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AUG
19

Greenslip Price Hikes - Press

2008
Posted in: All Categories, Insurance, Greenslips, Automotive

There has been much press in the last few days about increases in the cost of greenslips.  The focus has been on the fact that some insurers have reputedly included drivers under 30 in the high risk category, previously for drivers under 25.  The reported result is a significant increase in the cost of greenslips for drivers under 30.  Is this your experience?  Regardless of your age, comment below and tell us how the price of your greenslip has changed.  If we receive sufficient response we will publish the results.  Click on the link below and let us have your comments.  Tell us of your experience with the cost of your greenslip.  Is the cost of your greenslip increasing?  If so, by how much?

17 Comment(s) - Add a comment

1. Any increase in the number of people captured by this so-called "high-risk" category allows the insurers to charge higher premiums to more people. Who provides the defn for "high risk", the insurers or the MAA? And what is the MAA doing to control these increases, and why is there no communication to justify what appears to be a discriminatory increase for this age group? The MAA needs to communicate more, after all, it is a government service working for the general public but it remains quiet on contentious issues. We're not mushrooms. We deserve better.

Comment by Warren - Friday, 08 August 2008
2. My greenslip has increased by more than 100% on a "classic" car which is more than 40 years old. The car is driven about 3000 km per year and is slower than the just about every new car produced today. How can this be justified?

Comment by Robert McPherson - Thursday, 14 August 2008
3. Why is it ok to discriminate against younger drivers? I have to carry the increased risk of older people when it comes to health insurance, because it would be ageist to discriminate against them. But when it comes to the increased risk of younger drivers it is somehow ok to discriminate against them as a group. Double standards!

Comment by young driver - Saturday, 16 August 2008
4. Just received a quote for our commercial van. Last year it was $400, this year it is $708. We are just a small business, but the government thinks they can milk us. The only ones making any money out of this are the lawyers and the insurance companies.

Comment by Gary - Monday, 25 August 2008
5. Got my renewal notice from AAMI this week (who up until now was always the cheapest) and it was for $627. Last year it was $339. Now i\'m 42, drive a 1990 stationwagon and no penalties or accidents in 25 years of driving!!! so it\'s not just the younger drivers they\'re targetting. When i rang AAMI and queried the new price, they said that research had shown people who don\'t have other insurance are a higher risk and make more claims!!!! Now the only claim that can be made on CTP is third party personal injury and NOTHING for yourself, so when i said that people who don\'t have other insurance have to drive more carefully because any accident comes out of their backpocket not from the insurance company, she agreed, but thats the new ruling. I was told that if got other insurance that gave a full no-claims bonus, then my quote would drop to $390 (what you\'d expect it to be), but that NCB only comes with fully comprehensive insurance, so they are pushing us to spend from $1000 upto $1300 in total for insurance or $670 for the most basic!!! Anyway, i\'ve found out through this website that QBE do it for $390, so i\'ll go with them and wait to see what happens next year.

Comment by nigel - Tuesday, 26 August 2008
6. I had the same experience as Nigel. I am also with AAMI and queried why my CTP cost had doubled and was given the story that unless you had comprehensive insurance they could no longer offer a discount on the CTP. So why would I take out comprehensive insurance on an 18 year old car? It used to be that they would provide the discount if you had Third Party property insurance but no more. It seems that some "bright spark" government bureaucrat woke up one morning and thought about how he could further gouge the taxpaying public. Quite frankly I'm sick of it!!

Comment by Bob - Tuesday, 26 August 2008
7. I am 26 - last year I was happy with my 1st reduction now CIC Allianz wants $615 - QBE is cheapest at $584 and NRMA in exchange for a $2000 p.a. insurance policy will do $485.00 and if the insurance is with someone else then $548. I think that IAG should be shot - the government did not legislate this, insurance said based on their analysis it needs to be higher... There are over 6 million register cars in NSW - av. Green Slip = $590 X 6,000,000 = $3,540,000,000 per year, are we really making over 3.5 BILLION dollars in claims in NSW alone? not to mention they also invest this money..... Speaking of investment does anyone else find it strange the global stock markets are down 30% and now green slips go up around the same amount if not more -- They lot your Green Slip money in the Corporate Poker Machines.. hence the increase.

Comment by Jason - Wednesday, 27 August 2008
8. mate on 06 i paid $390 with ammi without any comprehenssive insurace ,07 i paid $293 with alianz. i had just car comprehenssive insurence. this year the cheapest is $546 nrma with just car comprehenssive insurence. this is crazy !! i am 26yo now. 8 years of driving with 60% no claim bonus.

