CTP Green Slip in NSW

CTP insurance is a mandatory car insurance for all drivers in every state and territory within Australia. CTP, commonly known as Green Slip insurance in New South Wales, protects you financially against any claims that may arise should you harm or fatally injure someone in a car accident.

Canstar takes a look at what Green Slip insurance is, what it covers and how you can get it in NSW.

What is CTP Green Slip insurance and what does it cover?

Compulsory Third Party (CTP) insurance, known as Green Slip cover in New South Wales, is a type of car insurance that every driver is required  to have in place before getting behind the wheel. CTP protects drivers against compensation claims made if they were to harm or fatally injure someone in a road traffic accident. Some insurers also offer a level of compensation should you injure yourself and are at fault in an accident. CTP does not insure you for any damage caused to your vehicle or other people’s cars or property. To be protected against these kinds of risks, you could consider a higher level of cover, such comprehensive car insurance.

Related: What types of car insurance are there?

Why do I need CTP Green Slip insurance?

All drivers registering their vehicles in New South Wales are required by law to have a NSW CTP Insurance policy. The state has a ‘no-fault’ CTP scheme, under The Motor Accident Injuries Act 2017 (NSW). This means that anyone who sustains a severe injury from a road traffic crash involving a registered vehicle in NSW would be eligible for lifetime treatment, care, and support, regardless of who may have been at fault in the accident.

How much does CTP Green Slip insurance cost?

Insurance premiums can vary widely from policy to policy. That’s because the cost of CTP Green Slip insurance is calculated by insurers and is based on a number of factors set by the NSW State Insurance Regulatory Authority, such as the type of vehicle being insured and where it is kept when not being driven. CTP insurers will also take into account risk factors such as the vehicle’s age, whether you use that vehicle privately or commercially, your age, driving history and whether you have made any previous claims or have any demerit points on your licence. Service NSW provides a useful CTP insurance price check. You can also compare CTP insurance from all insurers with Canstar.

How do I get CTP Greenslip insurance?

NSW is one of the few Australian states/territories that offers residents a choice of CTP insurance provider. In most states CTP is provided by a state-owned or government-licensed insurer.

The insurance companies currently licensed to offer CTP insurance in NSW at time of writing, listed in alphabetical order, are:

• AAMI
• Allianz
• GIO
• NRMA
• QBE
• Youi

Does comprehensive car insurance include CTP Green Slip cover?

Comprehensive car insurance does not include Green Slip cover. This needs to be purchased separately when you register your vehicle in NSW. Unlike CTP, comprehensive car insurance typically covers damage to your vehicle and other people’s vehicles or property, even if you are at fault. It could also cover damage caused by fire, hail and storms, and replacement costs if your vehicle is stolen or written-off. In addition to these standard inclusions, insurers often offer a range of extras. Some could be included in the policy, while others may be optional and incur additional fees or higher premiums.

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