Vehicle classification is one of the important factors used by insurers to determine CTP greenslip prices.
Insurers are required to set CTP green slip prices on the basis of guidelines issued by State Insurance Regulatory Authority (SIRA). Those guidelines are issued each year and are referred to as the Premiums Determination Guidelines (PDGs). The PDGs have been included in Motor Accident Guidelines 2017. The PDGs set out vehicle classifications and geographic classifications which must be applied by the insurers. The classifications are the same for all insurers.
A simplified version of the main vehicle classifications from the Schedule of Premium Relativities is set out in the table below.
Passenger vehicles are generally Class 1. There is no differentiation within Class 1 on the basis of performance or engine capacity. A small four cylinder sedan is treated in the same way as a high performance sports car and a passenger carrying four wheel drive.
Motorbikes are Class 10. There are five sub classifications within Class 10, differentiating motorbikes on the basis of engine capacity. Other than engine capacity, there is no further differentiation within Class 10, ignoring factors such as motorbike style, use and pillion capacity.
|1||Motor Car||Motor car, station wagon and 4WD used for movement of passengers, with 9 or less seats (including the driver).|
Excludes 4WD vehicles designed for the movement of goods.
|3||Goods Vehicle||Goods carrying vehicle constructed primarily for the movement of goods. Classified on the basis of Gross Vehicle Mass (GVM). This includes utes, dual cab utes and vans.|
|3 (c)||GVM </= 4.5 tonnes|
|3 (d)||GVM > 4.5 to 16 tonnes|
| 3 (e)||GVM > 16 tonnes|
|5||Primary Producer's Vehicle||Any primary producers vehicle, not in Class 1 (except eligible station wagons and 4WD passenger vehicles) and which is not a motorbike or item of farm machinery (Class 18).|
|6||Bus||Bus with seating for 10 or more adults (including the driver).|
|6 (a)||Used for commercial purposes with seating for more than 16 adults (including the driver).|
|6 (b)||Used for commercial purposes with seating for 10 to 16 adults (including the driver).|
|7||Taxi||Motor car for which payment is received and which stands in the street for hire.|
|8|| Private Hire car||Motor car for which payment is received and which does not stand in the street for hire.|
|10||Motorbikes||Less than 4 wheels. Classified on the basis of engine capacity. |
|10 (d)||</= 225 cc and electric motorbikes.|
|10 (e)||226 - 725 cc|
|10 (f)|| 726 - 1125 cc|
|10 (g)|| 1126 - 1325 cc|
|10 (h)|| > 1325 cc|
|18||Miscellaneous|| Miscellaneous vehicles as set out below.|
|18 (a)||Miscellaneous machinery (not used as farm equipment). Includes tractors, excavators, fork lifts, earth moving equipment, road making equipment and other self propelled vehicles.|
|18 (b)||Farm machinery (used solely for agricultural or farming purposes).|
|18 (c)||Self propelled wheel chairs capable of more than 10km/hr.|