Premiums in the ACT
For the latest changes to premiums for rideshare vehicles and associated CTP registration requirements, please see the attached media release of 15 February 2016 and the frequently asked questions.
CTP premiums are subject to Government regulation to ensure that the interests of the community are protected; that premiums are no higher than they need to be to properly compensate persons injured in motor vehicle accidents; and that the viability of the CTP scheme is maintained. However, CTP premiums are not Government fees or charges. They are paid in their entirety to a licensed insurer.
CTP premiums are based on past claims experience and insurance companies' projections of the likely number and cost of claims during the underwriting period. The premium charged also depends on the type of vehicle and whether it is used for private purposes or for business purposes where a GST input tax is claimable - please see Frequently Asked Question 16. Do GST credits apply to CTP?
The current CTP premiums applying in the ACT for all CTP classes are provided below for each available CTP insurer. Consumers should note that CTP insurers may offer incentives on their products. You will need to visit each insurer's webpage or contact the insurers directly to obtain information on these products.
The contact details for each of the insurers is as follows:
*From 1 May 2013, a $1.00 CTP Regulator Levy will be applied to all CTP Premiums in the ACT. Road Transport (General) CTP Regulator Levy Determination 2013 (No 1). The Levy is necessary to support the CTP Regulator in performing its role to regulate, administer, oversee, review and reform the ACT CTP Scheme.
Current CTP premiums in the ACT
Previous CTP premiums applicable in the ACT
Premiums applicable prior to 2 March 2009 can be found in Schedule 1 to the Roads Transport (Third-Party Insurance) Regulation 2000