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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.
There’s not much of a difference, to be honest! A Green Slip is just what they call CTP in New South Wales. It gives your coverage if you’re responsible for an accident where someone is injured or killed. It’s also illegal to drive or register your car in NSW without a Green Slip.
How you get a Green Slip in NSW is a little bit different than getting CTP in other states or territories. Instead of only having one, state-owned insurer to choose from, NSW drivers can get their Green Slip from a list of registered providers. You can also compare what’s on offer and purchase a Green Slip through the State Insurance Regulatory Authority’s Green Slip Price Check website.
Just like CTP insurance in other states, you can think of your Green Slip as your “bare minimum insurance.” If you’re involved in an accident, your Green Slip insurance plan can cover anyone injured or killed, including:1
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. Many 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 January - December 2022.:
Yes, most car insurance policies will come with some kind of excess, and New South Wales is no exception.
For the uninitiated, an excess is the amount you’ll pay out-of-pocket when you make a claim. So if you make a claim for $1000 in car repairs and the excess on your policy is $100, you’ll need to put $100 towards the repair first before your insurer forks out the remaining $900.
But wait—there is a bright side! Some insurers will lower your premium if you select a higher excess.2 Even though it’s not an ideal arrangement for everybody, if you’re willing to pay a bit extra come claim time, then you’ll get to enjoy lower premiums.
New South Wales 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 so many providers to choose from, you’ll quickly find out 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:
There isn't a dedicated government website for comparing Comprehensive Car Insurance like there is with Green Slips. Instead, you can compare Third Party and Comprehensive Car Insurance with iSelect. Our car insurance comparison tool will let you compare policies from a range of providers*, so give it a try today or call us on 13 19 20 to chat with our friendly team!
1 NSW Government | State Insurance Regulatory Authority - What is a Green Slip?
2 Moneysmart - Car Insurance
3 Australian Government | Department of Infrastructure, Transport, Regional Development, Communication and the Arts - Motor Vehicles, Australia, January 2022, First Issue (Page 5)
4 NSW Government | Centre for Road Safety - Crashes by Type and Region
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9 Budget Direct- Seniors Car Insurance