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Calculating your cost

Insurers set their own Green Slip prices in a competitive market, which is why we want you to shop around or use our Green Slip Calculator to get the best deal.

This is general advice only. Give us a call if you need more information.

Insurers set their prices depending on a number of factors. These factors affect the price you pay.

These factors include:

1. Base premium determined

The insurers set their own base premium. In simple terms the premium must:

2. Weighting factors are added

Insurers then apply weighting factors (called premium relativities) to the base premium.

These depend on the vehicle class and where the car is garaged. These are reviewed regularly.

3. A percentage increase or decrease is applied

A per cent increase or decrease is applied, according to ‘risk rating factors’ that relate to the vehicle,  the owner and information on who drives the vehicle.

Risk factors can include:

  • the age of the owner/driver and their driving record (eg number of at-fault crashes, insurance history, demerit points and no claims bonus)
  • the age of the vehicle

A higher risk group is one that has resulted in more claims in the past.

These are determined by each insurer within limits that are set and reviewed by us from time to time.

4. Medical Care and Injury Services (MCIS) levy is added

The MCIS levy is used to pay for:

  • public hospital and ambulance costs of all road accident victims
  • all people requiring lifetime care through icare following a motor accident, and
  • the operation of SIRA in administering the MCA Act

This is set and regularly reviewed by us and icare.

5. GST is added

A Goods and Services Tax (GST) is added into the price you pay.  No GST is payable on the MCIS levy.

Further information

Compare prices online

Insurers set their own Green Slip prices in a competitive market, which is why we want you to shop around or use our Green Slip Calculator to get the best deal for your passenger vehicle, light goods vehicle or motorcycle.

Legislation

You can read the Motor Accidents Compensation Act 1999 (MAC Act 1999) for a full explanation of these requirements.

Guidelines

These guidelines are what we and insurers follow when setting CTP insurance prices: