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
In setting premiums insurers consider the estimated claims cost for the year (the average claim cost), the estimated number of claims (claim frequency), and their own costs to administer the policies. 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 ACT’s CTP insurance scheme is a ‘community rated’ scheme, with all motorists for each vehicle class paying the same amount for CTP insurance regardless of their individual risk profile.
'Community rated' schemes provide equality and affordability, and reduce the cost of CTP for drivers with differing circumstances (such as young and older drivers):
- Individual circumstances, such as the age of the driver, the driving record, the age of their vehicle, and the vehicle’s location, do not vary the premiums payable by individuals.
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:
The levies that appear on your registration notice fund other services associated with road usage, including the Lifetime Care and Support (LTCS) Scheme and the CTP Regulator. The LTCS levy provides funds for the treatment and care of catastrophically injured persons from motor accidents. The CTP Regulator levy supports the regulator in performing its role to regulate, administer, oversee, review and reform the ACT CTP Scheme.
Rideshare premium information
For information on ridesharing, accreditation and licensing please visit the Access Canberra website (www.accesscanberra.act.gov.au). More information on CTP insurance arrangements for rideshare can be found in the following documents:
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 In setting premiums insurers consider the estimated claims cost for the year (the average claim cost), the estimated number of claims (claim frequency), and their own costs to administer the policies. 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.