How to compare CTP and Green Slip prices in NSW, Queensland, SA and the ACT

You can choose your CTP insurer in four jurisdictions. In NSW, Green Slip prices for the same vehicle and driver vary between licensed insurers, so it is worth checking the State Insurance Regulatory Authority's Green Slip price check before you buy. In Queensland, South Australia and the ACT, you nominate a licensed CTP insurer when you pay rego, and the regulator publishes the premiums or the insurers you can choose from; price differences are usually small. In every case the injury benefits are set by the scheme's law, so the insurer you choose affects price and service, not the cover. In Victoria, WA, Tasmania and the NT there is nothing to compare: CTP is included in rego.

This guide sits in the renewal checklist section. Background on each scheme is in CTP insurance by state.

Where you can and cannot choose

NSW: comparing Green Slips

What changes the price

NSW Green Slip prices depend on factors such as the type and use of the vehicle, where it is garaged, the age of the owner or driver and the claims history, within rules set by SIRA. Insurers price within those rules, which is why the same vehicle can attract different prices from different insurers.

How to compare

1. Have your registration details ready: plate number and the vehicle's details.
2. Use SIRA's Green Slip price check to see prices from the licensed insurers for your vehicle.
3. Note the period: a Green Slip must cover the registration period you are paying for, which may be 6 or 12 months.
4. Buy the Green Slip from the insurer you choose, then renew rego through Service NSW. Insurers usually send the Green Slip electronically so it is linked to your rego.

Worked example (illustrative)

Price check results for a sedan in a Sydney suburb, 12 months:

Choosing Insurer 3 saves $630 - $545 = $85 for the same statutory cover. Over five years at similar differences, that is several hundred dollars for a few minutes' work. There is no difference in what an injured person receives.

Refunds

If you cancel the registration or the vehicle is written off, you may be able to get a refund for the unused part of the Green Slip under the NSW scheme rules. Check SIRA's website for how refunds work and whether conditions apply.

Queensland: choosing at rego time

Queensland CTP premiums are set by the licensed insurers within limits set by the Motor Accident Insurance Commission, and they vary by vehicle class and region. MAIC publishes the current premiums for each class and insurer, and the differences are usually small. When you renew rego through the Queensland Government, you can nominate a different CTP insurer for the next period.

Worked example (illustrative)

If two insurers' premiums for your vehicle class are $360.40 and $365.20 per year, choosing the lower one saves $4.80. In Queensland the decision is often made on other grounds, such as which insurer you would rather deal with if you are injured, or whether you hold other policies with them, since benefits are the same.

South Australia: comparing CTP insurers

Since 1 July 2019, South Australian motorists choose from licensed CTP insurers when they pay rego. The CTP Insurance Regulator publishes information on the insurers and their premiums. If you do not choose, an insurer is allocated or your existing one continues, depending on the rules at the time. Compare when the renewal arrives.

ACT: choosing under the MAI scheme

The ACT's Motor Accident Injuries scheme started on 1 February 2020 and lets drivers choose a licensed insurer when they register or renew. The regulator publishes the premiums. As in other states, benefits come from the scheme, not the insurer.

What CTP choice does not change

• The injury benefits available to anyone hurt by your vehicle.
• Your property damage cover, which comes from a separate car insurance policy.
• The legal requirement to keep CTP current.

Common mistakes

1. Letting a NSW Green Slip lapse, so rego cannot be renewed and the vehicle becomes unregistered and uninsured for injuries.
2. Assuming a cheaper Green Slip gives less cover. It does not.
3. Thinking CTP choice covers car damage. It never does; see CTP vs third party property.
4. Buying a Green Slip for 12 months while paying 6 months of rego, or the other way round, without checking how the insurer handles the period.

After CTP, compare your property cover with the renewal vs new quotes example and check whether switching insurer mid-term is worthwhile.

Frequently asked questions

Does my CTP insurer have to be the same as my car insurer?

No. CTP and private car insurance are separate. You can buy them from different insurers.

Can I change CTP insurer during the registration period?

Generally you choose at registration or renewal. Rules for changing mid-period differ by state; check the regulator.

Is the Green Slip price check run by the government?

Yes. It is provided by SIRA, the NSW regulator of the CTP scheme.

Why is my Green Slip more expensive than my neighbour's?

Price depends on vehicle type, use, garaging location, age and claims history, and each insurer prices differently within SIRA's rules.

Sources

• State Insurance Regulatory Authority — Green Slip price check and refunds
• Service NSW — NSW rego renewal
• Motor Accident Insurance Commission — Queensland CTP premiums by insurer
• Queensland Government — Queensland rego renewal
• South Australian Government — SA rego and CTP insurer choice
• Access Canberra — ACT rego and CTP insurer choice