Did you know that CTP prices can change multiple times throughout the year? Just because you have secured the best rate on your CTP today, doesn’t mean that your provider will be offering the best rate when you go to renew your greenslip. Discover everything you need to know about greenslip prices including how often they change and how you can take advantage of the best rate every time you renew.
Everything You Need To Know About CTP Price Changes
Approved insurers who participate in the NSW CTP Scheme must seek approval from the State Insurance Regulatory Authority (SIRA) every time they decide to change their CTP prices. This process is called “File and Write”.
File and Write = File your rates, have them approved, and then Write your premiums.
Insurers must file rates at least once a year. This is now done more frequently and is currently on average every four months. This means that insurers’ CTP prices will change every four months currently, on average.
One should therefore compare CTP Greenslip prices at each renewal to ensure their CTP renewal policy is still the most competitive in the market.
Aside from the At-Fault Driver Protect add-on covers offered by insurers (read more about At-Fault Driver Protect here) all CTP policies offer the same protection. This means that CTP greenslip prices, rather than the cover, are the significant factor to consider when deciding which policy to purchase.
Main Factors Affecting CTP Price
Why do CTP prices change so much? The CTP Price varies across different types of vehicles. Greenslips 4 Earth offers CTP insurance for cars, vans, buses, and business use vehicles including heavy trucks plus ride-sharing vehicles like Taxis and Ubers. The individual CTP price is determined based on your vehicle age, vehicle performance, driver’s age, geographic region, usage, driving history, and claims history.
CTP insurance for businesses is also available and subject to certain levies. Green slip prices may be discounted for fleets of more than 10 units.
CTP Green Slip Price Check
Our online green slip calculator can be used to conduct CTP price checks for most vehicles including heavy motor vehicles over 4.5 tonnes. Where quotes are not provided please call our hotline to determine the exact value of the quote.
How To Secure The Lowest CTP Price At Each Renewal
With such frequent CTP greenslip price changes, there is every chance that your current provider won’t be offering the best rates when it comes time for you to renew. Instead of simply rolling over your CTP insurance, secure the lowest rate available by checking our Greenslip Calculator every time you renew.
Does CTP Insurance Cover My Property and Car Damages when I’m at fault?
No, CTP insurance only covers third-party accidents. If you want additional coverage for your motor vehicle, you may purchase a comprehensive car insurance policy. Some insurance companies also offer At-Fault cover, though this cover will vary between providers.
Compare CTP Greenslips Now
Is your CTP renewal coming up? Don’t miss out on the best rates available. Use our CTP Calculator to compare CTP prices and secure the lowest price on the market at every renewal.
CTP price comparison issues? Call us at 1300 593 291 for a hassle-free way to get competitive CTP insurance prices now.