Green Slip Insurance Information - Compulsory Third Party Insurance

CTP Greenslip Insurance



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 trailer.

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 provider.

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 change.

Below are a few changes that may have impacted your CTP Greenslip insurance premium:

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
NRMA Insurance

Victoria
Transport Accident Commission

Tasmania
NRMA Insurance

South Australia
Motor Accident Commission (Claims managed by Allianz Australia)

Western Australia
Insurance Commission of Western Australia

Northern Territory
Territory Insurance Office (Motor Accidents Compensation Department)

Queensland
AAMI
Allianz Australia
IAG trading as NRMA
QBE Insurance (Australia) Limited
RACQ Insurance Limited
Suncorp Metway Insurance Limited



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