Green slip prices to drop to under $600

Published 23rd June, 2017 in Transport

New CTP reforms will reduce green slips prices for NSW motorists from 1 July 2017.

motorists in Cooma NSW

After 1 July 2017, green slips will reduce to under $600 for Sydney motorists after a five per cent reduction from insurers.

Sydney passenger vehicle owners will see reductions of $180 on the average premium and country drivers will see a decrease of around $50. Taxis owners will also see a 40 per cent decrease on the average premium.

QBE is offering the best price in the market at $588, a $25 reduction on the current price.

Insurer price changes from 1 July 2017

InsurerPrices* available on the market today ($)Expected prices* as at 1 Jul 2017 ($)Today Prices versus 1 July 2017
$ change % change

AAMI

622

595

-$27

-4.3%

Allianz

623

611

-$12

-1.9%

CIC Allianz

673

663

-$10

-1.5%

GIO

606

590

-$16

-2.6%

NRMA

640

597

-$43

-6.7%

QBE

613

588

-$25

-4.1%

Average**

621

596

-$25

-3.9%

* Price is the best price offered for a new customer, private use Sydney passenger vehicles with youngest driver aged 30 to 54
** Average excludes CIC Allianz because they mainly deal with commercial vehicles

Minister for Finance, Services and Property Victor Dominello said green slip prices had risen by 80 per cent since 2008.

“Since the CTP fraud crackdown commenced in February, we’ve seen a noticeable decline in claims for soft tissue and minor injury and an increase in the number of claims being withdrawn,” Mr Dominello said.

“This behavioural change is already starting to have a positive impact on premiums.”

Compare green slip prices online 

Published 23rd June, 2017 in Transport