CTP reforms: How to claim your green slip refund

MORE than four million CTP refunds are currently being paid out to eligible NSW motorists. Here’s how to get yours.

NSW motorists should check their eligibility for a CTP refund as the government has $300 million to return to eligible drivers following reforms to the scheme.

MORE than four million NSW motorists are eligible to pocket cash refunds of up to $125 after a major shake-up of the state’s expensive compulsory car insurance scheme.

The refunds are part of reforms, driven by Finance Minister Victor Dominello, which have reduced CTP premiums by up to $172 a year for regular motorists.

NSW motorists previously paid the highest compulsory third party (CTP) insurance in Australia with the average metropolitan premium around $710.

The new low-cost compulsory third party Green Slip scheme came into effect on December 1, with about $300 million expected to be returned to eligible motorists.

ARE YOU ELIGIBLE?

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.

Businesses should have already received their refunds in January and February

Motorcycle owners are not eligible for refunds as their CTP costs have not changed. Instead, injured motorcycle riders, particularly those at fault in the accident, will get more benefits under the new scheme

HOW TO CLAIM

Go to the Service NSW website to make your claim.

You can only apply for your refund from 7pm and 7am from Monday to Saturday, and all day on Sunday. There have been high volumes of claims so be patient as it has caused some technical delays.

You will need a MyServiceNSW account to apply for the refund. If you don’t have one, you can create an account here.

HOW MUCH WILL I GET?

The most you can claim is $125 and the least is $10, and each refund is subject to an administration fee. If the refund is less than $10 before or after the administration fee has been applied, then the vehicle is not eligible for a refund.

Refunds take up to 10 working days to process and will be directly deposited into your account, and in some special cases by cheque.

WHAT IF I DON’T CLAIM?

After September 1, your unclaimed refund will go towards administering the new motor accidents scheme which provides benefits for people injured in car accidents in NSW.

Originally published as CTP reforms: How to claim your green slip refund