Why Are CTP Greenslips So Expensive in NSW? - How To Bargain It?

Bigbabo on 19/06/2017 - 10:56
Last edited 19/06/2017 - 11:18 by 1 other user

Hi,
I am 24yo and turning 25 this year and I am on full license

My rego is due this week and I am looking to purchase a Greenslip

I am just wondering why it is so expensive as my car is Honda Accord Euro 2010 and I have never done any accident

I have done the CTP calculator as well and that is the lowest I got $890

The cost breaks down below

Insurance Premium $658.63
SIRA Levy (9% of premium) $59.28
Lifetime Care Levy (16.52% of premium) $108.81
GST (Applies only to insurance premium) $65.86
Total $892.57

My suburb is Western Sydney - Fairfield

Any advice for this? thanks

Automotive

Comments

  • boomramada on 19/06/2017 - 11:01

    Report dodgy claims?

  • JDM4LIFE on 19/06/2017 - 11:15
    +3

    I am 24yo and turning 25

    In the eyes of insurance companies that age is still deemed high risk. You will find it will go down once you actually turn 25 and then again when you turn 27.

    May be worth getting 6 months Rego+Green slip if you turn 25 within that 6 month period and then re-renewing at the lower rate @ 25.

    Run the calculator at both ages and weight the pros/cons.

    • Bigbabo on 19/06/2017 - 12:45

      thats a good advice. thanks

      • Euphemistic on 19/06/2017 - 21:00

        I'd be surprised if this works. The insurance company will have a sliding scale that decreases the risk as age increases.

        If you want to scam the system you need to buy a car that has just been registered by someone in the safest category (probably 50-60yo) then transfer it to you. They don't charge any extra once the car is registered. It could get expensive buying a new car every 11 months though.

  • Mrbean007 on 19/06/2017 - 11:16
    +2

    Lol same suburb same price have you lost any points mum had same issue $950 for a vp commodore
    Due to loosing a point $950 without loss of point $650
    My mazda was around $700
    Both past 40s

    • ItsMeAgro on 19/06/2017 - 13:11

      Maybe it is the suburb then. Does Fairfield have a lot of crazy drivers, compared to other suburbs you drive around/through?

      • John Kimble on 19/06/2017 - 15:12

        Yep,I reckon not far behind Yagoona/ Bankstown (just from personal experience, nothing to back this up though).

  • ItsMeAgro on 19/06/2017 - 11:19
    +4

    A couple of tips:

    • If you can manage to never, ever, ever speed and so get zero points on your licence, one of the CTP insurers gives you a much cheaper greenslip (few hundred dollars less).

    • Did you use the real greenslip site http://www.greenslips.nsw.gov.au/ ? There are several commercial ones that pretend to be the actual government one to fool you (like with etax).

    (Not sure why yours is a couple of hundred $ higher than mine. Maybe Accords get involved in more high-speed accidents than Corollas? Or because you're under 25? Or there are a lot of hoons with that combination of car and age, for some reason…?)

    • Bigbabo on 19/06/2017 - 12:47

      I have tried both 24 and 25. the cost is till the same. I used the site and still the same

    • ATTS on 20/06/2017 - 14:05

      you said

      "one of the CTP insurers gives you a much cheaper greenslip (few hundred dollars less)"

      just wondering which CTP insurer?

      when i use your link there is like only a $10 difference

      • ItsMeAgro on 20/06/2017 - 14:20

        when i use your link there is like only a $10 difference

        Difference to what?

        The full quote is:

        If you can manage to never, ever, ever speed and so get zero points on your licence, one of the CTP insurers gives you a much cheaper greenslip (few hundred dollars less).

        I think it was QBE or Zurich maybe? Not sure, but when all my points expired and I got back to zero, that year one of the greenslips was about $300 less than all the others.

        Others have reported the same thing.

        • ATTS on 21/06/2017 - 06:56

          difference between the price of companies offering CTP

        • ItsMeAgro on 21/06/2017 - 12:27

          @CBR250RR:

          Do you have zero points on your licence?

        • ATTS on 21/06/2017 - 13:58

          @ItsMeAgro:

          yes i do

        • ItsMeAgro on 21/06/2017 - 15:40

          @CBR250RR:

          There might be multiple providers offering discounts to safe drivers now. Are some of the other quotes a lot more? Are you over 30?

  • Ryanek on 19/06/2017 - 11:40
    +4

    It's all about the age mate.