Comment by ash - Thursday, 18 September 2008
9. CTP pricing is based on the claims experience of the insurers and monitored by the MAA as well. Insurance is about risk probability based on facts not fiction! With drivers under 30 being 4 times more like to cause an accident leaving passengers in their own vehicle and in other vehicles it is no wonder they pay more than those over 30. The age of the car and lack of air bags, ABS, traction control, etc, makes those cars more likely to cause more serious injuries. It is not about discriminating against young drivers, it is based on the risk factor with millions of dollars of payouts likely in accidents caused by young drivers, and those over 70 these days. Just watch the news each night! The MAA regulates the NSW CTP scheme, forcing insurers to make good drivers cross-subsidise those in high risk categories. Most insurers need to sell approx. 9 policies to >30s with newer cars to offset the risk of selling one greenslip to an

Comment by stan - Monday, 22 September 2008
10. The comments by Stan seem to have been cut short. It was not a system error. We have contacted Stan and will add his missing text if he sends it to us. (Stan has re-submitted his comment, in full. It is published as the next comment).

Comment by admin - Wednesday, 24 September 2008
11. CTP pricing is based on the claims experience of the insurers and monitored by the MAA as well. Insurance is about risk probability based on facts not fiction! With drivers under 30 being 4 times more likely to cause an accident leaving passengers in their own vehicle and in other vehicles seriously injured, it is no wonder they pay more than those over 30. It is not about discriminating against young drivers, it is based on the risk factor with millions of dollars of payouts likely in accidents caused by young drivers, and those over 70 yrs old,these days. Just watch the news each night! The MAA regulates the NSW CTP scheme, forcing insurers to make good drivers cross-subsidise those in high risk categories. Most insurers need to sell approx. 9 policies to >30s with newer cars to offset the risk of selling one greenslip to an under 25 year old. The age of the car is a risk factor which impacts price, that’s why cars over about 9 yrs old, increase greenslip prices by as much as 100%, due to lack of air bags, ABS, traction control, etc, which makes those cars more likely to cause more serious injuries to passengers. In around 40% of accidents, those injured are in the car driven by the at-fault driver and are friends/family, that’s why it is important to choose your insurer wisely. Serious injuries to a loved one is harrowing enough, without experiencing a poor customer service from your insurer. Choose a reputable insurer who has the extra driver at fault cover for no extra cost- it could be you that is seriously injured and the basic CTP product doesn’t cover the At Fault Driver.

Comment by stan - Monday, 29 September 2008
12. Stan, obviously you are being paid to write your comments by the MAA. Why should I as a safe driver pay more because of someone else\'s folly? That is unfair and immoral. When will the regulator address the complete inequity of the current system? Why should I suffer because YOU dont adequately calculate the risk of a younger more dangerous driver? This is spin that you have written and utter nonsense. The government profits heavily courtesy of GST with this rort and in troubled times should be very ashamed of itself. Price fixing is against the law and contrary to the reason the current policy was introduced in the 1st place.

Comment by fred - Friday, 24 October 2008
13. I am 52 year old pensioner. I have been driving for 30 years. I have never had an accident and I only use the car now for 2 trips a week. I live in the country- so giving up the car is impractical altogether. Last year it was $190 and this year its $290. This IS highway robbery. The whole idea of the green slips being out of government control was to bring the prices down! The reverse is true. When is someone going to contact the appropriate watchdog about price fixing? Currently there is no incentive for older safe drivers who\'ve had no history of accidents or with the police to pay this outrageous price. The price will drive many pensioners not to insure at all or to register their vehicles. This rort needs to be fixed forthwith.

Comment by fred - Friday, 24 October 2008
14. I am over 30 and my Greenslip has gone up over $60 from last year so I will be changing from AAMI to someone else. I haven't moved and drive my car less these days. I take the bus to work so why should my Greenslip go up this much??

Comment by Donna - Monday, 27 October 2008
15. My greenslip has gone from $268 last year to $482 this year. Allianz - please explain?

Comment by Norman - Tuesday, 28 October 2008
16. What a joke this is, im 28yrs old last year i paid $333.00 for a Greenslip. But because they have changed the age bracket to under 30 i now have to pay $621 thats nearly double of what i paid last year. Why do good honest drivers have to be hit hard for other peoples stupidity. With the financial crisis you'll think Insurance company would lower the prices of Greenslips, it also doesnt help when this stupid NSW goverment hikes the price of Greenslips by $10. How are people suppose to survive????

Comment by David - Thursday, 13 November 2008
17. I am writing on behalf of my 21 year old daughter,her CTP green slip has gone from $293.00 last year to $621.00 this year due in december.She has not lost any demerit points or had any accidents to date,all of a sudden she is a bad driver.Are all the young ones drag racers&hoons or are they being penalised because of the minority.Please lets give the good young adults a go,afterall they are our future.

Comment by Paul Flood - Friday, 14 November 2008
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