16 years of its existence, the insurance group has opened branches in 114 cities in all regions of the Russian Federation. The international agency Standard & Poor’s has assigned VTB Insurance the highest rating among Russian companies, BB +. In 2015, EXPERT RA Agency ranked the company as one of the most reliable. In addition to car insurance services, the company provides a wide range of other products: property protection, savings, investment programs.

ROSGOSSTRAKH

The oldest insurance group in the Russian Federation is the leader in the number of branches opened. In the EXPERT RA rating, ROSGOSSTRAKH ranks first in terms of premiums paid, reserves and assets. Although in some regions there were recorded cases of violation of the law, when customers were forced to purchase auto insurance policies. For such violations, the organization's license was temporarily taken away.

SOGAZ

Another large and good insurance company for OSAGO ranks second in terms of the number of collected premiums in the Russian Federation. The structure of the group includes 9 domestic and foreign organizations serving 14 million people and 40 thousand legal entities. The main advantages of the organization include the optimal price-quality ratio for compulsory motor third party liability insurance policies.

The final stage

Before making a final decision, it is worth visiting the offices of several organizations in order to:

• assess the level of service;
• request calculations and compare them;
• study the terms of the contract.

The best one will not only select an individual tariff, but also tell in detail about the main nuances of the contract.

Output

It is rather difficult to determine which insurance company is the best for OSAGO. Reviews of real people are subjective and most often associated with overestimated expectations for payments. "People's" ratings also do not provide an adequate assessment of the financial condition. Official reports are analyzed in detail by professional analysts once a year. But even having collected all the information, it is difficult to determine which is the best insurance company for OSAGO. After all, there is also a factor of human error, from which no one is immune.