When a greenslip renewal arrives in the post, a rush factor kicks in to find the cheapest greenslip renewal price. The greenslip renewal sent by your current greenslip insurer may not be the cheapest greenslip price in the market. The fact is that Greenslip prices do change due to many factors.
Many a time, greenslip insurers change their risk profiles or has a less market capturing interest. Greenslip price revision takes into account a number of factors. The vehicles age, age of the youngest driver, license demerit points, driving history are some factors. Greenslip insurers rely on research tools, to gain market risk intelligence, and use them to determine greenslip price.
CTP greenslips validity expires on the same day as your registration expiry date. Greenslip is one of the compulsory requirements to recommence your vehicle registration. Without a greenslip, a vehicle can’t be registered. A paid greenslip links to a vehicle for registration with Roads and Maritime Services (RMS). Upon vehicle registration, the linked CTP greenslip activates as the compulsory third party insurance.
Only registered and compulsory third party insured vehicles can be driven on the roads. Driving unregistered vehicle is an offence in NSW and a fine of $607 is payable. Driving uninsured vehicle is also an offence in NSW and a fine of $530 is payable. The courts can impose a maximum fine of $2,200 for driving an unregistered vehicle. The courts can also impose a maximum fine of $5,500 for driving an uninsured vehicle. Compulsory Third Party Greenslip Insurance must not be confused with Third Party Property Insurance.
We recommend that the greenslip quotes should be taken prior to the registration due date. A greenslip quote can be easily obtained using the greenslip price check calculator. The greenslip price check calculator gives greenslip quotes for general vehicles such as cars, utes, vans and motor cycles.