NSW CTP Greenslip Insurance
CTP (Compulsory Third Party) Greenslip insurance covers personal injury caused
by an at fault driver to the driver's passengers and all other road users
including drivers and occupants of other vehicles, motorcyclists, pillion
passengers, pedestrians and cyclists. It also covers personal injury caused by a
CTP Greenslip insurance is the only motor vehicle insurance cover that is
compulsory but is also the most straight forward insurance to choose from
because there are fewer variables and fewer insurers (a total of seven in NSW).
Which factors increase the price of your CTP Greenslip?
- If your vehicle usage is for anything other than private use
- Motorcycles over 300cc
- Drivers under the age of 25 and in some cases under the age of 30
- Your accident record
- The age of your vehicle
- The type of vehicle you drive
- If you don't have either an existing Comprehensive or Third Party Property
insurance policy with your CTP Greenslip insurer
- A new CTP Greenslip insurance policy is usually more expensive than a renewal
- Where your car is garaged (see MCIS levy percentages for various zones below)
What is the MCIS levy?
There are two components to your CTP Greenslip:
1) The base rate charged by your CTP Greenslip insurance provider
2) The MICS (Medical Care and Injury Services) levy
The MCIS levy is set aside as a contribution to cover the ongoing cost of
lifelong traumatic injuries (including brain injury and severe spinal cord
injury) resulting from a motor vehicle accident.
According to where you live, it is a percentage of your total CTP Greenslip
premium that is calculated on the base rate of your CTP Greenslip insurance
MCIS levy percentages for motor cars:
Sydney Metropolitan: 34.5% of CTP Premium
Wollongong: 39.1% of CTP Premium
Sydney Outer Metropolitan: 39.8% of CTP Premium
Newcastle / Central Coast: 42.5% of CTP Premium
Country: 43.6% of CTP Premium
Why have CTP Greenslip insurance prices risen recently?
CTP Greenslip insurance has recently become a bit of a smoke and mirrors game.
The sudden price increases have left many people scratching their heads
wondering what has changed and whether there is any justification for the
Below are a few changes that may have impacted your CTP Greenslip insurance
Most nominated CTP insurance companies previously offered discounts for CTP
Greenslip Insurance if you held either a Comprehensive or Third Party Property
insurance policy with them. It seems that some have revised their discount
policy which no longer includes Third Party Property policies.
The age risk limit has also been revised by some insurance companies so that the
high risk category, which previously included drivers under the age of 25, now
also includes drivers under the age of 30.
For some people CTP Greenslip price rises could be a result of family growing
pains. If you have recently added a younger driver (under 25) to your insurance
policy then that will certainly affect your CTP Greenslip premiums.
Whatever the reasons for the price hikes, there is nothing you can do about it
other than vote with your feet and shop around. There are still good CTP
Greenslip deals to be had and since there are only seven providers, it's not so
hard to compare.
CTP Greenslip Insurance Providers in NSW:
The Magnificent Seven!
AAMI, NRMA, Allianz, QBE, CIC, Zurich, and GIO
Compare CTP Greenslip Prices
Motor Accidents Authority of NSW
The Motor Accidents Authority of NSW (MAA) offers an excellent online price
comparison for all seven CTP Greenslip insurance providers in NSW
www.maa.nsw.gov.au. Use this information as a guide then contact your current
provider as well as the standouts for better deal.
CTP Information for other states and territories
Motor Accident Governing Bodies
ACT: NRMA Insurance Limited
VIC: Transport Accident Commission
TAS: Motor Accidents Insurance Board
SA: Motor Accident Commission
WA: Insurance Commission of Western Australia
NT: Territory Insurance Office
QLD: Motor Accident Insurance Commission
CTP Insurance Providers:
Australian Capital Territory
Transport Accident Commission
Motor Accident Commission (Claims managed by Allianz Australia)
Insurance Commission of Western Australia
Territory Insurance Office (Motor Accidents Compensation Department)
IAG trading as NRMA
QBE Insurance (Australia) Limited
RACQ Insurance Limited
Suncorp Metway Insurance Limited