Why the choice of insurer matters

Dozens of insurance companies operate in Russia, and each calls itself reliable. But a policy is a promise to pay in the future, and the value of that promise depends on who makes it. Below is a step-by-step approach to choosing an insurer deliberately rather than on the strength of the first advert you see.

Step 1. Check the licence

Insurance in Russia is licensed and supervised by the Bank of Russia, the country's central bank and financial regulator. Information on active insurers, their licences and classes of insurance is available in the register of insurance entities on the Bank of Russia website. Check:

  • that the licence is valid and not suspended or restricted;
  • that the licence covers the type of insurance you need;
  • that the exact name and taxpayer number (INN) in the contract match the register.

The Bank of Russia also publishes warnings about companies showing signs of illegal activity. If an insurer is not in the register, do not sign a contract with it.

Step 2. Assess financial strength

The clearest external benchmark is ratings from credit rating agencies included in the Bank of Russia register (ACRA, Expert RA, NKR, NRA). A rating reflects the agency's view of the company's ability to meet its obligations. Pay attention to the outlook: "negative" is a reason to look more closely.

It also helps to consider the company's track record, shareholders and scale. A large company with a long history and transparent owners is usually more predictable. A directory of insurers with key information is available in the Insurance companies section.

Step 3. Don't chase the lowest price

Insurers build reserves from client premiums and pay claims from those reserves. An abnormally cheap voluntary policy may mean narrow cover, a high deductible or a long list of exclusions. Compare not only the price but also the terms:

  • which risks are covered and which are excluded;
  • the deductible;
  • the form of compensation: cash or repair, based on an estimate or on the repair shop's invoice;
  • deadlines for reviewing a claim and paying out.

For OSAGO (compulsory motor third-party liability insurance) the tariff is limited to a range set by the Bank of Russia, so price differences come from the coefficients rather than the quality of cover. Here the claims service matters more.

Step 4. Look at the service

A good insurer is not only about paying claims but also about making the process convenient:

  • a 24/7 hotline and a mobile app;
  • the option to file a claim online;
  • a network of offices and claims handling in your region — especially important for motor insurance;
  • an accident assessor on site and towing, if the contract provides for them;
  • clear insurance rules published on the company's website.

A typical mistake is to insure a flat and discover after a leak from the neighbours that only fire was covered. Read the list of risks before you pay.

Step 5. Check the claims record

The Bank of Russia publishes data on complaints about financial institutions and market statistics. Look at the number of justified complaints relative to the size of the company's business. Feedback from friends is useful too, but allow for emotion: dissatisfaction often arises because the client did not read the terms.

Where to buy a policy

You can conclude a contract directly with the insurer — at its office, on its website or in its app — through an agent, or through an intermediary that compares offers from several insurers. In every case the policy is issued by the insurance company, and you are entitled to request its insurance rules and check the authority of whoever is arranging it. An electronic OSAGO policy can be verified by its number in the AIS OSAGO database.

If a dispute arises

If the insurer delays or underpays a claim, proceed as follows:

  1. A written claim to the insurer with supporting documents.
  2. The financial ombudsman — free of charge for individuals. Under Federal Law No. 123-FZ, the ombudsman reviews monetary claims against insurers of up to RUB 500,000, and OSAGO claims regardless of the amount. For these disputes, applying to the ombudsman is mandatory before going to court.
  3. A complaint to the Bank of Russia via its online reception if the company is breaking the law.
  4. Court — if you are not satisfied with the ombudsman's decision.

From 1 January 2027, life insurance will be covered by a guarantee scheme for insurance payments (Law No. 477-FZ of 26 December 2024) operated by the Deposit Insurance Agency (DIA). It provides additional protection if a life insurer loses its licence: up to RUB 10 million for death-related payouts and up to RUB 2.8 million for other payouts. Until then, there is no DIA guarantee for life insurance.

In short: a checklist

  • A licence for the relevant class in the Bank of Russia register.
  • A credit rating and its outlook.
  • Terms, not just price.
  • Claims service in your region.
  • Willingness to explain the rules before you sign.

You can compare offers from several companies in the Compare section or by submitting a request to Polis Re specialists.