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Where to Find the Cheapest Green Slip in NSW (2021)

Car insurance is complicated, expensive, and confusing—but completely necessary.

Say, heaven forbid, your family road trip ends abruptly when an 18-wheeler drove into the lane and caused multiple injuries. Unfortunately, even the most experienced and careful drivers get into these accidents, as we can never know when and how they might happen.


Young man figuring out how to get his cheapest green slip insurance

​​Photo by RODNAE Productions from Pexels


Nevertheless, since we can’t prevent it, we must prepare for it.

Compulsory Third Party (CTP) insurance or a CTP green slip covers the third party for personal injury or fatalities experienced due to a vehicle accident. Key benefits of this insurance include medical expenses, funeral expenses, and payment for income loss.

The New South Wales government requires all their citizens to purchase this insurance, either for 12 months at a time or less (depending on the vehicle). A CTP insurance covers the following individuals:

  • All passengers in the vehicles affected
  • The person driving the other vehicle (limited cover if they are at fault for the accident)
  • Other individuals injured by the insured vehicle (e.g., cyclists and pedestrians)

Now, the prices for CTP insurance vary widely, so we’ve written this guide to help you find the ​​cheapest green slip in NSW. You’ll save some money and protect yourself from unforeseen harm.

Let’s get into the details of securing the cheapest green slip.


Factors That Affect CTP Insurance


All green slips provide the same insurance coverage required by the legislation, but they don’t come at the same prices. Still, the State Insurance Regulatory Authority (SIRA) regulates all green slip prices proposed by insurers and evaluates them against its Premium Determination Guidelines. 

The SIRA will refuse any prices that are too excessive or won’t fully fund the insurer’s liability, while ensuring that the scheme encourages insurers to be more competitive in providing affordable rates.

Insurers use the following factors in adjusting their prices, although with varying weightings:

  • Geographic region
      • Sydney Metropolitan
      • Outer Metropolitan
      • Wollongong
      • Newcastle or Central Coast
      • Country
  • Vehicle details
      • Type
      • Age
      • Performance
      • Distance travelled
  • Passenger details
      • Age of vehicle owner
      • Age and gender of the youngest driver
  • Driver’s history
      • Number of years licensed
      • Number of traffic offences
      • Number of demerit points
  • Claims history
    • Level of insurance
    • Number of at-fault claims

Moreover, insurers can charge different premiums depending on the risk level of their customer portfolios. 

For example, some regions are densely populated. As a result, vehicles constantly have to avoid accidents with other cars and pedestrians—resulting in higher premium amounts. Insurers may also charge steeper prices for new drivers, as their lack of driving experience increases the chance of an accident.

Either way, ensure that you’re paying the right amount for your CTP insurance by providing accurate information (region, vehicle details, etc.) for the insurer to calculate accordingly.

And if you’re not satisfied with the green slip you have, you can get a refund on it. Just provide a letter that shows that the Service NSW confirms the cancelled registration of your vehicle. The insurer may deduct an administration fee, but that’s about it.


How to Find the Cheapest Green Slip


So how do you find the cheapest green slip or CTP insurance? As you scout around for CTP providers, you’ll notice how the prices vary widely, even with the SIRA-regulated price range.

Some insurers will also change their prices over time. They only need to have it approved with the SIRA before charging new rates, making it necessary for you to find affordable ones with every renewal.


Nevertheless, here are some tips to get cheap CTP insurance in NSW:


Consider What Insurance You Need


If you don’t have any other insurance to cover the financial expenses of an accident, taking a bundle deal will give you increased peace of mind. These are the deals that include more car insurance products to cover both your and others’ property damage—giving you comprehensive insurance coverage.

So, discuss what additional features you’re entitled to with your insurer to get the best deal possible.


Find Multiple Quotes from Insurers


As mentioned earlier, insurers apply different weighting to their pricing factors. This means you’ll get a wide range of quotes even with the exact same basic information.

For instance, if the fact that you’re a brand new driver is driving up the price, remember that some insurers’ criteria won’t be as strict with it. The same goes for other factors such as vehicle type and driver history, giving you the opportunity to get lower quotes.

Take the time to shop around and look for a CTP insurer that prices to your advantage.


Take Advantage of the Pricing Scheme


Think of the factors that affect insurer pricing. See what you can do to decrease the estimated cost and score cheap CTP insurance. Here are a few tips you can do:

  • Choose the safest vehicle possible so insurers won’t see increased risk.
  • Maintain a good driving history so insurers won’t predict a lot of future accidents.
  • Gain more driving experience so insurers will expect a favourable outcome.

Additionally, ensure that you provide accurate details to the insurer. Lying in the hopes of securing a cheaper deal will only backfire, as they’ll charge you with non-disclosure penalties and possibly decline your insurance claims. 

Do you need a quicker way to secure a cheap CTP green slip?

We have a green slip calculator to automatically retrieve and compare quotes from authorised insurers. Enter your details, answer a few questions, and the calculator will show you the available price options.

If you’re still not satisfied with the options given, you can contact the insurers directly and discuss the CTP insurance they can provide to meet your needs. Once you find the perfect one, simply purchase the green slip online or get a quote.


Secure the Cheapest CTP Green Slip NSW Today


Get your green slip with us, and you’ll provide more than just a safety net for possible accidents.

Not only do we have comparable and cheap CTP prices, but we’ve partnered with environmental experts to plant trees and offset vehicle CO2 emissions for every green slip we sell. We believe strongly in our vision to conduct our business sustainably, and we can’t wait for you to join us.

In other words, green slips with us mean a greener future together.

Contact our team today to get a green slip that helps you go green!

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Just a friendly reminder before you start….


Before you enter into an insurance contract, you have a duty to tell the insurer anything that you know, or could reasonably be expected to know, that may affect the insurer's decision to insure you and on what terms. You have this duty until the insurer agrees to insure you. You have the same duty before you renew, extend, vary, or reinstate an insurance contract.

For Personal, Domestic and Household insurance contracts, you have an additional duty to take reasonable care not to make a misrepresentation to the insurer. To ensure you meet your duty, your responses to the insurer's questions must be truthful, accurate and complete.


If you do not tell the insurer anything you are required to, they may cancel your contract, or reduce the amount they will pay you if you make a claim, or both. If your failure to tell the insurer is fraudulent, they may refuse to pay a claim and treat the contract as if it never existed.

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