Greenslip prices in 2011

Greenslip insurance is required by law in New South Wales. Greenslips are also known as compulsory third party or CTP insurance. Before you can register your vehicle, you must have a greenslip.

Greenslips cover injury to third parties in the event that your vehicle is involved in an accident. The coverage has also been extended to now include the driver at fault. Greenslip policies do not include damage to property, other vehicles or your vehicle. It also does provide coverage in the event of theft.

Greenslip insurers

Seven insurers currently provide greenslip insurance in New South Wales. They are AAMI, Allianz, CIC, GIO, NRMA, QBE and Zurich. NRMA is the dominant insurer with over one third of the market. These insurers are also now providing greenslip insurance for bikes.

Prices in 2011

Greenslip bike insurance premiums increased considerably during 2010. Some policies increased by as much as 90%. Greenslip insurance premiums for cars range from $250 to $300 for a 6 month period and from $500 to $600 for 12 months. Rates and terms can vary considerable between insurers so it often pays to shop around. Of the main insurers AAMI and NRMA are often the most competitive, offering some excellent deals.