Compulsory Third Party (CTP) insurance or a CTP Green Slip is a type of insurance that covers the third party for personal injury or fatality following a vehicle accident. It is a requirement to purchase this CTP green slip if you live in New South Wales. Greenslip coverage is usually 12 months but it can be purchased for 6 and 3 months coverage depending on the vehicle
Motor vehicle accidents happen unexpectedly, and it is a great idea to always be prepared. Unfortunately, a driver who is at fault will not be covered or get any claim benefits. A green slip will cover the third parties involved such as:
- All passengers in your vehicle
- The person driving the other vehicle
- Other road users injured by the insured vehicle involved in the accident. These will include unlucky cyclists and pedestrians.
Next of kin can also claim compensation.
Key benefits include payment for loss of income, medical, and funeral expenses. On the other hand, a green slip will not cover the cost of the damaged property or vehicles.
How to Purchase your CTP Greenslip
Using our online calculator, you need to enter accurate details. You will be asked a few questions and the quote will depend on your answers. Demerits on your licence can be a factor in price determination and some insurers verify the accuracy of responses against RMS data.
With our calculator, you are given options to compare quotes from the five authorised insurers in NSW. Insurers determine their green slips prices and use different factors to determine their prices.
Feel free to visit our Greenslip calculator and compare the prices provided by each insurer. If a vehicle owner is not satisfied with the options available, he or she can contact the insurer directly and pick an option that meets his or her needs.
How to Renew your CTP Greenslip
The CTP Greenslip renewal reminder is emailed to the vehicle owner at least four weeks before expiry. The address last recorded at the RMS is the address where the renewal will be posted. If you have elected to receive your renewal via email, the last recorded email captured by the insurer will be where the insurer will send their renewal terms.
If you are wondering how a green slip price is set for each motor vehicle, you can check our blog here.
Even if a vehicle owner has used an agent to buy a CTP green slip, it is a requirement by law for the insurer to directly post/email the CTP Green Slip renewal to the owner.
Why Trust Greenslips 4 Earth
Our incomparable and budget-friendly prices spur many clients in this area. By comparing the entire market, we are head and shoulders above our competitors because, in addition to providing the cheapest price, we are an environmentally conscious organisation ready to make a difference and improve the world. We have partnered with many environmental experts who assist us in planting trees, offsetting vehicle CO2 emissions, and making the world a better and safer place.
We have stood out in the region thanks to our “Plant one tree for every Green Slip Sold through our Environment Partners” initiative, and our friendly staff is more than happy to assist and answer all your questions. Get in touch today, and find out how you can help make a positive contribution to your surroundings.