The Green Slip in NSW is also referred to as CTP insurance across most other states of Australia. In short, it’s a car insurance policy that provides compensation for people killed or injured in a motor vehicle accident1.
Without it, you could end up personally accountable for the compensation costs that occur when people sustain injuries, if you’re the person that causes the accident2. The price of compensation costs can be quite large, ranging from thousands to even hundreds of thousands of dollars.
In NSW, drivers are expected to choose their own CTP insurance provider before they register their vehicle. You’re able to buy a Green Slip through a number of outlets or licensed insurers, and there are five insurers licensed to provide Green Slips across NSW, and most of these providers are able to offer you quotes online, although you can call them and speak to them directly over the phone if that is more convenient for you3.
The five insurers licensed to provide you with a Green Slip in NSW are:
Each policy can differ, so it’s up to you to work out which policy suits your requirements best. Once you’ve purchased your policy, your chosen insurer will then work with Roads and Maritime Services (RMS) to facilitate a seamless and prompt registration of your vehicle3.
The Green Slip covers all injured parties in a road accident, regardless of who is determined at fault. However, it’s important to note that this doesn’t apply if the driver is charged with a dangerous driving offence.
The Green Slip allows you to claim up to six months (26 weeks) of the following:
If you find yourself seriously injured after being involved in an accident that wasn’t your fault, you may also be able to claim benefits past the 6-month time span4.
Anyone injured by your vehicle is covered by this policy including the following:
It’s important that you’re aware that the Green Slip or CTP insurance does not cover the damage made to any vehicles that are involved in the collision. Note that it doesn’t cover damage to any properties that are damaged either.
Generally, there are two different types, leaving the average driver with the choice between either a 6-month or 12-month policy. If you’re a motor dealer or a fleet owner, the options may vary more when it comes to picking a policy.
If you drive a historic vehicle, a purpose-built vehicle, or any other limited road access vehicles, you may be able to take out an unregistered vehicle permit or even conditional registration.
Looking for a comprehensive car insurance policy? With iSelect you can compare car insurance policies on offer from our range of providers, and you can select a policy of your choice. Start comparing online today, or call our friendly team on 13 19 20.