As in most states, NSW drivers need Compulsory Third Party insurance (or CTP), before they can register a vehicle. In NSW, CTP insurance is known as a Green Slip, and it can protect you from being financially liable if you injure yourself or someone else while driving.
Both Green Slips and CTP insurance can provide coverage if you’re responsible in an accident where someone is injured or killed. And just like CTP insurance, a Green Slip is mandatory - it’s illegal to drive or register your car without one.
So what’s the difference then? Unlike other states where CTP insurance is purchased from one state-owned insurer, NSW drivers can get their Green Slip from a list of providers. And with several providers to choose from, you can compare plans to find one that suits your needs and budget.
Just like CTP insurance, you can think of your Green Slip as “bare minimum insurance.” If you’re involved in an accident, your Green Slip insurance plan can cover anyone injured or killed, including:
In New South Wales, every driver is required to have Green Slip insurance as the minimum requirement to register your vehicle. But just because additional cover isn’t mandatory doesn’t mean it isn’t worth considering. A Comprehensive policy could provide peace of mind from the knowledge that in the event of an accident, both third party damage costs and any damage to your vehicle could be covered. But if you’re not too fussed about having to foot the repair bill for your own car, a Third Party Property or Third Party Fire & Theft policy can provide cover if you damage someone else’s vehicle in an accident.
It’s important to keep in mind that if you’re in an accident, your Green Slip will not cover you for damage to your own or any other vehicle or any property. It also won’t cover your own vehicle if it’s damaged or stolen.
A Green Slip can cover personal injuries that might arise in an accident. Some drivers in NSW also choose to purchase additional coverage, such as:
According to iSelect car insurance data for New South Wales and ACT, the below are the average comprehensive premiums for FY20:
The state is home to some of Australia’s busiest roadways, and all that traffic means collisions happen daily. Let’s take a look at some roadway statistics in NSW:
You might think you’d never be at fault in an accident, but the truth is that it can happen to anyone. Requiring drivers to have Green Slip insurance helps protect everyone on the road in NSW.
With multiple providers to choose from, you’ll find that not all insurance policies are the same. Whether you’re looking for a Green Slip, or are shopping for more comprehensive coverage, we’ve put together these quick tips to help you get started:
By now you know that getting a Green Slip is essential if you’re planning on registering your car in NSW. But if you’re looking for that extra level of coverage, iSelect can help you compare the comprehensive car insurance policies on offer from our range of providers and policies. Our car insurance comparison tool will do most of the work for you, or you can give us a call on 13 19 20 to chat with our team.
Last updated: 11/12/2020