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    02/04/2025, 12:08

    MP says home insurance prices are not in line with stated rates

    On 4 February 2025, during a meeting of the Jogorku Kenesh Committee on Transport, Communications, Architecture and Construction, MP Dastan Bekeshev noted that the prices for home insurance in Kyrgyzstan do not correspond to the previously announced rates.

    According to Bekeshev, it was previously stated that the cost of property insurance in urban areas was 1,200 soms per year and in rural areas 600 soms per year. However, as it turned out, these figures are minimal, and in practice the cost of insurance turns out to be much higher.

    ‘I was approached by a Bishkek resident who insured a two-room flat and has to pay 4,000 soms annually. In addition, the rate for the registration fee was 10 thousand soms,’ the deputy said.

    In response, Marat Pirnazarov, head of the State Financial Supervision Service, noted that all tariffs for public services were agreed with the Antimonopoly Regulation Service and disagreed with the MP about the inconsistency of prices.

    ‘We have an unambiguous tariff, which is 1 thousand 200 soms per year for cities and 600 soms per year for rural areas,’ Pirnazarov said.

    Dastan Bekeshev added that he has all the cheques of the citizen who paid the cost of insurance through the bank. Pirnazarov suggested that the payer could have insured the full value of the house in order to receive more compensation in case of damage.

    Also during the meeting, the deputy raised the issue that the sale of real estate should not require an insurance policy. He said that it is impossible to restrict people in the right to sell their property, as prescribed in the Civil Code.

    Pirnazarov replied that in some cases it is possible to restrict the sale of real estate in order to attract public attention to home insurance.


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