Here are some things you need to know before you purchase a greenslip and register your vehicle:
- A greenslip is required to register a vehicle in New South Wales.
- A total of 6 insurers offer CTP greenslip insurance in New South Wales.
- Greenslip prices may vary significantly among insurers. This is why you should compare prices.
- The SIRA Greenslip calculator allows you to compare the prices of all 6 insurers and find the cheapest greenslip for your vehicle. This quoting service is only available for light vehicles under 4.5 tonne.
- All insurers provide the same basic greenslip cover for injuries sustained by third parties in a motor vehicle accident. The key difference amongst greenslips from these 6 insurers is the added feature called at-fault-driver cover which is provided by some – not all – insurers.
- Terms and Conditions of the driver-at-fault cover vary from insurer to insurer.
- Normally, you may procure a 6 or 12-month greenslip for your light vehicle.
- You have until the 21st day from the vehicle’s registration due date to purchase a 6-month greenslip. A vehicle with a 6-month greenslip needs to be registered for 6 months. On the 22nd day past the registration due date, you can only purchase a 12-month greenslip.
- You have until 90 days from the vehicle’s registration due date to purchase a 12-month greenslip. A vehicle with a 12-month greenslip needs to be registered for a full year.
- If a vehicle is unregistered for over 90 days, both a blue slip and a greenslip are required to register the vehicle.
- If a vehicle is being transferred from another state, both a blue slip and a greenslip are required to register the vehicle.
- A greenslip does not cover damage to property, your vehicle, or other vehicles.
- When purchasing a greenslip, it is important to provide the correct information. If your Greenslip Premium is calculated on the basis of incorrect information you provide, resulting in you paying a lower premium than you should, your CTP Greenslip Insurer may ask you to pay for the difference. Failure to do so may result in the cancellation of your vehicle registration. (Source: MAA Website)
- If you are renewing your vehicle’s registration, you may register the vehicle online on the RMS website instantly after your greenslip purchase has been completed, provided you have already secured a pink slip, if required by the RMS.
- The total premium of your greenslip includes 3 items: base premium, GST, and MCIS Levies.
Greenslip Processing Update:
From 7 November 2015, changes were instituted to streamline the processing of CTP greenslips in New South Wales and ultimately improve customer experience in processing their vehicle registrations.
To purchase a CTP Green Slip, you will need to provide two pieces of information – one to identify you, and the other to identify your vehicle. These details can easily be located on the registration papers.
Information that can identify you as registered owner of the vehicle:
- Billing Number
- NSW driver or licence number
- RMS customer number
- NSW photo card number
Information that can identify the vehicle:
- plate number
- chassis number
- engine number
Anyone wishing to purchase a greenslip must provide one of each set of information – 1 to identify the owner and 1 to identify the vehicle. You can still get quotes without these information on hard but you will not be able to complete a greenslip purchase.
This new system ensures that customers are charged the correct premium. When you provide the insurer these 2 sets of information, data regarding you and your vehicle that are related to the greenslip purchase are passed on from the RMS to the insurer such as: date of birth of the registered operator, garaging post code and suburb, vehicle year, make, model, and shape.
Insurers may need to collect additional information to complete a quote as criteria vary from insurer to insurer. For example, one insurer may ask whether the vehicle has other insurances such as Third Party Property Damage or Comprehensive Insurance, while another insurer may ask about the demerit point history of the registered operator.
If, upon providing your billing number, you find that some information regarding your vehicle’s registration is not accurate or current, you will need to first update your records with the RMS prior to securing a greenslip. In certain instances there may be price differences which could be favourable or unfavourable to you. For example, in general, country post codes have lower premiums than Metro Sydney post codes. If you have moved from the Metro to the Country area, it is in your best interest to update your records prior to purchasing a new greenslip and renewing your vehicle’s registration.