When you register for your CTP in New South Wales, it means you have registered for the green slip. It is one of the compulsory and most important steps that you have to take before you register your vehicle and start driving on the road.
Due to the fact, having a CTP covers the injured people in an accident, it not only lowers the financial burden on you but also covers you for any kind of loss as an at-fault driver. Though, not all of the CTP insurance providers cover that, rather it is done when you register for the compulsory third party insurance NSW from NRMA.
To obtain a CTP green slip in NSW, you have to register your vehicle for a third party insurance and in turn, you will get the following benefits:
- The insurance policy covers the injured person claims and will also cover and compensate whatever damage has been done to the pedestrians or other people during the accident. This mean, you don’t have to worry about any kind of claims and responsibilities after you have this CTP green slip.
- So, it is compulsory because you and any other person involved in the accident who is being injured will be taken care by the insurance provider.
- But it will not be giving you any coverage for the damages done to any physical property on the road vehicles.
Anyone can apply to get a green slips quote, and to know more about the policy. The pricing and the policy premium is calculated on the basis of the model of the car, the location where you will be driving your car. It also depends on the safety features that makes your car safe and secure for you and others as well. If any of these features are below average, you may expect higher pricing for your CTP insurance.
