There is a legal requirement for all motor vehicles used on NSW roads or road-related areas to be registered. To be registered you must have a current CTP green slip. This highlights the CTP green slip importance for all NSW drivers. Without CTP, you won’t be able to legally drive on any NSW roads.
CTP Green Slip Importance in NSW
Before you register your car, it is necessary to know the importance of CTP Greenslips and buy Compulsory Third Party Insurance (CTP), or a Greenslip as it is also referred to in New South Wales. This covers your liability if you or someone who is driving your car causes personal injury to someone else, including your passengers, in an accident.
Not only will your CTP cover the third party’s medical expenses, but it also covers other costly factors as well. A green slip will cover a portion of the injured party’s income if the accident has resulted in them being unable to work. You will also be covered for liability, meaning that you or the driver of your vehicle won’t be liable for injuries sustained in a road accident involving your vehicle. This may not apply if you were the driver at fault.
What Happens If You Don’t Have CTP
If you do not have CTP insurance and your vehicle is not registered, you may be personally liable for any injuries you cause and other penalties may apply which can run into many thousands of dollars. Not only could you be on the hook for the injured party’s medical expenses, loss of income, and be liable for the accident, but you will likely also receive legal, consequences for driving an uninsured, unregistered vehicle.
One should also note that if you have a valid Greenslip and your car is not registered, then your Greenslip offers no protection as it is not active through your vehicle registration. Your car must be registered for your Greenslip to offer you any protection.
The Benefits Of A CTP Green Slip Insurance Policy
A CTP insurance policy comes with a great range of benefits to protect you now and in the future. Most insurers include specialised personal injury claim staff to take care of your claim and ensure the people who are injured can have access to rehabilitation and healthcare professionals.
Some insurers offer discounts to eligible insurance policyholders. Discounts or loyalty bonuses are not available on CTP Insurance, however, these benefits can be passed on through other insurance products offered by the same insurer. This may mean the more policies you have with the one insurer or the longer you are with the one insurer, the more money you could possibly save.
Save Money On Your CTP Insurance Policy
Want to secure the best possible rate for your CTP green slip insurance policy? Compare green slip rates from leading providers quickly and easily. Our CTP Calculator allows you to check, compare, and purchase CTP within minutes. We also plant a tree for every policy sold to help offset carbon emissions.
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