Every CTP insurance guide tells you to compare green slip prices before your renewal. That’s usually smart; price differences between NSW CTP insurers can exceed $100 for identical coverage.
But switching green slip providers isn’t always the right move. Here are three scenarios where staying put actually saves you money.
Scenario 1: You’re Losing NRMA’s Loyalty Discount
NRMA is the only CTP insurer in New South Wales that offers loyalty discounts on green slips. Each consecutive year you hold your CTP policy with NRMA, your CTP premium decreases.
Switch to another insurer—even for a small saving—and you reset that clock to zero.
When to stay: You’ve held NRMA green slips for 3+ years and a competitor’s CTP insurance quote is only $20-40 cheaper. The long-term discounts outweigh short-term savings.
Scenario 2: You’re Breaking Multi-Policy Bundle Savings
If you hold multiple insurance products (including comprehensive car insurance for covered damage and property theft), switching your CTP green slip can affect your other premiums.
| Insurer | Bundle Benefit |
| GIO CTP | 10% discount on other types of insurance when holding 3+ policies (CTP counts toward eligibility but cannot be discounted) |
| NRMA | Loyalty benefits extend across insurance portfolio |
The hidden cost: You save $50 on your green slip by switching to QBE or Allianz, but lose $80 in discounts on your home and car insurance.
When to stay: You hold 2+ insurance policies with GIO or NRMA and benefit from their multi-policy structure.
Scenario 3: You’re Trusting Outdated Calculator Prices
This is the most common green slip comparison mistake. A Reddit user reported calculator prices were $250-300 different from actual insurer quotes after recent price increases.
Why does this happens:
- Calculators may lag behind SIRA-approved CTP premium changes
- The January 2026 fund levy increased to $196.96 for Sydney metro vehicles
- Your claims history, demerit points, and vehicle’s age may be processed differently
When to be careful: Always verify your top 2-3 calculator results directly with insurers before your due date. Use the Greenslips 4 Earth calculator as a starting point, then confirm before you purchase.
Bonus: Switching After Demerit Points or a Driving Offence
Your driving history follows you between insurers—but how they weight it varies. If you’ve accumulated demerit points or committed a serious driving offence, your current CTP insurer may offer better rates than a new one would.
Some insurers charge flat penalties regardless of points, while others scale aggressively with each driving offence. For learner drivers or those with recent at-fault accidents, this difference can be substantial.
When to stay: You’ve had demerit points or at-fault claims in the past 3 years and your current renewal is comparable to market rates.
Understanding What CTP Covers vs. Comprehensive Car Insurance
Before you change CTP insurers, understand the difference between mandatory CTP insurance cover and optional comprehensive car insurance:
| CTP Green Slip Covers | What CTP Doesn’t Cover |
| Injuries sustained in a motor vehicle accident | Covered damage to your own car |
| Injured person’s medical treatment | Property theft |
| Lost income for injured people | Liability for damage to property |
| Lifetime care for severe motor accident injuries | Damage to other vehicles |
Your CTP policy provides the same level of coverage regardless of which insurer you choose; the difference is only price and claim service. This is why CTP insurance is compulsory when you register your vehicle in NSW and all other states across Australia.
The Smart Approach: Compare, Verify, Then Decide
Switching green slip providers saves most NSW drivers money, but these scenarios prove that blind switching can backfire.
Before you change CTP insurers, ask:
- Am I losing NRMA loyalty discounts?
- Will this break my multi-policy bundle with GIO or NRMA?
- Have I verified calculator prices directly with insurers?
- Do recent demerit points or driving offences affect how new insurers would rate me?
If the answer is “yes” or “unsure,” calculate the true cost before making your decision. Your CTP insurance quote is only valid for a limited time, so compare close to your renewal due date for accurate prices.
People also ask about switching CTP insurance providers
Still unsure if the big switch is for you? Or should you really need to? Here’s what you need to know.
1. Do I need to cancel my old CTP policy when switching insurers?
No. Simply don’t pay the renewal invoice from your current insurer and purchase a new green slip from your chosen provider before your due date. The system automatically notifies Transport for NSW. Your old CTP policy expires naturally at the end of your registration period.
2. Can I switch CTP insurers mid-policy for a refund?
Not easily. To cancel mid-term, you must first cancel your vehicle registration with Service NSW and obtain a deregistration confirmation letter. Only then can the insurer process a partial refund for the unused portion—and an administration fee (around $22) may apply.
3. Does it matter which CTP insurer I choose for claims?
All six NSW CTP insurers provide identical statutory benefits under the Motor Accident Injuries Act 2017. The CTP insurance cover for motor accident injuries (including medical treatment and lost income) is legislated, not insurer-dependent. The difference is in price and customer service quality.
4. Why is my renewal quote higher than new customer prices?
Some insurers use introductory pricing to attract new customers. Your renewal quote reflects their current assessment of your risk profile, including claims history, demerit points, and the vehicle’s age. However, NRMA rewards loyalty with discounts; the only CTP insurer to do so.
5. Are there government discounts for safe drivers on CTP?
No. The “Fair Go for Safe Drivers Scheme” ended in 2024 and only applied to licence fees, not CTP insurance. However, a clean driving history with no demerit points or at-fault accidents will result in lower CTP premium quotes from all insurers.
6. How does NSW CTP differ from the Australian Capital Territory?
The Australian Capital Territory uses MAI insurance (Motor Accident Injuries) instead of CTP green slips. While both cover motor accident injuries, the systems differ. If you’re moving interstate, you’ll need to register your vehicle under the new state’s scheme and understand its registration requirements.
