See the table of before and after premium prices to find out how much you may save under the new CTP scheme.
Prices have been reduced for most classes of vehicles. Prices shown below are based on the average premium under the previous scheme and the average premium under the new, current scheme (as at 1 December 2017).
Note: changes to individual risk factors may affect the amount you save, for example, 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 refund will also be available in 2018 for many vehicle owners.
|Vehicle type||Previous scheme||New scheme||Dollar saving|
|All vehicles (average)||$652||$528||$124|
|Class 1 Motor Car Metro||$710||$553||$157|
|Class 1 Motor Car Country||$481||$423||$58|
|Class 1 Motor Car Newcastle||$471||$359||$112|
|Class 1 Motor Car Outer Metro||$571||$407||$164|
|Class 1 Motor Car Wollongong||$553||$424||$129|
|Class 3c Goods Vehicle < 4.5t GVM Metro||$979||$816||$163|
|Class 3c Goods Vehicle < 4.5t GVM Country||$449||$400||$49|
|Class 3c Goods Vehicle < 4.5t GVM Newcastle||$579||$458||$121|
|Class 3c Goods Vehicle < 4.5t GVM Outer Metro||$672||$542||$130|
|Class 3c Goods Vehicle < 4.5t GVM Wollongong||$760||$655||$105|
|Class 3d Goods Vehicle 4.5t - 16.0t GVM Metro||$1721||$1396||$325|
|Class 3d Goods Vehicle 4.5t - 16.0t GVM Country||$677||$533||$144|
|Class 3d Goods Vehicle 4.5t - 16.0t GVM Newcastle||$1140||$890||$250|
|Class 3d Goods Vehicle 4.5t - 16.0t GVM Outer Metro||$1181||$932||$249|
|Class 3d Goods Vehicle 4.5t - 16.0t GVM Wollongong||$1045||$811||$234|
|Class 3e Goods Vehicle > 16.0t GVM Metro||$4202||$3533||$669|
|Class 3e Goods Vehicle > 16.0t GVM Country||$2215||$2007||$208|
|Class 3e Goods Vehicle > 16.0t GVM Newcastle||$2384||$1870||$514|
|Class 3e Goods Vehicle > 16.0t GVM Outer Metro||$2599||$1997||$602|
|Class 3e Goods Vehicle > 16.0t GVM Wollongong||$3047||$2310||$737|
|Class 7* Taxi-Cab Metro||$8336||$4947||$3389|
|Class 7* Taxi-Cab Country||$5203||$3093||$2110|
*For ITC-entitled policy holders
Why aren’t motorcycle prices coming 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 are not getting 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 is between $250,000 and $300,000 (compared to around $100,000 for other vehicle class injuries). With the new 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 are country premiums not coming down as much as other areas?
Average CTP prices are cheaper in country areas than in metropolitan areas.
The average CTP premium for a motor vehicle in country NSW is currently $481 compared to Sydney metropolitan prices of $710.
Under the new CTP scheme, prices will drop in all parts of NSW for motor vehicles and prices will continue to be cheaper in country areas compared to the Sydney metropolitan area.