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NSW CTP Insurance premiums continues to be a bad joke

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gtc:
"Insurers have threatened to pull out of CTP insurance if the government does not accept their proposal."

I say, let them go ahead and pull out so that the NSW Government will be forced to actually do something at long last about this out of control mess.

THE cost of compulsory third party car insurance will rise by $50 because of the scheme's rising costs, says the NSW Finance Minister, Greg Pearce.

The new cost represents a 10 per cent increase on the green slip price of about $500.

Insurers have threatened to pull out of CTP insurance if the government does not accept their proposal.

''The reality is that administration costs, the legal costs, the dispute costs are running away in this scheme, and that's why they've got to increase the premiums,'' Mr Pearce said.
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He said that while the government was reviewing the scheme to contain costs, he was powerless to reject the proposal.

''The trouble is that the insurers have already put in the claim and the premiums will actually go up by an average of $50 before we can do anything,'' he said.

Mr Pearce said that to stop future price rises the government may consider measures including amending the law to limit damages from car accidents.

Motorists in NSW pay up to $260 more for CTP insurance than those in some other states, Mr Pearce said.

''What we need is a scheme that compensates the injured and keeps the cost of premiums low,'' he said.

''The current scheme is inefficient - less than 50¢ of every dollar paid in premiums actually goes to those who are injured.

''I have asked the NSW Motor Accidents Authority to look at issues such as insurer and legal costs and CTP rates with the view to creating a fairer scheme.''


http://smh.drive.com.au/motorists-face-50-rise-in-cost-of-green-slips-20130121-2d38t.html

MADLT1:
mine was $420 last year to 615 this year,what a joke

gtc:
My motorcycle CTP is now $990 !!!

sirfixalot:
I have mine here today $788 with NRMA every year I ring them up multi -policy discount, tell them car may sit in garage for a month at a time with out turning a wheel, only gets driven on Sundays usually comes down to about $300

Steeler:
I use this website each year when my renewal comes  http://greenslip.com/
some big differences in quotes  :thumb:

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