How to get the best Green Slip in NSW
Compulsory third party insurance (CTP), known as a Green Slip in New South Wales, is mandatory car insurance that you must take out when registering a vehicle. If you injure someone else while driving anywhere in Australia, it will cover the costs of the medical and legal fees associated. However, if you were at fault for the accident, it will only cover you partially or potentially not at all. Read on to find out how to get the cheapest possible CTP insurance in NSW, or find out how it works in your state if you live elsewhere.
Only six insurers in NSW offer Green Slips, and with a few exceptions all are exactly the same, although the prices will vary. This means you can often get the best possible CTP insurance simply by comparing six options and picking the cheapest.
How do I get the cheapest NSW CTP insurance?
Comparing NSW CTP Green Slips is easy for three reasons:
- There are only six companies in NSW that offer Green Slips.
- All CTP insurance policies are exactly the same, unless you get the extra at-fault cover, which is available from three of the companies.
- Green slip prices are regulated, and will always be affordable.
|Company||Offers at-fault cover?|
All standard Green Slips without at-fault cover will always be exactly the same, with the only difference being the price. Each company has different ways of calculating premiums, so what’s cheapest for one person might not be the cheapest for someone else.
To get the cheapest possible NSW CTP insurance, compare quotes from all six providers and choose the most cost-effective.
What is at-fault cover?
At-fault cover is an optional extra available from Allianz, GIO and NRMA. It’s different from standard CTP insurance because it also covers your own medical expenses if you are found to be responsible for the accident. Certain exclusions apply to purchasing at-fault cover.
|Allianz||Motorbikes, drivers under the age of 25, goods-carrying vehicles with a gross vehicle mass greater than 4.5 tonnes, vehicles that are ten or more years old at the time you get the Green Slip.|
|GIO||Motorbikes, drivers under 25 (unless they have comprehensive car insurance with GIO), goods-carrying vehicles with a gross vehicle mass greater than 4.5 tonnes.|
|NRMA||Motorbikes, drivers under 25, goods-carrying vehicles with a gross vehicle mass greater than 4.5 tonnes, Green Slips issued on a quarterly or six month basis.|
To get the most comprehensive NSW CTP insurance, compare the at-fault driver policies of Allianz, GIO and NRMA.
How to buy a green slip?
In NSW, you can purchase CTP insurance, or a Green Slip, from licensed insurance companies. Some of these companies will permit certain insurance agents to sell Green Slips in their name.
To buy a Green Slip, you will have to provide the insurer or the agent with the following information:
- Your vehicle's make, model and manufacturing year
- The postcode of where you garage your vehicle
- Whether you use your vehicle for personal reasons or for business
- How old you are and the age of anyone else who may drive your vehicle
- Details of any accidents you have been involved in as well as your insurance and claims history
- Details pertaining to your driving record, including information on your driver's licence
Ensure that all the details you provide are correct. If your Green Slip premium is calculated to be lower than it should because of false information, the insurance company will demand that you pay the difference. If you don't, you could lose your vehicle registration.
What does NSW CTP insurance cover?
If you cause a vehicle accident that injures or kills someone else, CTP insurance will ensure that they receive compensation. If another driver causes an accident that injures you, you’ll receive compensation from their insurance. This covers passengers, cyclists, motorcyclists, pedestrians and other motorists. Trailers are also covered by the Green Slip of the vehicle that is towing it.
The guilty party in the accident will generally not have their injuries paid for unless they have the optional extra at-fault cover. A standard Green Slip does not cover:
- Any damage incurred by your vehicle
- Any damage incurred by the vehicles of other people
- A stolen vehicle
- The guilty driver, unless they’ve suffered a catastrophic injury in accordance with the definition laid out in the Lifetime Care & Support Scheme below
CTP insurance benefits for at-fault drivers
The Lifetime Care and Support Scheme offers compensation to people who suffer catastrophic injuries in a motor vehicle accident regardless of who was at fault. The scheme clearly defines what represents a catastrophic injury and includes things like spinal cord damage, brain injury, serious burns, complete loss of vision, multiple amputations and more.
The Lifetime Care and Support Scheme was created because people who suffer devastating injuries in car accidents can sometimes need treatment, help and attendant care for their whole life.
Funding for The Lifetime Care and Support Scheme comes from Insurance and Care NSW (iCare), which also funds hospital and ambulance expenses for car accident victims. This appears as a separate entry on your Green Slip payments. It’s called the MCIS Levy, and the amount it costs you is based on a percentage of your Green Slip payments, modified by factors like where you live and what kind of vehicle you drive.
