What is a Green Slip?
Greenslip is the term for Compulsory Third Party (CTP) Insurance in NSW. They might also be called CTP Greenslips, green slips, greenslip insurance, CTP and CTP Insurance.
Your greenslip is an insurance policy which covers you for people killed or injured in a motor vehicle accident involving your vehicle. A greenslip is a legal requirement for all motor vehicles registered in NSW, except trailers, which are covered by the towing vehicle.
Why Do I Need a Green Slip?
CTP greenslips are mandatory in NSW because even very good and experienced drivers are sometimes involved in road accidents.
CTP insurance provides protection from the burden of paying for somebody else’s injuries, especially if they are serious and lifelong. Many people do not have the financial resources to pay the considerable legal and health-related costs of treating somebody’s serious injuries from a vehicle accident.