Green Slip premiums to reduce by $120

Save on Green Slips: Parramatta MP Geoff Lee and Finance MInister Victor Dominello announced the news during a visit to the ServiceNSW centre in Parramatta last week.

Save on Green Slips: Parramatta MP Geoff Lee and Finance MInister Victor Dominello announced the news during a visit to the ServiceNSW centre in Parramatta last week.

Parramatta MP Geoff Lee has great news for motorists.

They will soon save around $120 on their Green Slips, when a new scheme comes into effect in December.

Finance MInister Victor Dominello announced the news during a visit to at the ServiceNSW centre in Parramatta last week.

“A review last year found NSW Green Slips ranked one of the least affordable in the country, having risen by 85 per cent over the last 10 years,” Mr Lee said.

“Currently, just 45 cents in every Green Slip dollar goes to injured road users. The remainder goes towards costs such as legal fees, insurer profits and medical fees.

The 2016 review found people injured on NSW roads waited on average 3-5 years for a substantial payment. It also found fraud and exaggerated claims added up to $75 to the cost of a Green Slip.

The new scheme is expected to not just lower the cost of premiums but also reduce insurer super profits, cut delays in the payment of benefits, and target fraudulent and exaggerated claims.

  • For more information about the new scheme, go to sira.nsw.gov.au.
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