Here’s how the MCIS Levy is calculated in NSW by location and vehicle type:
|Vehicle Type||Sydney Metropolitan||Outer Metropolitan||Newcastle/Central Coast||Wollongong||Country|
|Light-goods transport vehicle (up to 4.5t GVM)||34.44%||34.46%||33.58%||32.04%||36.24%|
Changes to CTP insurance in NSW
The CTP insurance scheme ensures that people who are injured or killed in a motor vehicle accident can receive compensation irrespective of the financial situation of the owner of the vehicle or the person driving it.
The compensation offered covers both economic and non-economic loss, meaning that hospital, medical and rehabilitation expenses as well as loss of income will be covered, as well as any pain, suffering and loss of quality of life. The level of compensation available is limited and there are a lot of factors that will determine exactly how much someone will be awarded.
Originally CTP insurance was created in such a way that the guilty driver was not entitled to receive any form of compensation, but fortunately there have been some changes since then.
Regardless of who the guilty party is, or whether there was no one at fault, all drivers are entitled to certain protections under CTP insurance.
- Special children's benefit. Children younger than 16 can apply for this benefit and be compensated for injuries, even if they were the cause of the accident as a passenger or unlicensed driver.
- Blameless accidents. These include accidents caused by drivers who suffered the sudden onset of an illness or medical issue such as a heart attack, collisions with animals that could not be avoided and inexplicable mechanical problems. This lets people injured or killed by such accidents claim compensation.
- Bulk billing arrangements. Hospital care, ambulance transport and any other treatments needed for the guilty driver are funded by the insurance policy, just like for any other person that was injured in the accident.
- Accident notification provisions. The guilty party can now receive up to $5,000 to cover treatment and loss of income by lodging an Accident Notification Form.
Despite the changes that were made to the scheme, the person to blame is still not entitled to receive all the benefits that the other parties have access to. The guilty party cannot file a claim for:
- Any expenses over $5,000 incurred in a medical facility that is not a public hospital, connected to medical treatment, pharmaceuticals and rehabilitation
- Attendant or respite care
- Changes to their residence
- Benefits to cover loss of quality of life, pain and suffering
- Past loss of income that is over the $5,000 ANF limit
- Future loss of income
How are CTP insurance prices determined?
The six licensed CTP insurance companies choose their own premiums, but are required to keep prices within a certain range. To determine how much you will be charged they consider the following factors:
- Your accident history
- How old the all the regular drivers of your vehicle are
- How old your vehicle is
- Whether you have comprehensive insurance or third party property insurance
- Whether your vehicle is being used for personal or business purposes
- Whether you are renewing your Green Slip or purchasing a new one
The insurers are permitted to offer discounts or to impose loadings if they feel it is necessary, however, they must stick within certain limits determined by the government. These discount and loading levels differ from one insurer to the next, which is why NSW Green Slip providers have different prices even though their policies are the same.
Green Slip price guide according to postcode
Depending on where your car is garaged on a regular basis, you’ll fall into a different category determined by your area’s postcode.
|Green Slip price guide zone||Postcodes|
|Metropolitan||1001 to 2082, 2084 to 22342555 to 2559, 2561 to 25672745 to 2749, 2751, 2759 to 2770|
|Outer Metropolitan||2568 to 2574, 2752, 2754 to 27552757 to 2758, 2773 to 2786|
|Wollongong||2500 to 2526, 2530|
|Newcastle/Central Coast||2250 to 2309, 2314 to 2327|
|Country||2311 to 2312, 2328 to 24902527 to 2529, 2532 to 25512575 to 2739, 2787 to 2899|
|Postcode and zone||Suburbs excluded|
|2083, Metropolitan||Mooney Mooney, Cheero Point, Bar Point, Milsons Passage and Cogra Bay are classified as Newcastle/Central Coast|
|2560, Metropolitan||Appin is classified as Outer Metropolitan|
|2750, Metropolitan||Emu Plains and Leonay are classified as Outer Metropolitan|
|2753, Metropolitan||Bowen Mountain, Grose Vale, Grose Wold, Yarramundi and Yarramundi Falls are classified as Outer Metropolitan|
|2756, Metropolitan||Colo, Ebenezer, Freemans Reach, Glossodia, Lower Portland, Wilberforce and Sackville are classified as Outer Metropolitan|
Green Slips for motorbikes
Motorcycles are divided into one of five classes based on their engine capacity ranges:
- Up to and including 225cc
- 226cc to 725cc
- 726cc to 1,125cc
- 1,126cc to 1,325cc
- 1,325cc and greater
More powerful engines carry higher insurance premiums, while your geographic region, personal circumstances and driving history are also factored in.
