CTP; Comprehensive Insurance

sauce2k on 06/01/2015 - 23:40

Hey guys,

Just received a letter from NRMA about renewing my Greenslip and its $873.90… Is this normal???? I'm 27 years old and never had an accident?

Is this just NRMA or it's just a standard rate across Aus? I own a 2009 Honda Accord.

They also mentioned in the letter that if I combine my insurance with them they will reduce my CTP premium.. 874 is a lot of money as I just bought my first ever car a few weeks ago I did not expect this.. Can someone please tell me if it's the standard price?

Thanks

Automotive

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Comments

  • User102430 on 06/01/2015 - 23:49

    Check this out, it will let you compare market offers for your specific case:

    http://prices.maa.nsw.gov.au/

    I saved around $300 last time, best site around.

    • sauce2k on 06/01/2015 - 23:51

      Cheers man. Just did..
      It seems like 875 is about right…

      How is CTP calculated anyway..:/

      • User102430 on 07/01/2015 - 08:13

        This is holy grail, a secret formula of all insurance companies.

        From my understanding, takes into consideration several factors, age, driving experience and history, car driven, annual mileage, etc.

        The difference is that math algorithms are tweaked sometimes to give preference towards certain users the company would like to see as their clients, hence the difference, I suspect, in my case. But if you're younger and less experienced driver, the reality may be harsh ;(

        • ProjectZero on 07/01/2015 - 09:01

          The main contributing factor is age… if you have time like i did when i was shopping around.

          Keep everything the same and just tweak the age… 28 y.o. onward is the sweet spot…

        • airzone on 07/01/2015 - 15:45

          @ProjectZero: I found that location was a huge factor too.. If I was to quote for my parent's address (in a country town), it was about 1/3 cheaper than my Sydney address.

        • ProjectZero on 07/01/2015 - 16:35

          @airzone: I was actually told that by a car insurance staff to do that… I will not name the company or anything but it was funny to hear them say it.

      • [Deactivated] on 08/08/2015 - 19:36

        Check out coles…

        I'm in the same situation, and that MMA NSW website gave me quotes around $800… but the Coles website (which is unlisted in that MMA NSW website for some reason) gave me around $500.

        WTF??

  • PJC on 07/01/2015 - 00:05

    Does your title suggest Compulsory Third Party and Comprehensive Insurance are the same? They are not. But with NRMA, if they assume your car is uninsured, the CTP renewal price virtually doubles.

    • sauce2k on 07/01/2015 - 00:18

      Yeh so I bought the car off my mate and at the time I don't think it's insured at the moment. But the current CTP and rego expires in Feb.

  • ProjectZero on 07/01/2015 - 08:59

    I'm 26 and my CTP cost me around $900… so i think thats normal… If i remember correctly, i punched in 28 and the price drops down dramatically to around $600 ish…

  • Annoying Source on 07/01/2015 - 11:23

    I'm 20 and mines only like $550 (nrma) I think, Its an older car tho (98 hyundai lantra). I bought it off an old guy and when the rego and green slip needed to be renewed a letter came, it said it was $550 and I couldn't find any place online cheaper as well so I just paid it.

    • ProjectZero on 07/01/2015 - 12:02

      Whoa, That's the price for 6 months on my 2012/2013 Civic hatch…

  • Baysew on 07/01/2015 - 12:10

    Is this just NRMA or it's just a standard rate across Aus?

    In Victoria, all CTP is handled by the TAC (Transport Accident Commission)

    So current registration (Nov 2014) looks like this:

    Registration Fee $270.40
    TAC Charge $443.00 (Includes $40.27 GST)
    Insurance Duty $44.30
    Total $757.70

    Age of driver or car doesn't come into it.

  • mini2 on 07/01/2015 - 12:21

    I just bought my first ever car a few weeks ago I did not expect this

    Never had insurance before? The lack of NCB isn't on your side plus NRMA (in most cases) cost more than others. Rego/insurance isn't cheap, if you're in Sydney that's a fixed $2k per year right there before you even drive it outta your driveway.

    • Annoying Source on 07/01/2015 - 12:44

      I live in Sydney and pay around $1300 for everything, that's the third party green slip (about $550), Rego (about $286) and third party insurance ($450) and I'm only 20, just gotta where to look and how to do things. Plus technically I could drive my car with only the green slip and Rego (about $700 to $800) but I think anyone who drive without at least third party insurance an idiot (I might edit this when I get home and find out the exact prices)

      • mini2 on 07/01/2015 - 13:58

        third party insurance ($450)

        I was suggesting full comp. These days you aren't insuring against your screwed ups but rather, people who rolls around without third party smashing into you, it's becoming rather common.

        • Annoying Source on 07/01/2015 - 14:02

          Fair enough but you don't need full comp to

          drive it outta your driveway.

          You only need the bare minimum which as I sated is about $700 to $800

      • [Deactivated] on 20/07/2015 - 15:19

        Who's your CTP with, and is it the same as your third party, is the CTP in your name? Just curious cos; Sydney and 24 here, cheapest CTP for me is about $859. Seems to be about the same for almost all friends around the same age.

  • frutter on 09/08/2015 - 23:14

    Not all CTPs are the same right? but then when i compare pds there isnt much differences at all in terms of coverage for specific injuries

  • robredo on 26/07/2016 - 22:29
    +1

    Guys, why does no one here talk about getting CTP Greenslip insurance from Budget Direct? Its underwritten by QBE.
    I just renewed my CTP for 6 months and it cost me $218.
    Any good driver with no active demerit points will be rewarded handsomely. Also, if you are over 30 your insurance premium is also heavily reduced- hence my low CTP cost.
    I'd be interested to hear back from you guys if this is helpful for you, i'd be surprised if it wasn't !

    • sauce2k on 27/07/2016 - 07:59

      Might give it a try next year

      • robredo on 31/07/2016 - 22:04

        Combine with Bingle Comprehensive Insurance and you're onto a winner!

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