What your CTP Greenslip provides
What exactly is a CTP Greenslip?
A greenslip is a compulsory third party insurance policy in NSW. It is an insurance policy that provides accident protection for those involved in an incident. It provides protection/compensation for those who have been injured or killed in a motor vehicle accident.
What does it cover?
It only covers those who have been injured or killed as a result of a motor accident. This includes drivers, riders, pedestrians, cyclists, passengers and the driver of a third party vehicle. It does not cover any damage to your vehicle or the third parties vehicle. It will in some instances cover the driver at fault however this must be due to a terrible injury. The insurance protection pertaining to drivers at fault is twofold. Firstly, the CTP scheme is structured to offer comprehensive protection and benefits to at fault drivers in the case of severe injuries. Secondly, token protection can also be offered by individual insurers to provide minimal benefits to the driver at fault and is injured in a motor vehicle accident. We recommend that you be cautious around the protection offered by insurers for at fault drivers.
Can I drive to another state?
Yes, whilst the vehicle is registered in NSW, cover is still provided should you travel to another state.
Who regulates Greenslips in NSW?
Up until recently the MAA (Motor Accidents Authority) was in charge of regulation surrounding CTP. As of September 1st this responsibility has been transferred to the newly created State Insurance Regulatory Authority (SIRA). Follow this link for more information, http://valuegreenslips.com.au/articles/state-insurance-regulatory-authority.html
Where does the money from my greenslip go?
The premium from your CTP goes towards funding the SIRA compensation system, administered by authorised insurers. The funds generated from CTP greenslips go toward compensating those who have had to make claims due to injury or death. SIRA itself is funded partly by CTP premiums.
What does www.valuegreenslips.com.au provide?
Here at VGS we offer a wide variety of cheap greenslips to all types of vehicles in NSW. Using our greenslip calculator on our homepage, we can provide you with a cheap and reliable greenslip within minutes. We also offer safe driver discounts for those who have not lost any points off their license."