For most of you who own both a motor cycle and a motor vehicle, you may have noticed that greenslip prices are very similar for both. Now this had many other motor cyclists concerned, along with you we presume.
Because of the concerns raised, the MAA took measures in collaboration with the motor cycle council of NSW to follow up the reason for such greenslip prices of motor cycles.
The MAA came up with the reason that different classes of motor cycles were grouped together in one class. This meant that most motor cyclists were paying way more to obtain greenslips then they should.
In 2010 the MAA released an improved set of guidelines for insurers to follow while determining motor cycle greenslip premiums. This also saw new ranges of engine capacity being established. These include 225cc or less, 226cc to 725cc, 726cc to 1125cc, 1126cc to 1325cc and greater than 1325cc.
Now this isn’t the only factor determining greenslip prices for motorcycles. Insurers also look at different driver circumstances and experience. Therefore in order to save a few dollars it is wise to compare your CTP price before making your greenslip purchase
The MAA continues to support motor cyclist with the help of the NSW Motor cycle Council by making sure greenslip prices charged are reasonable and are within the prescribed guidelines.