Green Slips could become more affordable for drivers from December 2017.
The NSW government recently proposed a new CTP Green Slip scheme.
Changes under the new scheme will address problems such as premium unaffordability, delays in payment of benefits to people injured on NSW roads, and reducing fraudulent and exaggerated claims that are driving up premiums.
Goulburn MP Pru Goward said motorists could shave about $120 off their Green Slip under the new scheme.
“Over the past decade, Green Slip prices have increased by 85 per cent, with the average Sydney motorist now paying $703, and country motorists paying $482. This is simply unfair and motorists deserve better,” she said.
“The changes will not only stop the ongoing increases in average premiums, they will stop insurer super profits and actually reduce the cost of Green Slips for NSW motorists. This will provide a significant household saving for families who often need to insure multiple vehicles every year.”
Minister for Finance, Services and Property Victor Dominello said the reforms fulfilled the government’s promise to deliver a fairer and more affordable scheme.
“Make no mistake – this is a big win for motorists. The new scheme will deliver fast access to benefits for those who are legitimately injured on our roads; it will reduce the exaggerated claims; it will deliver more of the premium dollar back to the most seriously injured; and it will deliver cheaper Green Slips,” he said.
A Bill was recently introduced and subject to Parliament’s approval, a new Green Slip scheme will likely commence in December 2017.
Visit www.sira.nsw.gov.au to find out more about how the new scheme will lower the cost of Green Slips.