See the table of before and after premium prices to find out how much you may be saving under the current 2017 CTP scheme.
Prices have been reduced for most classes of vehicles. Prices shown below are based on the projected average premium under the previous scheme (if there was no reform) and the average premium under the current 2017 scheme (as at 14 January 2019).
Note: changes to individual risk factors may affect the amount you save, for example, if you add a younger driver to the policy.
If you are purchasing a Green Slip you can compare prices between insurers to get the best price.
A partial refund for 2017 Green Slips is available for many vehicle owners. To see if you are eligible and to claim the refund visit the Service NSW website. The deadline to claim is 30 September 2019.
|Vehicle type||Previous scheme||New scheme||Dollar saving|
|All vehicles (average)||$652||$523||$129|
|Class 1 Motor Car Metro||$710||$546||$164|
|Class 1 Motor Car Country||$481||$418||$63|
|Class 3c Goods Vehicle < 4.5t GVM Metro||$979||$800||$179|
|Class 3c Goods Vehicle < 4.5t GVM Country||$449||$38||$11|
|Class 7* Taxi-Cab Metro||$8336||$5053||$3283|
|Class 7* Taxi-Cab Country||$5203||$3079||$2124|
Note: Figures in this table are on a non-input tax credit (ITC) entitled basis
Premium prices quoted are for the period 1 December 2017 - 14 January 2019
Why didn't motorcycle prices go down?
Green Slip prices have not come down for motorcycles under the new CTP scheme.
With the new six-month no-fault period, injured motorcycle riders, particularly those at-fault in the accident, now receive more coverage and benefits including weekly income payments and medical costs.
Their prices have remained similar to the previous scheme, unless there is a change in their risk factors resulting in a higher premium, in which case it pays to use SIRA’s Green Slip Check and shop around for the best price.
Motorcycle riders (and their pillion passengers) are more likely to be injured in an accident than other types of vehicles. They only make up 4% of registrations yet account for 12% of injury accidents.
Another reason they did not get reduced premiums is that the costs of their injury claims are significantly higher than injuries in any other class of vehicles. The average cost of a motorcycle injury claim was between $250,000 and $300,000 (compared to around $100,000 for other vehicle class injuries). With the current no-fault scheme for the first six months, claims costs for injured motorcycle riders will increase.
Source: NSW Crashlink database from the Centre for Road Safety (Transport for NSW).
Why didn't country premiums go down as much as other areas?
Average CTP prices are cheaper in country areas than in metropolitan areas.
Under the current CTP scheme, prices have dropped in all parts of NSW for motor vehicles and prices continue to be cheaper in country areas compared to the Sydney metropolitan area.