CTP Greenslip (Fleet Policy)
In order to register a motor vehicle in New South Wales or Queensland you need to have a current Compulsory Third Party (CTP) Green Slip.
Your Green Slip provides for compensation to third parties who may be injured or killed in an accident where you vehicle is at fault. Third parties include; pedestrians, passengers, cyclists, motorcyclists and drivers of other vehicles. Note: It is possible to purchase CTP Greenslips that cover at-fault drivers however this is not included with all policies.
If you are caught driving a motor vehicle without a current Compulsory Third Party Insurance policy you could receive a hefty fine and may have demerit points awarded against you.
When purchasing a registered vehicle, the existing CTP insurance is automatically transferred to you when you complete the registration transfer paperwork. You are not required to do anything further until the registration is due for renewal.
Likewise, when you sell a registered vehicle your current CTP Insurance Policy is transferred to the new vehicle owner.
Who needs a CTP (Fleet Policy) Insurance?
If your organisation registers more than 10 motor vehicles you may be eligible to take out a fleet policy that provides you with online tracking and purchasing of your CTP Green Slips, and discounted rates.
Note: CTP (Green Slip) Insurance is not covered under any Public Liability Policy you may hold.
It is best to take out a CTP policy with at fault driver protection, check with your broker or insurer that your current policy includes this cover.
You are not required to take out a Compulsory Third Party Insurance policy for a trailer. Trailers are automatically covered under the Green Slip of the towing vehicle.