CMTPLI compensations for bikes exceed insurance payments for cars
In 2023, compensations under compulsory motor third party liability insurance (CMTPLI) policies for motor bikes averaged ₽93,600, which is 6% more compared to CMTPLI policies for cars, according to the Bank of Russia’s calculations.
The average compensation for the damage to victims’ property under motor bike insurance policies was 1% higher than that under car insurance policies. Furthermore, personal injury compensations were 29% higher, averaging ₽258,834. This difference is associated with more serious consequences for victims of accidents caused by bikers, in the first place bike passengers, as well as pedestrians. Moreover, such payments under bike insurance policies were made 2.4 times more frequently than under car insurance policies.
Last year, the price of a CMTPLI policy for motor bikes averaged ₽2,200 and was 3.3 times lower compared to that for cars.
Over 2023, bikers purchased 357,000 such policies, which is 6.4 times less than the number of officially registered motor bikes. The largest number of insurance contracts were signed by bikers from Moscow, the Moscow Region and Saint Petersburg, accounting for 33.8% of all CMTPLI policies bought for motor bikes.
The Bank of Russia releases advanced statistics on CMTPLI for bikes for the first time.