  • Islund on 19/06/2017 - 11:42

    we have the community around Auburn to thank for this.

    thanks to dodgy accidents where whole families used to crash cars at intersections and then jump into cars claiming all sorts of injuries.

    the government of the day then got rid of Transcover and moved across to CTPs.

    and the dodginess just continues

  • TheBilly on 19/06/2017 - 13:07
    +3

    28 - I pay $1300. It never went down, it only went up year by year, despite no accidents. Other states have it much better than NSW. Its very simple, your paying that much due to restricted competition in that market space and also insurance company lobbyists ensuring the government of the day does not make any major changes to affect the CTP structure so it is not in their favour. When people say its going up because there is too many claims, that is bullshit. Nobody can statistically prove how many insurance claims were made against CTP. So the argument is false. Similarly CTP claims are settled privately, private/public company direct with the individual - once again can not be statistically identified.

    • Mrbean007 on 19/06/2017 - 13:32
      +1

      Lol my brother lives up the coast near gosford and his rego and greenslip put together is cheaper then just my greenslip maybe have to change addresses or make up one some where near the bush :)

      • TheBilly on 19/06/2017 - 13:33
        +1

        It also depends on type of car you drive as well. I drive a ute, and if I drove a sedan I reckon it would be around the $1,000-$1,100 mark. I'd hope.

        • Mrbean007 on 19/06/2017 - 13:36
          +2

          Ute/van will always be higher as they are classified as a commercial vehicle lol had a friend with a little mighty boy and he had to fork out extra as it was classified as a ute you kidding the thing was as small as a wheel borrow :)

  • GangGang on 19/06/2017 - 13:35

    My ctp has never gone down because of my age. Despite people saying it. Every year it slowly creeps up and I haven't lost points or paid a fine for 10 years.

    • ItsMeAgro on 19/06/2017 - 16:12

      Are you doing the http://www.greenslips.nsw.gov.au/ every year or just renewing with the same insurance company?

      Sticking with the same company is punished with a slightly higher fee every year for some reason. Switching every year usually saves me a hundred bucks or so.

      • GangGang on 19/06/2017 - 16:17

        The only reason i renew it with the same company is because it's the cheapest when comparing online with other insurers.

        Thanks for the link i will check it out.

        • John Kimble on 19/06/2017 - 16:22

          QBE and Allianz have always been the cheapest for me…dunno why.

  • Bonsaichop on 19/06/2017 - 14:00

    32, Import car (Nissan Cube), Shannons CTP, South of Sydney, $489.

    No disqualifications, last accident was ~5 years ago when I was rear ended on an off-ramp.

  • John Kimble on 19/06/2017 - 15:14
    +1

    For comparison, my CTP is always around the $600 mark. Male early thirties, lower north shore.

    If you are really interested, to isolate what is making your CTP high, just get quotes change one variable at a time, eg age, sex, car, address etc

    You can do this for a lot of insurance, not just CTP.

    Might take you a bit of time though.

    • ItsMeAgro on 19/06/2017 - 16:16

      Do you drive a corolla?

      I bet they account for the fact that certain make/models are more likely to cause a serious accident, too.

      E.g.: one of those silly oversized yank tank utes most fetch a higher premium than a mini cooper…

      • John Kimble on 19/06/2017 - 16:17

        No car at the moment, but had an Astra then a HRV until recently.

  • papachris on 19/06/2017 - 21:21
    +1

    Do you have comprehensive insurance? If not, the greenslip price will probably be significantly higher.

    With my old car last year (98 Lantra), I had let the comprehensive lapse due to the low car value. The greenslip quotes at http://www.greenslips.nsw.gov.au were outrageous, but if I had comprehensive insurance as well, the greenslip quotes reduced dramatically.

    So for the same money I basically got free comprehensive - if you view the glass as half full, that is…

  • lgacb08 on 22/06/2017 - 20:11

    Move to Vic, rego and tac (ctp equivalent) only $800 no matter you're a p plater or pensioner (actually pensioner got it cheaper)

  • pegaxs on 22/06/2017 - 20:43

    Another glitch you can use is to register in a parents name and you as a secondary nominated driver may help…

    Or if you have access to an address that is not in Sydney or major metro area, (family/friend that lives elsewhere in the state…) it drops off significantly. My Suzuki Swift is $305 in a regional area, but was going to cost almost triple that if I still lived in Sydney…

    • petiteaustralienne on 23/06/2017 - 15:50

      Registering the vehicle in a parents name won't help because the price is guided by the age of the youngest driver, not the age of the registered owner. It can help to do this with comprehensive/TPPD insurance, but not CTP.

      I work in the industry and the price is 100% down to your age and the car being over 5 years old. Your specific suburb within Sydney doesn't impact it. NSW has 5 geographical zones that impact CTP prices- metropolitan, outer metropolitan, Newcastle/Central Coast, Woollongong and Country. They're not allowed to charge different prices for different suburbs within those zones- so for example, the exact vehicle/driver would pay the same for CTP in Fairfield as if the address was in Vaucluse.

  • Architectonic on 26/06/2017 - 17:48

    Privatise a monopoly/oligopoly and the customer gets shafted…

Login or Join to leave a comment
Login Join