None of the six Green Slip providers offer at-fault cover for motorcycles, so all your CTP options are exactly the same. This means you should compare them by price alone to find the best deal.
Green slips for trucks
Trucks and buses are also required to have CTP insurance. The NSW Green Slip calculator can provide easy quotes for trucks with a gross vehicle mass of up to 4.5 tonnes. If your truck is heavier than this, or you drive a passenger-carrying bus, you will need to get quotes directly from each of the six Green Slip providers to find the best policy for you.
Green slips for taxi and Uber drivers
Because taxis carry a lot of passengers they have much higher CTP insurance costs than personal vehicles, costing roughly ten times as much. Drivers for Uber and other rideshare services, meanwhile, do not currently have any inflated or additional CTP insurance costs.
However, this is likely to change as legislation is considered to ensure drivers who work for rideshare services like Uber disclose this job to their insurer. In the near future, you should expect Green Slip costs to decrease for taxis and increase for Uber drivers.
Green Slips for pensioners
In NSW there are no pensioner concessions for Green Slips, but there are sharp discounts on the cost of vehicle registration. To get the best value pensioner Green Slip you will need to compare quotes from all six NSW CTP insurance companies.
To get free vehicle registration you must have valid NSW pensioner identification and a Green Slip. Simply apply with these as usual for no registration fees. This is only available for one vehicle at a time per person.
Green Slips for younger drivers
Young drivers have some of the highest Green Slip costs. Being less experienced and, statistically, more prone to risk-taking, they have higher accident rates than most other drivers and therefore also get higher premiums.
Fortunately, the costs will never be unaffordably high. Australia’s six CTP insurance companies are not allowed to set Green Slip premiums above a certain level. Because it’s mandatory, it must always be affordable.
To find the best and the cheapest NSW Green Slips for younger drivers, get quotes from all six Australian CTP insurance companies, then simply pick out the cheapest for you.
How are CTP prices regulated in NSW?
Want to know more about the State Insurance Regulatory Authority and Green Slip regulations?
The State Insurance Regulatory Authority (SIRA) determines the risk levels for different vehicles and locations based on accident and claims data. This data goes into what’s sometimes called the SIRA chart, which is regularly updated.
The insurance company must use the table when establishing the price range for each vehicle type and geographical area. This is to make sure that cross-subsidies are avoided when it comes to people who own different types of vehicles, such as trucks and cars, as well as vehicles garaged in different locations, namely Sydney, outer Sydney, Wollongong, Newcastle/Central Coast and country NSW.
After this, the insurer looks at your individual risk factors and can customise your premiums for you, as long as they fall within the acceptable range. Factors that are considered include the age of the driver, the age of the vehicle, the person's accident history, how often they make claims and even their driving record. Generally, if you are a safe driver, you are more likely to receive a better price for your Green Slip.
Insurers calculate prices differently depending on each individual driver, which means that renewing your Green Slip with the same insurer does not guarantee the lowest price. Shop and compare all six providers every time you renew if you want to save some money.
CTP green lips are always meant to be affordable, so regulations prohibit insurance companies from charging too much. Even if you are an extremely risky driver, the insurer cannot increase your premiums with unaffordable loadings.
Younger drivers with less experience are the ones who gain the most benefit from this, as they are, statistically, the most dangerous and expensive drivers.
Can I get a Green Slip refund?
Do I need a Green Slip?
Am I covered with CTP insurance outside NSW?
Yes. CTP insurance covers you regardless of where you are travelling in Australia.
Who is covered by a Green Slip?
A Green Slip covers the compensation of someone who sustains injuries or dies in a vehicle accident. This includes passengers, cyclists, pedestrians and other drivers. The guilty party is also covered but to a lesser degree, and generally only for severe injuries. Trailers are covered under the Green Slip of the vehicle towing them.
What doesn't a Green Slip cover?
- The driver who is to blame for the incident will not get access to all of the benefits of the scheme. They will only be covered by the Lifetime Care and Support Scheme portion of the Green Slip.
- Any damage to vehicles or property is not covered. CTP insurance is only for human expenses.
- Losses resulting from your vehicle being stolen is not covered.
