A greenslip or compulsory third party insurance (CTP) is a legal requirement for vehicles registered in NSW. To register your vehicle you must have a green slip. Greenslips are also referred to as CTP Greenslips, green slips, green slip, greenslip insurance, CTP and CTP Insurance.
The greenslip covers injury to other people when your vehicle is involved in an accident. However, greenslip does not cover damage to property, other vehicles or to your vehicle, nor does the greenslip cover theft. Insurance for those occurrences is obtained through different policies, which you should consider taking out.
Here are nine things you need to know before you purchase your greenslip
• Seven insurers provide greenslips in NSW.
• Greenslip prices vary. You need to compare prices.
• You can compare prices by contacting each insurer or by using the greenslip price comparison service operated by the Motor Accident Authority, the Green Slip Calculator. The MAA's Green Slip Calculator is the only service which provides prices for each of the seven green slip insurers.
• Greenslips are the same, regardless of insurer, other than in respect of at fault driver cover, which is an extra feature provided by some insurers.
• Not all insurers offer an online service for quotes and purchase.
• All insurers provide call centre service. Some insurers have shop fronts.
• Seek analysis of your insurance on the basis of additional features and ease of purchase online, by phone and in person..
• Registration renewal and greenslips are available on a 6 or 12 month basis for many vehicle types.
• Insurers will notify the RTA electronically when you purchase your greenslip. You should allow about 60 minutes for the notification to go through to the RTA.
Green Slip in NSW is an insurance policy which provides for compensation for people killed or injured in a motor vehicle accident. When you purchase a greenslip you are participating in two schemes. The Third-party Insurance scheme, regulated by the Motor Accidents Compensation Act 1999 and the Lifetime Care and Support scheme, regulated by the Motor Accidents (Lifetime Care and Support) Act 2006.
