As an NSW driver, it’s important to know which CTP insurers sell Greenslip insurance. This type of insurance is mandatory for all registered vehicles in NSW, and it covers the cost of compensation claims for people injured or killed in a motor vehicle accident.
In this blog, we’ll break down the current and previous NSW CTP insurers, how to choose the best CTP insurer and answer frequently asked questions about CTP insurance in NSW.
Current NSW CTP Insurers
Only approved insurers are allowed to offer CTP Greenslip insurance in NSW, as nominated by the State Regulatory Insurance Authority (SIRA). Currently (as of March 2023), there are 6 approved insurers participating in the CTP scheme in NSW: AAMI, Allianz, GIO, NRMA, QBE, and Youi.
Zurich was an approved insurer under the New South Wales scheme, however, it withdrew from the scheme in March 2015 due to other business priorities. CIC was an approved insurer under the New South Wales scheme until March 2019. The CIC brand is owned by Allianz and they decided to consolidate their licences under one brand, Allianz.
Each approved insurer has varying additional covers in addition to the Statutory benefits under the scheme. These can be found here.
How To Choose The Best CTP Insurer
When it comes to choosing the best CTP insurer for your needs, there are a few factors to consider.
Compare Prices From Different Insurers
You should always compare prices from different insurers to ensure you’re getting a competitive rate. At Greenslips 4 Earth, we make it easy to compare prices from all 6 approved insurers in NSW.
We understand that comparing the prices of different CTP insurers can be time-consuming and confusing. That’s why we offer a handy calculator that gives you all the insurer prices in one place. You can simply enter your vehicle details, and we’ll provide you with a list of prices from each of the 6 approved insurers.
Consider Your Additional Coverage Needs
It’s worth noting that each approved insurer has varying additional covers in addition to the statutory benefits under the scheme. These additional covers may include things like personal injury protection or coverage for damage to your vehicle or other people’s property. You can find more information about the additional covers offered by each insurer on our website.
Be sure to understand the additional covers offered by each insurer, as some insurers may offer more comprehensive coverage than others. Choose an insurer that offers the additional covers that are important to you.
Factor In Company Values
Finally, you may want to consider the values of the insurer. At Greenslips 4 Earth, we partner with an insurer that’s committed to environmental sustainability. For every Greenslip sold, our partner plants a tree, which helps to offset carbon emissions and promote reforestation.
By choosing our insurer partner, you can not only get the best price for your CTP Greenslip but also contribute to a greener future.
CTP Greenslip FAQs
Why aren’t their more insurers offering CTP Greenslips?
The answer lies in the robust governance involved in managing a CTP portfolio. The process begins with insurers filing an application to the scheme regulator SIRA, which then reviews the proposal and ultimately approves proposed rates following a series of discussions.
This process ensures the fairness of premiums being charged under the scheme. However, many insurers may shy away from this level of governance and choose to focus on other insurance products.
Why is CTP Greenslip insurance important for NSW drivers?
CTP Greenslip insurance is mandatory for all registered vehicles in NSW. This type of insurance provides protection to injured parties in the event of an accident where they are at fault and someone else is injured or killed.
The insurance covers the cost of compensation claims, including medical expenses, loss of income, and pain and suffering. Without CTP Greenslip insurance, drivers would be personally liable for these costs, which could be significant and financially devastating. It’s important for all NSW drivers to have CTP Greenslip insurance to protect themselves and others on the road.
What are the benefits of using Greenslips 4 Earth to compare CTP insurance?
There are several benefits to using Greenslips 4 Earth to compare CTP insurance. The most obvious benefit is that our calculator provides you with prices from all 6 approved insurers in NSW, saving you time and effort in comparing prices yourself.
Another benefit is our commitment to sustainability. Our partner insurer’s tree-planting initiative allows you to contribute to a greener future with every Greenslip sold. Finally, our website provides information on the additional covers offered by each insurer, so you can make an informed decision about which insurer to choose.
Compare CTP Insurer Rates Today
CTP Greenslip insurance is mandatory for all registered vehicles in NSW, and it’s important for NSW drivers to choose an insurer that provides comprehensive coverage at a competitive price.
At Greenslips 4 Earth, we make it easy to compare prices from all 6 approved insurers in NSW and choose an insurer that aligns with your values. Plus, our partner insurer’s tree-planting initiative allows you to contribute to a greener future with every Greenslip sold. Choose Greenslips 4 Earth for all your CTP insurance needs and check out our CTP calculator now.