Motorists can use the new Green Slip Price Check website to shop around for the best price under the new lower-cost green slip scheme.
Coming into effect on 1 December 2017, the new scheme will see the average price of green slips reduce to $543 for Sydney drivers and $414 for country motorists.
The average premium for Sydney taxi owners will fall from $8836 to $5007. For country taxis, the average cost will decrease from $5203 to $2923.
A new safety net will allow all injured road users to access benefits for loss of income and medical expenses for up to six months, with lump sum compensation retained for those with long-term injuries.
Premier Gladys Berejiklian said the new scheme would deliver much-needed savings.
“Without the government’s reforms, average premiums would have been $654 in 2018,” Ms Berejiklian said.