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Insurance Savings: Cheapest Green Slip Prices in NSW, Australia

By Edited Nov 13, 2013 1 0

These car insurance policies are known as different names in different Countries, but in the State of New South Wales these are referred to as a green slip and you are required to have this for any registered vehicle. A greenslip is a type of insurance that provides compensation to victims of car accidents.
 
Since you are required to carry this insurance then you will want to find the cheapest green slip prices in NSW. In New South Wales there are numerous companies that sell this type of insurance. Here are some tips on helping you to find the cheapest green slip prices in New South Wales. These tips can also be used to help find discounted auto insurance in other Countries as well.


Greenslip Calculator

You can use the greenslip calculator that is online to get a pretty accurate estimation of how much your insurance policy will cost you. Whenever you use an insurance calculator is it imperative that you fill in all the information and as accurately as possible. If you skip questions on the greenslip calculator or are not truthful with your answers then you will not be able to get an accurate quote of what your policy will cost. When you go into actually buy your policy it will cost much more than what you estimated because your calculator estimation was entire inaccurate.


Greenslip Comparison

Although an online calculator give you a strong sense of how much you will have to pay for your insurance, each insurance provider will set their own rate. A greenslip comparison can be done by getting quotes from multiple insurance providers. Keep a spreadsheet or other list that shows how much each company is quoting you. Include any fees and then you can instantly look at you insurance comparison list and see which companies offer the cheapest green slip prices in NSW.


Greenslip Policy Cost Variations

There are numerous variations that need to be considered by the insurance company. Each factor will change the cost of your policy. For example it will depend on the type of vehicle you are getting the greenslip for. The cost will vary depending on if you need the policy for a car, motorcycle, or a small commercial delivery truck.

If you are getting a greenslip for your motorcycle then you can get the cheapest green slip prices in NSW if you have a smaller engine. If you have a small bike that you putt around on the greenslip costs will tend to be much less than if you have a motorcycle capable of extremely high speeds.

The year of the vehicle can also impact the final cost of the greenslip policy.


Impact Tax Credit

If you are business then you can get issued a greenslip that shows you are entitled to the Impact Tax Credit. If you are simply insuring your private vehicle then you will not be eligible for this tax credit. A greenslip policy for business vehicles can be more expensive then insuring a privately owned car; however the Impact Tax Credit can help to offset this additional cost for businesses.

A fleet discount is also offered by most insurance providers if you are a company that will be insuring multiple vehicles. To get the cheapest green slip prices in NSW for companies it is imperative that you let the insurance company know that you are requesting a fleet discount quote. If your business has a large fleet of vehicles and they know that you are shopping around for the best rates they will often undercut their competitors simply to get your business.

If you have an outdated Green slip then the cost to reinsure your vehicle may be a little higher than if you had kept the policy up-to-date without letting it lapse. Sometimes you may also be required to have a blue slip to prove to the insurance company that you can import the vehicle and it is roadworthy and safe.

The type of insurance policy that you carry and your personal car insurance history will also affect the costs of obtaining a new greenslip. You will need to provide the type of car insurance you have to the company providing the greenslip if you received your car insurance elsewhere. You may be able to save money on a green slip if you already carry the generally more expensive comprehensive car insurance. Third party property damage insurance may save you some money over the cost of a comprehensive policy, but you will have to pay more for the green slip.

Regardless of the type of automotive insurance you carry on your car, the insurance duration period is very important. If you have had the same insurance policy for a longer period of time it will cost you less to get a greenslip. The cheapest green slip prices in NSW will be available when you have had the same comprehensive car insurance policy for a period of 5 years or more.
 
If you constantly let your insurance lapse then you will end up paying more for the CPT policy. CTP policy is simple the official name for the green slip.


Coverage

It is important that you understand that you need to carry an insurance policy in addition to the greenslip. The greenslip only covers the passengers in your car, other cars that are involved in an accident with you, and pedestrians and cyclists. Your greenslip will not compensate you for any automotive damage incurred to your vehicle because that is what car insurance is for. The greenslip only covers a specific set criteria and your automotive insurance needs to be able to cover the rest in case you are involved in an accident. You need to ensure that there are no policy gaps between your insurance and green slip policy.

To get the cheapest green slip prices in NSW it is also very helpful if you have never had a claim on your car insurance policy. If you get discounts from your insurance provider for not having any claims then you will also be able to get your greenslip for less money.

Other factors that can affect your ability to get the cheapest green slip prices in NSW include your age, the age of the youngest drive in your home that will also be driving the car such as your child. If you have no demerit points and no accidents in the past year then you can get a better rate for your greenslip policy. If you or any member of your family will be driving the car and have held a license for less than 2 years it will cost you more.

For the best and cheapest green slip prices in NSW it helps to keep a clean driving record, shop for the best prices and don’t let your insurance lapse.


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