There is a legal requirement for all motor vehicles used on roads or road related areas to be registered. To be registered you must have a current CTP Green Slip. Trailers do not need a Greenslip. 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, and 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. 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. 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.
There is 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 policy holders. 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.
Recent changes to the NSW CTP scheme have been legislated and are being implemented on 1 December 2017. The legislation includes lower insurance fees on your insurance policies. It also automatically offers benefits to the driver at fault for the first six months. There has been a reduction in fraudulent claims and therefore more money will go back to those who need it most when they are injured.