From comprehensive insurance to third party fire and theft, there’s a wide range of options to choose from when it comes to car insurance. But one thing’s for certain - Compulsory Third Party coverage (CTP), also known as a Green Slip, is mandatory when registering a vehicle in New South Wales.
Still confused about what car insurance you need? Read on to find out more about insurance options in NSW.
Car insurance and the registration process
Before you slide behind the wheel in NSW, it’s important to check you have adequate car insurance. While fully comprehensive coverage isn’t for everyone, at a minimum you need to have a Green Slip or CTP insurance to register a vehicle in NSW.
If you cause a car accident, you are generally responsible for the damage you, or your car, causes. CTP insurance covers your liability for compensation payments for people injured or killed in a motor vehicle accident.
What is CTP Insurance?
CTP or a Green Slip is designed to protect third-parties involved in the car accident, including passengers, pedestrians, cyclists and drivers of other motor vehicles. CTP may cover the third party for:
- A portion of their pre-injury weekly income if they need time off work,
- Reasonable treatment or rehabilitation expenses,
- Commercial attendant care if they need a hand around the house while they’re on the mend.
If you’re not at fault and you’ve suffered serious injuries as a result of the accident, then you could be eligible for the Lifetime Care and Support Scheme.
While CTP offers coverage for third parties, it’s important to know that it doesn’t cover you for damage caused to vehicles or property. For these risks, you could consider Comprehensive car, Third-Party Fire and Theft or Third-party Property Only or similar insurance policies, depending on what damage you want to insure against.
Steps to renewing your registration
When it comes to registering your vehicle in NSW needing a Green Slip is mandatory. But depending on the circumstances you might also need to get a Pink or Blue Slip.
If you’re renewing your existing registration and you only need a Green Slip,for the average driver, CTP insurance is available in a six or 12 month policy to match the term of your registration, although there are different options available for dealer or fleet vehicles.
If you’re not quite sure which insurance provider to go with for your Green Slip, the NSW government has a Green Slip Check to help you compare quotes across different insurance providers.
Thankfully, the team at Youi have you covered with CTP insurance for NSW. Simply purchase your Green Slip over the phone or online and we’ll notify Transport for NSW within one hour so you can complete your car registration. Keep in mind though, some payment options increase this time frame. For example, if you choose to pay Youi by BillPay, it will be at least 2 days before Youi can notify Transport for NSW. We also offer the option to pay in person at Australia Post and via Post Billpay.
For light vehicles over five years old, you’ll also need to obtain an annual eSafety inspection report to ensure the vehicle is safe and road ready. This is also known as a Pink Slip. Your registration renewal papers will let you know if you’re due for a Pink Slip before your car can be registered again.
To get your Pink Slip, just drop your car into an Authorised Inspection Scheme (AIS) station. Bookings and inspection fees may apply. If your car passes, the inspector will pass the report directly on to Transport for NSW for you to renew your registration. If it fails, you have 14 days to complete the repairs and get it reassessed by the same AIS to avoid another inspection fee.
In some instances, you might need to get an Authorised Unregistered Vehicle Inspection Scheme (AUVIS) inspection, which was previously known as a blue slip. Inspectors must be accredited by Transport for NSW under the Authorised Inspection Scheme. Use this search tool to find one near you.
You’ll need to get an AUVIS inspection if your car:
- Registration has been expired for more than three months,
- Has been brought into NSW from another Australian State or Territory or another country,
- Has no number plate,
- Is a write-off that’s been approved for re-registration.
Once you’ve got your green, pink or blue slip, you can get on with renewing your registration or registering your vehicle from scratch. You can either register your car online or at a Transport for NSW service centre.
To register online you must meet the eligibility criteria, which means you’re not able to make changes to the following details:
- Term of registration,
- CTP class,
- Conditions,
- Area of operation,
- Customer details.
You’ll need to visit a service centre to register your car if:
- The vehicle has been unregistered for over three months,
- You ordered special number plates within the registration renewal period and you haven’t received them yet,
- The vehicle is conditionally registered and requires an inspection, or
- The vehicle is conditionally registered and requires a change to the operating conditions.
Online registration process
Registering your car couldn’t be easier with the online registration process. Simply:
- Check you meet the eligibility requirements.
- Select the button to renew online.
- Follow the prompts to renew your car registration.
- Save a copy of the receipt for your records.
Protect your car and your back pocket
A Green Slip is to protect third-parties injured in a car accident but it won’t protect you against the cost of repairs to their vehicles or property. For these risks, you could consider Comprehensive car, Third-Party Fire and Theft or Third-party Property Only or similar insurance policies, depending on what damage you want to insure against.
Insurance offerings differ across providers so it’s essential to read the PDS and TMD to make sure you’re getting the best option for your needs. Here are a few insurance options worth considering if you’re after a bit of extra protection.
Comprehensive Insurance
In most cases, comprehensive car insurance policies cover you for theft, fire, accidents, storms, floods and other natural disasters. Some insurance providers may also include additional features like free roadside assistance, towing, storage and hire car for insured events. You may also be able to add options to your comprehensive policy to better suit your needs with additional features like the ability to select your own repairer, covering motorhome or campervan contents or coverage for business items. Many of these items have limits, costs or conditions, so make sure you know what you are paying for.
Third Party Fire and Theft
As the name suggests, third party fire and theft policies generally cover you for fire and theft as well as damage that your car might cause. Some policies may also offer the option to add extra features to make your policy better suit your needs.
Third Party Property Only
Third party property usually offers the most basic coverage when it comes to car insurance and generally covers you for the damage you cause if you accidentally hit someone else’s car or property.
For all insurances, policy inclusions differ across providers, so be sure to check out their PDS and TMD for all the details.
A Green Slip is mandatory for all vehicles registered in NSW however many drivers also choose additional insurance coverage. Whether you go all out with comprehensive car insurance or pick from one of the other coverage options, it is worth knowing what your insurance covers.
If you’re keen to up the ante on your insurance but want a little more information, check out Youi’s car insurance offerings or have a look at our car insurance PDS and TMD to see if any of these products are right for you and exactly what you’re covered for with our different car insurance policies.
