Calculate Insurance Premiums with a Calculator - Australia Car Insurance
What is a CTP Calculator?
Greenslip is denoted as the generic car insurance in Australia. In legal terms, this is called the Compulsory Third Party (CTP) Insurance. For all vehicle owners, this insurance is a requirement before registration of any vehicle is allowed. With this said, each region in Australia has their own mandate in imposing this law but without deviating from the official goal of the rule that insurers people involve in an accident.
The payment for the generic car insurance is determined by a number of requirements that includes vehicle and driver information. As for the public's convenience, a CTP calculator is made available by the Government which in turn is utilized by insurance companies and brokers.
It is customary that every insurance company and their respective brokers have their own calculator but it the prices produced by this quote generators should conform with what Government agencies are presenting. As consumers, this information should be clear that prices of this basic vehicle insurance are dictated by both the insurance company and with the approval of the governing agency.
Steps in Using the Greenslip Calculator
Step 1: Get a Price Quote
For this step, vehicle information is the utmost information needed by the website. It starts with what type of car insurance you need and these are:
- Standard CTP insurance for Renewals
- For a Brand New Car
- Blueslips (for either > 3 months overdue registration or interstate transfer)
Choosing between a one year or 6 months duration of the car insurance is also available which will incur a lesser payment for 6 months insurance. Another fact to consider is whether the vehicle is either use for business or personal use. The business used vehicle will present a much higher insurance price compared with the personal use for the same type of vehicle. Motorcycle insurance also pose the same approach when it comes to acquiring on.
After supplying the information needed in this first step, pressing the 'get quote' button is next. This in turn will lead to step 2.
Step 2: Vehicle & Owner Details
As for this next step, the same process goes along. Vehicle and owner information are needed as per required by the CTP calculator. If you are having a difficult time supplying this information, what you need to prepare is to have your rego papers ready because it holds all the information needed by the calculator.
Notable: To generate the correct and cheapest price results, the information given in the use of this calculator should be accurate and true. In addition, the driver points should be complete as this is one of the main attribute to consider a price increase for the insurance premuim. To have the cheapest possible price, a driver should have all his/her points based on a demerit check done by any broker or insurance agency. If any points are loss for certain time frame then that would result in a higher price.
Step 3: Pay for your Vehicle Insurance
After considering all the information and insurance price, paying for the insurance is the last and final step. Online payment avenues are available using either a debit or credit card. For Value Greenslips, they use MasterCard, Visa, or Diners. In addition, they do not have cash payments available.
Notable: After payment, a customer service representative will get in touch with the customer to verify the information given and the payment as well. If all information given are true then this last step would go smoothly without delay.
The Battle of the 7 Armies
In New South Wales Australia, the business of Green Slip sales is scattered among seven insurance companies. The business is quite fierce based on prices offered and the level of marketing done by these companies and their agents. Customers often have a hard time deciding on what works best for their needs. There is the concept of prices and why they are different across these 7 insurance companies and the additional benefits that each policy holds. The additional benefit that everybody is looking for would probably the at-fault driver cover. This is not part of the standard CTP insurance and thus people are looking for this. This cover includes the driver at-fault from the claims done after an accident.
The following are the current and official insurers for Compulsory Third Party insurance. These insurers are regulated by the Motor Accidents Authority in New South Wales.
- CIC Allianz
In other regions of Australia, the Compulsory Third Party insurance is being supplied by the Government. This is probably because of the population in a region and the possible investments by insurance companies are not present in that part in Australia. If you are in Australia, and in search for some insurance company to handle you car insurance it would be best to call your local government agency to get a hold of this information. For residents of New South Wales, you can use this information website for everything and anything about the Compulsory Third Party Insurance.
After buying the car insurance in New South Wales, registration of the vehicle can be done through the RTA website after 30 minutes to 1 hour. Customers will be advised by email with regards to their registration status with the RTA (Roads and Transportation Authority.
As for other regions in Australia, their have their own registration procedures most of it are done personally in Government offices.
7 CTP Insurers in New South Wales
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