Greenslips – Everything you need to Know about CTP in NSW

What your greenslip does and what it doesn’t, how to claim, where to claim and much more such things strike your mind when you are about to purchase a greenslip. You need to be very sure before you purchase greenslips.

Here we are to explain everything about the greenslips in Australia. We will answer all your questions to the point.

What are GreenSlips?

Greenslip is fundamentally an insurance policy, it covers people. This policy compensates the third party for bodily injuries or deaths that occurred in an accident of motor vehicles.
Motor Vehicle accident here includes everything from cyclists, motorcyclists, pedestrians or any other such vehicles present on road.

If you own a vehicle at NSW Australia then like general motor insurance Greenslip is mandatory and important legal requirement

This insurance policy comes under third party insurance scheme and covers every cost after a motor vehicle accident. There are several other terms that may be used instead of green slips. They are CTP and CTP insurance, green slip insurance or CTP green slips.

Four Good Reasons Why You need Greenslips.

  1. Road accidents are very common in Australia and sometimes even the best drivers make mistakes.
  2. You won’t be affected financially after the accident as greenslip will cover injured financially.
  3. Greenslip is very helpful for people (third party) involved in a road accident. It covers all the serious and long-lasting injuries.
  4. After a serious crash, people generally get stressed. Greenslip gives you peace of mind as you get away with the burden of paying for third-party injuries.

What happens when I purchase this Policy

As soon as you purchase this insurance policy, you start getting the benefits of two schemes. Third party insurance scheme and Lifetime care and support scheme. This insurance scheme comes under Motor Accidents compensation act 1999 and Motor Accident Act 2006.
This means this policy will compensate people killed on injured in an accident. This policy does not cover your car or any other property.

 

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