GreenSlips
Green Slips are necessary to fully register a car in most areas of Australia. They prove that you carry Compulsory Third Party (CTP) insurance, which ensures that you're financially responsible in the event that you're in a wreck where you are at fault. In some cases, this insurance will also cover you if you're not at fault.
What it Does
If you're in a wreck and you're at fault and cause injury, the Green Slip means that you are covered for the injuries you cause and the consequences to your passengers and other involved parties. The coverage will make sure that your passengers, the other people on the road—including pedestrians, people on bicycles and so forth—can get the treatment they need to deal with the injuries sustained in the accident.
This type of insurance does not cover any damage you do to property or to other vehicles. You'll need liability coverage to add this layer of security to your insurance coverage and, without it, you could be facing a lot of money in claims filed against you if you end up causing a wreck.
Green Ship insurance has been changed over the years and it does vary a bit depending upon where you're located. It currently will cover the treatment that children may require due to having suffered in the accident. It doesn't matter who's at fault, in this case.
In some cases, the insurance will cover the costs of treatment for devastating injuries, including those that affect the brain and spine. This will continue for the rest of the affected individual's life.
There is also coverage available from these policies that involve accidents where no one was at fault. For example, a driver who suddenly suffers a seizure, a heart attack or other catastrophic illness while behind the wheel will have coverage, even though the accident really was the fault of no one. This also kicks in if the vehicle happens to fail in some way that could not have been predicted through inspection or other means.
If you do not have this coverage on your vehicle, it will not be considered fully registered. The coverage it does provide is effective in any region of Australia at any time of the day or night.
Costs of Insurance
You can find out the cost of a Green Slip by using the Motor Accident Authority's comparison service. This will give you an idea of how much the insurers in your area will charge for this type of coverage. The cost may vary depending upon where you're located.
Your driving and insurance history will also play into the cost you pay for your Green Slip coverage. If you have a particularly bad driving history, you may end up paying a bit more than someone with a good driving history and no accidents on their record. You'll be able to compare the rates offered by several different insurers to determine how much you'll be able to save by going with one or another.
If you're over the age of 30, you may also end up paying less for Green Slip coverage. Certain types of violations, drink driving, for instance, could drive your prices up considerably. You may also be able to get tax benefits that will make the coverage more affordable for you. The region you live in may offer more or fewer options than others, so be sure to take a look at what various insurers offer and to see where you could save money on this form of insurance. Without it, you simply cannot go out on the road and be legal.