Green Slip CTP insurance for NSW

KATIE RODWELL
Finance Writer · 30 April 2021
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, is there to protect you financially against any claims that may arise should you injure or kill someone in a car accident.

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

In this article:

What is 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 kill or 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.

Why do I need 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 and 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 where you can input a few details and compare CTP insurance premiums from all insurers.

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 – CTP in most states is provided by one 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:

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

Does comprehensive car insurance include Green Slip cover?

Comprehensive car insurance does not include Green Slip cover, which needs to be purchased separately when you register your vehicle in NSW. Unlike CTP, comprehensive cover could typically cover damage to your vehicle, as well as to 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.


Car insurance for NSW drivers

CTP doesn’t cover you for damage to other vehicles or other people’s property or damage to your vehicle caused by an accident or other causes such as fire, flood, or storm. To protect yourself, make sure you consider the pros and cons of getting car insurance.

If you’re considering car insurance policies, the comparison table below displays some of the policies currently available on Canstar’s database for a 30-39 year old male seeking cover in NSW without cover for an extra driver under 25. Please note the table is sorted by Star Rating (highest to lowest) followed by provider name (alphabetical) and features links direct to the providers’ website. Use Canstar’s car insurance comparison selector to view a wider range of policies.

 

This article was reviewed by our Digital Editor Amanda Horswill and Deputy Editor Sean Callery before it was updated, as part of our fact-checking process.


Katie covers all things personal finance for Canstar. Katie has worked with companies including American Express, Virgin Money and Hollard Insurance. She has contributed to publications including The Australian, The Australian Financial Review and The Financial Times.