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Green Slip Comparison - Compare Green Slips on the basis of features, discounts, online, phone and retail experience

Not only do you need to consider the cheapest greenslip, there are other factors you should consider when making your greenslip purchase.

You should consider any additional features on offer from the insurers, ease of and accessibility for purchase online, by phone or in person, terms and conditions and additional discounts.

The tables below allow you to compare these factors for each greenslip insurer.

At Fault Driver Cover

All greenslip insurers provide the statutory cover required under the Motor Accidents Compensation Act 1999 and the Motor Accidents (Lifetime Care and Support) Act 2006.

Five of the insurers also incorporate an additional feature, providing benefits for drivers where the driver is injured and at fault in an accident.

None of the insurers offer additional features other than the at fault driver cover.

At fault driver cover is a worthwhile feature because under the greenslip scheme the driver at fault in an accident is not covered to the same extent as other people, unless catastrophically injured.

At fault driver cover is limited by policy wording and exclusion and is also limited to specific injuries and the amounts set out in the insurers’ schedule of benefits.

The terms, exclusions and schedule of benefits vary, insurer to insurer.

The tables below offer an overview of each insurers’ position, the schedule of benefits and some notable exclusions.  More information on at fault driver cover is available on this site.

Before purchasing a greenslip you should refer to the insurers’ policy document to understand the full terms applying to the insurers at fault driver cover.

If there is more than one injury, insurers will only pay for the one providing the highest benefit. In the event of death, insurers may only pay the death benefit.

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Ease of Purchase Online

Of the seven greenslip insurers, three do not offer any online quotation or purchase facility.

Of the four insurers who do offer the opportunity to obtain a quote or purchase a greenslip online, the quality of the online experience is good. Few features differentiate the quality of the online experience.

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Ease of Purchase by Phone

Even by phone, access to insurers is varied. Phone availability ranges from 24 hours per day 7 days per week to business hours only.

Interestingly, the three insurers who offer no online access also offer the most restrictive call centre hours.

For just one insurer, a real person answers the phone initially. The other insurers use voice prompt systems with various levels of selection before you can speak to a real person.

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Ease of Purchase In Person

Some insurers operate their own branch network and others operate through agents of some form.

Access to purchase a greenslip in person can be very restrictive, depending on the insurance company and where you live.

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Terms & Conditions

No greenslip insurer provides a schedule of Terms & Conditions or a Product Disclosure Statement for CTP greenslips.

To be allowed to issue greenslips, all greenslip insurers must provide the statutory cover required under the Motor Accidents Compensation Act 1999 and the Motor Accidents (Lifetime Care and Support) Act 2006. Each greenslip insurers’ performance in this respect is monitored by the Motor Accident Authority.

Where insurers provide some form of at fault driver protection as part of the greenslip, those insurers do provide some form of policy document for the at fault driver cover.

Other than the terms for the at fault driver cover, the greenslip terms offered by all insurers are the same.

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Discounts

Greenslip prices are determined by each insurer, after consideration of many factors including location, vehicle and driver age, claims history and driving record. Insurers can only charge premiums on a basis which has been submitted to the MAA and which has not been rejected by the MAA. Therefore discounts for factors such as a good driving record and a lack of claims are already reflected in the greenslip price, provided the price being applied is the appropriate one for the vehicle and owner characteristics.

Some insurers purport to discount the greenslip price on the basis that other insurance products are placed with that insurer (product bundling).  There is no visibility or explanation of the basis of calculation of the discount for product bundling.

In fact, the reality is that discounting the greenslip price on the basis of product bundling is not permitted under paragraph 4.2.2 of the MAA Premiums Determination Guidelines.

Some insurers offer discounts on other types of insurance (such as comprehensive vehicle insurance) on the basis that a greenslip and other products are bundled with that insurer.

A summary of the discounts offered by each of the insurers on other insurance products is set out in the table below.  For more information on the discounts you should check the insurers website and speak to your insurer.

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RTA Notification Online

All insurers will notify the RTA electronically of the greenslip purchase.

Generally, subject to clearance of funds, notification will go through to the RTA within 30 to 60 minutes of an approved greenslip purchase.