Why is Green Slip so expensive?
Why is Green Slip so expensive?

Are all NSW green slips the same?

Yes, all CTP green slips are the same, regardless of insurer. The insurers must all provide the statutory cover required by the legislation. One of the six insurers, NRMA Insurance, provides an additional feature on top of its green slip. This is At-Fault Driver Cover.

How long does a NSW green slip last?

Types of Green Slips For most people, you generally have a choice of either a 12 month policy or a 6 month policy. Other options are available to fleet owners and motor dealers. Before your Green Slip expires, you must buy a new Green Slip to be able to register your motor vehicle.

How do I get a cheap green slip?

Three ways to find the cheapest CTP Green Slip price

  1. Go to the greenslips.com.au Calculator on this site.
  2. Go to Green Slip Price Check operated by State Insurance Regulatory Authority.
  3. Contact each of the six CTP insurers directly.

Jul 12, 2022

Do you need a green slip if you have comprehensive insurance?

In most states and territories your insurance is covered when you pay for your registration fee for your motor vehicle. However, in New South Wales and Queensland, you will need to purchase your Green Slip separately.

What affects green slip price?

This will include your geographic location, type and age of your vehicle and driver history. They will also consider factors such as age, gender, driving history, etc. If you have traffic offences, demerit points and at-fault claims, these may significantly alter your CTP premium.

Can you pay off a green slip?

AAMI makes it easy to pay your CTP Insurance (also known as Green Slip) with three convenient payment options. Choose to pay online (with a Visa, MasterCard, or American Express), over the phone, or at your nearest Australian Post Office – whatever works for you.

Do you need a Green Slip if you have comprehensive insurance?

In most states and territories your insurance is covered when you pay for your registration fee for your motor vehicle. However, in New South Wales and Queensland, you will need to purchase your Green Slip separately.

Does Green Slip have to be in same name as Rego?

The name on your CTP policy should match the name on your car registration. If more than one name must be on your CTP Green Slip, the registered owner must be listed first.

Is CTP cheaper if you have comprehensive?

CTP is for people only and does not cover damage to any vehicles, yours or someone else's. Comprehensive covers damage to your vehicle and others' vehicles and property, but does not cover people….Comprehensive.

Average premium
New South Wales $1,113
National average $952
Australian Capital Territory $942
South Australia $874

•Nov 2, 2020

What does CTP actually cover?

Compulsory Third Party (CTP) Insurance, also known as Green Slip in New South Wales, provides cover for people who may be injured or killed in a motor vehicle accident involving your vehicle. This may include the driver of your vehicle, other drivers, passengers, pedestrians, cyclists and motorcyclists.

What affects Green Slip price?

This will include your geographic location, type and age of your vehicle and driver history. They will also consider factors such as age, gender, driving history, etc. If you have traffic offences, demerit points and at-fault claims, these may significantly alter your CTP premium.

How is CTP calculated?

Your NSW CTP Green Slip premium is calculated based on a number of factors about you and your vehicle, some of which are set by The NSW State Insurance Regulatory Authority (SIRA) including: The type of vehicle you drive. Where your vehicle is garaged.

Is a green slip proof of ownership?

Now that the new keeper has driven away, they can use the green new keeper's slip as proof of ownership if they are stopped by the police. However, just because the car has physically left you, you still have a responsibility to notify the transfer of ownership to the DVLA.

Can I get a refund on my Green Slip if I sell my car?

If you sell your registered vehicle, you can't get a refund from your insurer because the CTP policy stays with the registered vehicle. Any unused CTP amount should be considered as part of your sale price.

Can a Green Slip be in someone else’s name?

The name on your CTP policy should match the name on your car registration. If more than one name must be on your CTP Green Slip, the registered owner must be listed first.

How much does CTP cost in Australia?

Then there's the Motor Accident Insurance Board fee (basically CTP cover) which will cost $314 for a normal car and a private owner.

Can I get a refund on my CTP if I sell my car?

If you sell your registered vehicle, you can't get a refund from your insurer because the CTP policy stays with the registered vehicle. Any unused CTP amount should be considered as part of your sale price.

Do I need both CTP and comprehensive insurance?

Every certified vehicle has to be covered by CTP insurance, whereas comprehensive car insurance is optional. CTP insurance only protects you from the personal injury liability that might arise if you injure anyone involved in an accident you caused.

What affects the price of CTP?

When setting CTP insurance prices, factors are based upon estimating how much premium the insurer needs to collect in order to cover the cost of future claims, ongoing scheme costs, and profit. Another determinant is applying rating factors such as the driver/owner age or vehicle age.

Can I sell a car with just the green slip?

It's actually entirely possible (and 100% legal) to sell a car and transfer ownership without a V5C document. Most people do not realise that the vehicle logbook is a record of the registered keeper, not proof of ownership.

Can you cash in green slip?

Motorists will have more time to claim their compulsory third party (CTP) green slip refund with the scheme extended until 30 June 2019. Green slip refunds worth up to $120 can be claimed via Service NSW either online, over the phone or in store.

Does green slip have to be in same name as Rego?

The name on your CTP policy should match the name on your car registration. If more than one name must be on your CTP Green Slip, the registered owner must be listed first.

Can I get a refund on my green slip if I sell my car?

If you sell your registered vehicle, you can't get a refund from your insurer because the CTP policy stays with the registered vehicle. Any unused CTP amount should be considered as part of your sale price.

What happens to the green slip when I sell my vehicle?

What happens to my CTP green slip when I sell or buy a vehicle that is registered? CTP Insurance is linked to the vehicle, not the owner. That means if you sell your vehicle the CTP will be transferred to the new owner, and if you buy one, it will be transferred to you. Just make sure that you notify Service NSW.

What affects CTP price?

When setting CTP insurance prices, factors are based upon estimating how much premium the insurer needs to collect in order to cover the cost of future claims, ongoing scheme costs, and profit. Another determinant is applying rating factors such as the driver/owner age or vehicle age.

Does CTP transfer to new owner?

CTP insurance is linked to the vehicle, not the owner. So if you sell your vehicle, the CTP policy will be transferred to the new owner. The TfNSW notify the CTP insurer of this change. Similarly, if you purchase a registered vehicle, the CTP insurance will already be placed with a CTP
insurer.

Can you claim green slip on tax?

Business CTP Green Slips Insurers are allowed to charge a loading on green slip prices where the policyholder claims an input tax credit for the GST component of the green slip price. The loading applies to any individual or organisation registered for GST.

Do I need to buy green slip if I have comprehensive insurance?

In most states and territories your insurance is covered when you pay for your registration fee for your motor vehicle. However, in New South Wales and Queensland, you will need to purchase your Green Slip separately.

Does age affect green slip?

Driver age is an important risk factor When you purchase your greenslip, you are required to advise the age of the youngest driver of your vehicle. Driver age is a factor that insurers use to assess risk and determine the price they will charge for CTP green slips.

What is the difference between green slip and pink slip?

Pink slips, or eSafety checks, are reports that verify whether or not your vehicle is fit to be driven after it is 5 years old. A green slip is a compulsory insurance policy that will cover costs when individuals experience health issues in vehicle accidents.

Can I tax my car without a log book or green slip?

Can I tax a car without a log book? No, you can't tax a car without a log book as you need the 11-digit reference number. If you're a new keeper of the car and you don't have a V5C in your name yet, then you can use your green new keeper slip and tax the car using the 12-digit reference number.

Can you drive while waiting for road tax?

No, the punishment for driving without road tax does not include penalty points on your licence. If you're caught driving without valid VED, an automated letter and a fine will be sent to the address of the registered keeper of the vehicle, which is likely to be you.