Today, compulsory CPLI auto insurance is issued in three ways: through insurance agents, through special terminals installed in special PSCs and independently on the website of an insurance company. In the latter case, there are many options to buy a policy not only quickly, but also cheaply.
To make it easier to pay the cost of an OPAG policy, insurers are offering online car insurance at a discount, in installments or in a completely new way - through a car insurance subscription. Freedom Finance Insurance specialists analyzed their database for 2022 and found out which car owners prefer to buy classic car insurance with a one-time payment, who takes it in installments for 6 months, and who used the new online car insurance service by subscription.
One-time payment for the online policy of the OPAG
According to the data of 2022, 82% of car owners have issued ordinary electronic policies for compulsory CPLI auto insurance in IC Freedom Finance Insurance.
Gender and age of the owner. Among those who took out compulsory auto insurance in the usual way, paying the full cost at once, 79% are men and 21% are women. The average age of policyholders is 32 - 35 years.
What is the price. The average cost of a classic online CPLI policy is 14,500 KZT. The maximum cost is 49397 KZT. The lowest cost of the policy in the company's database is 2702 KZT.
Year of manufacture of the insured vehicle. In 2022, CPLI policies were most often issued for vehicles manufactured in 2013 and 2014 - 12% of the total number of insured cars in this way each. Least of all issued policies for cars manufactured in 2000 and 2004 - 3% each.
CPLI policy in installments
The service was launched in the spring of 2020 to facilitate the purchase of mandatory auto insurance in the midst of the Covid-19 pandemic, a temporary loss of income for most quarantined Kazakhstanis. Then car owners had the opportunity to pay not the entire cost of the policy at once, but in installments, without burdening the family budget. To date, 12% of all insurers of the company use the service of paying for the CPLI policy in installments.
Gender and age of the owner. Since the beginning of 2022, most often, installment car insurance is issued by men - 86%, and women - 14%. The average age of these insurers is 31-33 years.
What is the price. The average cost of car insurance is 15120 KZT, the maximum cost is 41633 KZT, and the minimum cost is 2730 KZT.
Year of manufacture of the insured vehicle. Most often, car owners bought compulsory auto insurance for vehicles manufactured in 2013 and 2014 - 6% and 8%, respectively, of the total number of CPLI policies purchased in installments. Least of all - 2009 and 2008 release - 0.8% and 1%, respectively.
Subscription car insurance
This is a completely new insurance product not only in Kazakhstan, but also abroad. CPLI auto insurance under the subscription of IC Freedom Finance Insurance launched in April 2022. At the moment, 6% of the company's insurers have used the service.
Gender and age of the owner. 90.2% of subscribers are men, 9.8% are women. Basically, car owners of the age category of 30-40 years old make out a subscription.
Subscription cost
The average cost is 15280 KZT, the maximum is 31062 KZT, the minimum is 4974 KZT. The subscription is issued for a year and subsequently automatically renewed with the consent of the car owner. In terms of payment, this type of insurance is more profitable than the classic one, since the first 90 days of the subscription are a gift to policyholders from the company's partners. In the following months, the service is paid according to the cost of compulsory auto insurance of the CPLI established by law.
The CPLI auto insurance subscription is tied to a bank card for a monthly fee, as with a subscription to other services. For example, if an CPLI policy costs 10,000 KZT for a year, then the car owner pays nothing for the first three months (that is, the savings will be 2,500 KZT). And in the next 9 months, he pays the remaining part of 833 KZT monthly, which is beneficial for those who prefer to pay in small amounts, and convenient for people with different earnings."
To make it easier to pay the cost of an OPAG policy, insurers are offering online car insurance at a discount, in installments or in a completely new way - through a car insurance subscription. Freedom Finance Insurance specialists analyzed their database for 2022 and found out which car owners prefer to buy classic car insurance with a one-time payment, who takes it in installments for 6 months, and who used the new online car insurance service by subscription.
One-time payment for the online policy of the OPAG
According to the data of 2022, 82% of car owners have issued ordinary electronic policies for compulsory CPLI auto insurance in IC Freedom Finance Insurance.
Gender and age of the owner. Among those who took out compulsory auto insurance in the usual way, paying the full cost at once, 79% are men and 21% are women. The average age of policyholders is 32 - 35 years.
What is the price. The average cost of a classic online CPLI policy is 14,500 KZT. The maximum cost is 49397 KZT. The lowest cost of the policy in the company's database is 2702 KZT.
Year of manufacture of the insured vehicle. In 2022, CPLI policies were most often issued for vehicles manufactured in 2013 and 2014 - 12% of the total number of insured cars in this way each. Least of all issued policies for cars manufactured in 2000 and 2004 - 3% each.
CPLI policy in installments
The service was launched in the spring of 2020 to facilitate the purchase of mandatory auto insurance in the midst of the Covid-19 pandemic, a temporary loss of income for most quarantined Kazakhstanis. Then car owners had the opportunity to pay not the entire cost of the policy at once, but in installments, without burdening the family budget. To date, 12% of all insurers of the company use the service of paying for the CPLI policy in installments.
Gender and age of the owner. Since the beginning of 2022, most often, installment car insurance is issued by men - 86%, and women - 14%. The average age of these insurers is 31-33 years.
What is the price. The average cost of car insurance is 15120 KZT, the maximum cost is 41633 KZT, and the minimum cost is 2730 KZT.
Year of manufacture of the insured vehicle. Most often, car owners bought compulsory auto insurance for vehicles manufactured in 2013 and 2014 - 6% and 8%, respectively, of the total number of CPLI policies purchased in installments. Least of all - 2009 and 2008 release - 0.8% and 1%, respectively.
Subscription car insurance
This is a completely new insurance product not only in Kazakhstan, but also abroad. CPLI auto insurance under the subscription of IC Freedom Finance Insurance launched in April 2022. At the moment, 6% of the company's insurers have used the service.
Gender and age of the owner. 90.2% of subscribers are men, 9.8% are women. Basically, car owners of the age category of 30-40 years old make out a subscription.
Subscription cost
The average cost is 15280 KZT, the maximum is 31062 KZT, the minimum is 4974 KZT. The subscription is issued for a year and subsequently automatically renewed with the consent of the car owner. In terms of payment, this type of insurance is more profitable than the classic one, since the first 90 days of the subscription are a gift to policyholders from the company's partners. In the following months, the service is paid according to the cost of compulsory auto insurance of the CPLI established by law.
The CPLI auto insurance subscription is tied to a bank card for a monthly fee, as with a subscription to other services. For example, if an CPLI policy costs 10,000 KZT for a year, then the car owner pays nothing for the first three months (that is, the savings will be 2,500 KZT). And in the next 9 months, he pays the remaining part of 833 KZT monthly, which is beneficial for those who prefer to pay in small amounts, and convenient for people with different earnings."