Where can I get a Green Slip?
Green Slips are sold by six licenced insurance companies in Australia. They must be in full compliance with the stipulations of the Motor Accidents Compensation Act 1999. Licenced insurance companies are regulated by the State Insurance Regulatory Authority of NSW .
Who is the State Insurance Regulatory Authority (SIRA)?
The SIRA is the administrative body for CTP insurance in NSW. It sets price restrictions, determines some factors and manages the program with the goal of making the roads safer.
Who sets premiums?
Green Slip premiums in NSW are set by the insurance brands issuing them, and must fall within parameters approved by the SIRA.
What does my premium pay for?
The premiums you pay are used to cover compensation payments, fund the SIRA and pay for research, education and road safety projects.
Who sells Green Slips in NSW?
Only six insurance companies sell Green Slips in NSW. They are Allianz, AAMI, CIC Allianz, GIO, NRMA and QBE.
Do Green Slip prices vary?
Some brands offer cheaper Green Slips than others, but each brand will only offer you one price, regardless of whether you’re buying directly from the company or through an agent.
Why is there a price difference for CTP insurance from different companies?
Each insurer sets their own Green Slip prices based on their own analysis of risk factors. The SIRA only regulates the highest and lowest allowed limits of these prices.
How do I compare Green Slip prices?
Use the price comparison service offered on the SIRA website to look at offers from all six insurers. The calculator will give you a price from each provider based on your vehicle type and other factors. You will also be given contact information for these providers if you want to make a purchase on the spot.
Unfortunately the Green Slip calculator only works for standard vehicles and motorcycles. If you drive a business vehicle, truck or bus then you will have to contact the insurance companies separately to conduct your own comparison.
Are all Green Slips the same?
All Green Slips, no matter which provider you get them from, are identical, except for two things: The price, and At-Fault Driver Cover, which is an optional extra only offered by Allianz, GIO and NRMA.
What is At-Fault Driver Cover?
This extra lets you claim more medical expenses if you were found to be responsible for the accident. The exact benefits of this extra varies between Allianz, GIO and NRMA.
What’s the easiest way to contact the six insurers?
Get their phone numbers online, or visit their websites. Most insurers have an online system where you can get a quote or buy a Green Slip.
What happens to the Green Slip if I sell my car?
Your CTP insurance gets transferred with the vehicle to the new owner. If you purchase a vehicle that has a Green Slip you need to ensure that the registration is transferred to your name. The RTA is notified whenever a registered vehicle changes hands. They will inform the CTP insurer that the vehicle has a new owner.
Can I cancel a Green Slip?
Yes. Contact the RTA to cancel your vehicle registration first, then provide proof of cancellation to your insurer. You can get a refund for the amount of time left on your Green Slip, though penalties and fees may apply.
Why is the price of a Green Slip different if I want to claim for GST?
The SIRA lets insurance companies charge more because they do not receive an input tax credit for GST when paying out claims, and to cover additional administrative costs.
Will my insurer notify the RTA when I buy a Green Slip? How long does this take?
Yes, your insurer will notify the RTA on your behalf. If you bought your Green Slip online then it only takes about an hour for the notification to go through. If you are working with an insurance agent or broker, then they can tell you how long it will take.
What is an e-Green Slip?
An e-Green Slip simply refers to the insurer electronically notifying the RTA of a Green Slip purchase.
Can I get a lower CTP insurance price from agents or brokers?
No. They will get the same prices from the same providers. Each provider has a specific price for you and using a broker will not change that.
What is an eSafety Check?
eSafety Checks, formerly known as Pink Slips, indicate a safety inspection of your vehicle. This is mandatory for renewing your car registration.
How often should I take my car in for an eSafety Check?
If it’s a new vehicle then you likely won't need an eSafety Check for the first five years. If your vehicle is older than five years, then you must have an annual eSafety Check. Your renewal papers issued by the RTA will let you know if you need one.
Where can I get an eSafety Check?
You must take your vehicle to an Authorised Inspection Station. You can find a list of these on myrta.com.
Can I register a vehicle for under a year?
Yes. Although all vehicles are typically registered for a year, cars, light trucks and motorbikes can be registered for six months, and trailers can be registered for three. Remember that your CTP insurance must be valid for the same period of time as your vehicle registration.
What if I am transferring my vehicle from another state?
The registration requirements are different when transferring cars interstate, but you still need a Green Slip. Check how the requirements apply to you at myrta.com.