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Chronicle
2024
The Russian auto casco market grew by 19.4% over the year and reached ₽323,2 billion - Central Bank of the Russian Federation
The Russian auto casco market in 2024 grew by 19.4% and reached ₽323,2 billion. The main growth factors were the increase in sales of new cars, the rise in the cost of spare parts and the expansion of insurance coverage for used cars. This is stated in the information and analytical material of the Bank of Russia, published in March 2025.
According to the regulator, in 2024, 33% more new cars were sold on the Russian market compared to 2023. Most acquisitions were funded through car loans and leasing, which automatically ensured an increase in the number of casco policies, since their availability is a mandatory requirement for financial institutions.
The increase in the cost of repairs and spare parts also had a significant impact on the car insurance market. The rise in the cost of imported components and repair work led to an increase in payments to insurers, which affected the increase in average insurance premiums. In 2024, the average casco payment increased by 18.6% and amounted to ₽189,5 thousand.
The third significant factor in the growth of the market was the increase in demand for used car insurance. Insurance companies were actively developing programs for cars over 5 years old, offering customers policies with a deductible or limited list of insurance claims, which made insurance more affordable for owners of used cars.
As a result of these factors, the number of autocasco contracts concluded in 2024 increased by 1.2 million, reaching 7.9 million policies. The share of individuals in the total amount of insurance premiums amounted to 55%. The average cost of a casco policy for the year reached ₽21,1 thousand.
The total volume of insurance payments on auto insurance in 2024 amounted to ₽165 billion, an increase of 27.7% compared to 2023. This is explained not only by an increase in the cost of spare parts, but also by an increase in the number of insured events during the reporting period.[1]
The Russian casco market grew by 30% over the year and reached ₽343 billion
The revenue of Russian insurance companies from the sale of car helmet policies in 2024 reached ₽343 billion, an increase of 30% compared to 2023. This was announced on February 24, 2025 by analysts of the National Credit Ratings company.
In the non-life insurance segment, casco accounts for 40% of the market. This category includes all types of insurance that are not related to personal insurance, including life, health and pension insurance.
Data from the largest financial marketplace "Compare" show a significant increase in the popularity of casco policies with reduced coverage. In 2024, sales of such insurance products increased by 27% compared to 2023. Evgeny Fatyanov, head of work with partners in the direction of Casco of Compare, said that the average cost of a mini-casco is from ₽2 thousand to ₽10 thousand, which is significantly lower than the cost of policies with full coverage.
Andrey Burlak, Deputy General Director for Retail Sales of Absolut Insurance, noted a sevenfold increase in sales of mini-casco policies in 2024. Artem Yakovlev, director of the Casco domain of Ingosstrakh, confirmed that the growing trend in demand for mini-casco remains and is intensifying.
Insurance companies are showing different dynamics in the growth of sales of policies with reduced coverage. In the insurance company MAKS, the volume of sales almost doubled, in the company "Consent" - by 34%, in "Zetta Insurance" - by 30%. VSK recorded an increase of 27%, and RESO-Garantia - by 18%.
The most popular type of insurance coverage in 2024 was protection in case of an accident due to the fault of a driver who does not have an OSAGO policy. Insurance companies also actively offer casco programs against major risks, such as car theft or its total destruction. An important feature of the market is the preferential implementation of casco policies directly by insurance companies, without the participation of brokers.[2]
Why design CASCO: key benefits for car owners
The article lists the main benefits of CASCO insurance, what risks the policy covers, and why it is a great solution for those who want to avoid the unexpected cost of repairing a car.
2023: Growth in sales of casco policies by 21.4% to 270.6 billion rubles
Sales of casco policies in Russia in 2023 reached 270.6 billion rubles, which is 21.4% more than a year earlier. At the same time, the number of such policies issued by individuals increased even more over the year - by a third. This is evidenced by the data of the Bank of Russia, published in April 2024.
As the regulator notes, the demand for casco insurance increased significantly in 2023, which is associated with an increase in sales of new cars (they are often sold on credit, for which a casco policy is required) and the expansion of car loans, as well as an increase in the value of this type of insurance for motorists.
In addition, there were more (in percentage terms) insured used cars - due to an increase in the value of cars for owners against the background of a limited supply, as well as an increase in the price of cars and an increase in the cost of their restoration repairs. The popularity of low-cost auto insurance programs with a limited set of risks and contracts with franchises in this segment has grown. This is evidenced by a decrease in the average insurance premium in 2023 by 17.4% on an annualized basis, to 30.4 thousand rubles.
The Central Bank notes that as a result of increased demand for auto insurance insurance, the penetration rate of this type of insurance has increased. At the end of 2023, every sixth car owner whose liability was insured under OSAGO, the car was also insured under Casco. A year earlier, the ratio of a voluntary policy to a mandatory one was 1:8. The volume of auto insurance payments in 2023 increased by 6.5% due to an increase in the cost of repairs amid an increase in the price of auto parts and an increase in the amount of payments due to the spread of franchises, for which the insured independently pays small losses.[3]
2022: 7.6% increase in insurer fees to RUB 222.8 billion
Fees of Russian insurers on Casco in 2022 amounted to 222.8 billion rubles, which is 7.6% more than a year earlier. The Central Bank of the Russian Federation cited such data in its "Review of Key Indicators of Insurers," which was published in mid-March 2023.
According to the regulator, the growth of the market was facilitated by the expansion of the client base at the expense of both retail and corporate clients. At the same time, the increase in the number of concluded contracts occurred, despite the decline in sales of new cars.
 | Such dynamics was associated with an increase in sales of inexpensive mini-casco programs (risks under such programs are limited, and most often you can apply for payment or repair only if the driver is not the culprit of an accident). Car owners began to fear a lack of insurance compensation for OSAGO in the face of rising prices for spare parts. Their desire to protect themselves from such risks contributed to an increase in demand for truncated auto insurance programs, the study said. |  |
According to the estimates of the Central Bank, the average premium on insurance of land transport facilities on Casco in 2022 decreased by 3.5% to 36.8 thousand rubles in 2022, despite the increase in the cost of cars and spare parts. The volume of payments on auto insurance in 2022 increased by 11.2% year-on-year. This was largely facilitated by the increase in prices of auto parts amid their shortage, which had an impact on the growth of the average insurance payment. The number of insured events has practically not changed, the regulator added.
According to estimates, on Rosstat average, the cost of casco policies at the end of 2022 increased by almost a quarter. For individual car brands, insurance has risen in price by one and a half to two times - this was RBC reported by market participants. This trend is also due to the increased cost of spare parts.
Review of key performance indicators of insurers
Notes
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