CTP Insurance NSW: Green Slip InsuranceAll over Australia, Compulsory Third Party (CTP) insurance provides financial protection to drivers against personal injuries caused to a third party in a vehicle accident. In NSW, this insurance is known as a ‘Green Slip’ due to the colour of the form it’s printed on.
Getting CTP insurance cover is a separate – but compulsory – step in the process of registering a vehicle in NSW. To help make sure you’re prepared for registration, here’s your guide to Green Slips.
Whatever you choose to call it, having CTP insurance is a condition of motor vehicle registration in NSW. You’ve got to have it, plain and simple.
Why is CTP insurance different in NSW?
Unlike in some other states and territories, drivers in NSW are free to choose their own CTP insurance provider. There are six insurers licensed to provide Green Slips in NSW – AAMI, Allianz, CIC Allianz, GIO, NRMA and QBE. Most offer quotes online, or you can call them to talk directly.
Once you decide on the policy that suits you best and have paid for it, the insurer will notify Roads and Maritime Services (RMS) that the Green Slip is valid, so that it will be in place when you are ready to register your vehicle.
While SIRA sets the rules and reviews price changes in NSW, insurers can set their own prices within a range.
Prices may vary based on a number of factors, including:
The vehicle type.
The geographic location.
Vehicle ownership and use.
Current insurance status, including no-claim bonus.
The age of the owner and drivers.
The driver’s record, including traffic offences, demerit points and number of years licensed.
Your claims history, including the number of at-fault claims.
When it comes time to renew your vehicle’s registration, the insurer who provided you with cover for the previous year will usually send out a renewal notice. But that doesn’t mean you can’t shop around to see if you could save money on your car insurance.
With so many different CTP insurers in NSW, it’s always worth looking at your options. It’s also worth seeing if you need more cover and comparing comprehensive car insurance policies to find the best price. Bear in mind that some providers may offer discounts if you have multiple policies with them.
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