Premier Gladys Berejiklian recently announced reforms to New South Wales’ compulsory third party car insurance scheme that will allow motorists to save as much as $172 a year.
Currently, motorists in New South Wales are required to purchase a CTP policy - also known as a Green Slip - when they renew their vehicle registration each year, providing cover against injury or death if they’re at fault for an accident on the road.
The NSW Premier promised that the revamped scheme will be available from December 1.
“The new scheme will deliver much needed savings. Without the Government’s reforms, average premiums would have been $654 in 2018,” said Berejiklian.
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Alongside the reforms to CTP pricing, Berejiklian also announced the arrival of a Green Slip Price Check website designed to give drivers an easy way to compare policies side by side.
“The overwhelming majority can expect to see a significant reduction on their next bill. However, it’s still important to shop around for the best price, and the best way to do that is by using the Green Slip Price Check website,” she said.
If you’ve already paid your Green Slip this year, the Premier said that those entitled to a refund would be notified, with refunds expected to be rolled out by Services NSW.
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The good news continues for Aussies looking to save on their comprehensive car insurance policy, with Mozo’s recently released Car Insurance Buyer’s Guide for 2017 revealing a staggering average difference of $1,087 between the most expensive and cheapest policies across Australia.
While Aussies might rub their hands together at the thought of saving close to a thousand dollars on their comprehensive car insurance policies, Mozo Director Kirsty Lamont said that the cheapest option isn’t always the best.
“If you aren’t careful about which policy you pick, there’s a good chance you could be either paying too much, or not getting the quality of cover you really need,” she said.
“It is about finding the sweet spot where you’re covering all the bases you need to be, while sticking to your budget.”
Aussie can make sure they’re comparing both a policy’s price and features using Mozo’s car insurance comparison tables.