RSA explained the difference in the cost of spare parts in the reference books and on the market

Prices for car parts in the reference books that are used by insurers to calculate CTP repairs may be lower than market prices. This is due to the fact that the reference book takes into account non-original spare parts, which are often much cheaper than the original ones. This was stated by Evgeny Vasiliev, Director of Insurance Methodology at the Russian Union of Motor Insurers (RSA), on Radio Rossiya, the union's Telegram channel reported on July 3.

"This cutoff, the so-called threshold for determining low-quality spare parts, is now rising. We expect that, accordingly, a smaller number of non—original items will be in the directory, and, naturally, this will lead, according to preliminary estimates, to an increase in the average payout by 8-9%," said Evgeny Vasiliev, commenting on the new rules of the Central Bank for determining repair costs for CTP.

Starting from July 11 of this year, a new procedure for creating directories of the average cost of spare parts and materials will begin to operate in Russia. When determining the average cost of a spare part, the prices of its analogues will not be taken into account if they are 70% cheaper than the original, and the average cost of consumables will be determined without discounts. Another change concerns the cost accounting for single-use parts, such as seals and stickers.

As a result of the innovations, the average payout should increase by 10%, the Bank of Russia indicated. The RSA will begin to apply new rules for determining CTP repair costs from September 19, when the directories of the average cost of spare parts will be updated.

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On July 1, the RSA announced that it predicts a gradual increase in the price of the CTP policy as a result of the application of new rules for determining repair costs. Insurance companies have already begun to slightly increase the cost of the policy due to a fairly high level of average payout, they noted.