$29 million worth of CTP Green Slip refunds still unclaimed

Sydney Traffic
Sydney Traffic

CTP Green Slip refunds extended to 30 September

The NRMA is urging all NSW motorists to check their eligibility for a CTP Green Slip refund, with figures released in August showing 700,000 policyholders yet to claim $29 million in refunds.

In July the NSW Government revealed that 2.8 million policyholders have already claimed $156 million, with the deadline for claiming a refund extended one final time from 30 June to 30 September 2019. Following that, any unclaimed money will go towards reducing Green Slips, by lowering the motor accidents levy.

NRMA spokesperson Peter Khoury said: “We’re urging all motorists to take a few short minutes to get online or call the number, and get their refund if they are eligible. A one off cash injection into the bank account of up to $120 will go a long way to helping the family budget and it would be a shame for people to miss out.” 

Claiming a refund is simple and easy and can be done via Service NSW either online, over the phone or in store.

How to claim your Green Slip refund

1. Select the 'Claim online' button.
2. Log into or create your MyServiceNSW Account.
3. Follow the prompts to claim a CTP refund.
4. Enter your bank details, review and submit your claim.

Claim online

Top 10 Sydney suburbs for most unclaimed money

 Suburb Yet to claim value
 Liverpool $423,00 
 Campbelltown $311,000
 Greystanes $258,000
 Mount Druitt $237,000
 Blacktown $224,000 
 Camden $219,000 
 Cabramatta $216,000
 South Windsor $201,000
 Rouse Hill $195,000
 Edensor Park $191,000

Eligible motorists will be refunded part of their 2017 Green Slip under the NSW Government's new compulsory third-party insurance plan. Under a reformed CTP scheme the average price of a Green Slip will be reduced by more than $100.

If you were the registered owner of a private vehicle as at midnight 30 November 2017, you may be able to claim a CTP Green Slip refund for insurance policies bought or renewed before 1 December 2017.

CTP Green Slip prices were reduced for most classes of vehicles* from December 2017 when the new scheme started. So, if you purchase or renew your Green Slip before 1 December you may have paid pre-reform prices.

See the table of refunds estimates. These are based on average premiums by vehicle class and the month the Green Slip was purchased.

The refund will apply to the owner of the vehicle as at midnight 30 November and will be calculated on a pro-rata basis. That is, the closer you purchase a policy to 1 December, the greater your refund will be.

*Motorcycle owners will not receive a refund. Instead, injured motorcycle riders will get more benefits and their prices will remain similar to what they are now. See the question below on motorcycles.

Frequently asked questions

Refund amounts will be calculated on a pro rata basis, so when you purchased your Green Slip in the 12 months prior to the new scheme starting will determine the amount of your refund.
 
Those who purchase a Green Slip in the months closest to the start of the new scheme (1 December 2017) will get a greater refund because the greater part of their policy falls under the new scheme.
The refund is a direct result of the NSW Government's CTP Green Slip reforms. When the new scheme started on 1 December 2017, prices were reduced for most vehicle owners.
The refund will be the difference between the old scheme price and new scheme price calculated on a pro rata basis. Amounts will vary depending on when you purchased your last policy, the type of vehicle and where you are located.
 
The closer a Green Slip was purchased to 1 December 2017 the greater the refund will be.
 
See the table of refund estimates. These are based on average premiums by vehicle class and the month the Green Slip was purchased.
The owner of the vehicle as at midnight on 30 November 2017 will be eligible for the refund.

The refund will apply to private and commercial vehicles of all classes, except motorcycles.

Motorcycle owners will not receive a refund.  See the question on motorcycles for an explanation.
Yes. The residual value of the CTP Green Slip is generally factored into the sale price of the vehicle, so it is only fair that the new owner receives the refund. However, it is important that you complete the transfer of ownership with Roads and Maritime Services (RMS) at the first possible opportunity and no later than 30 November 2017.

The owner of the vehicle according to RMS records on 1 December 2017 will determine who receives the refund, so if you have not transferred the vehicle ownership into your name before that date then the refund will go to the previous owner.
Allow up to 10 working days for the refund to be credited to your account after you have submitted your claim.
The NSW Government through the State Insurance Regulatory Authority (SIRA) will recoup the refund money from CTP insurers.

This money is the difference between prices charged under the old scheme from 1 December 2016 and the new scheme starting 1 December 2017.
Green Slip prices will not come down for motorcycles under the new CTP scheme and therefore there is no refund for motorcycles.

This is because in 90% of accidents involving motorcycles, the rider is deemed to be at fault (often single vehicle accidents) and cannot claim against another policy. Under the current scheme, motorcycle riders receive little benefits.

Under the new scheme, while they won’t pay less, they will get more benefits (weekly income payments and medical costs) for up to 6 months, regardless of fault, and longer if not at fault and with more serious injuries. SIRA suggests motorcycle owners shop around to determine the best available price for their Green Slip.
All people who are entitled to a refund will be notified.

Most people who have a passenger vehicle can expect a refund. Amounts will vary depending on where the vehicle is located and other factors, such as when the Green Slip was purchased in the previous year.

Motorcycle owners will not receive a refund. See the questions on motorcycles for more information.
Businesses and taxis will be sent their refunds directly from January 2018.

Refunds for private vehicle owners will be delivered through Service NSW, with an advertising campaign commencing March 2018 to inform motorists of how to claim their refund.

You can prepare for a quicker and easier refund by signing up for a MyServiceNSW account now and linking it to Roads and Maritime Services. You will then only need to enter your bank details when your refund is available.

As the Government is recouping the extra money paid from insurance companies, there is no need to contact your insurer.
The NSW Government considered this method and decided to provide refunds directly to people instead of reducing policies. This is because people do not automatically renew their policy with the same insurer.
The insurance goes with the vehicle and is generally included in the sale price of the vehicle. The refund will be calculated based on what the previous owner paid and will be made available to the owner of the vehicle as at midnight on 30 November 2017.

The owner of the vehicle according to Roads and Maritime Services (RMS) records on 1 December 2017 will determine who receives the refund, so if you have not transferred the vehicle ownership with RMS before this date then the refund will go to the previous owner.
Setting a minimum refund amount of $10 reduces the administration costs for small refund amounts that may otherwise go unclaimed.

This will allow additional cost savings to NSW motorists with refunds under $10 contributing to a reduction in the Fund levy next year, which will further contribute to a reduction in Green Slip prices.

The Fund levy (previously known as the Medical Care and Injury Services levy) is a component of all Green Slips. It covers public hospital and ambulance services for anyone injured in a motor accident on NSW roads. It also funds the Lifetime Care and Support scheme, which pays lifetime treatment, rehabilitation and care for people who have been severely injured on NSW roads and the insurer’s administrative costs of running the CTP Green Slip scheme.

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