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CTP up $52

By johnboy 16 July 2012 47

It turns out the ACT has a CTP regulator called Megan Smithies.

She has today announced that Compulsory Third Party Insurance from 1 September will be going up:

The ACT CTP regulator, Megan Smithies, tòday announced that compulsory third party (CTP) insurance premiums charged by NRi\/IA Insurance for most ACT motor vehicles will increase by 10 per cent with effect from 1 September 2012.

“The new premium for a family car will be $578.70, an increase of $52.10,” Ms Smithies said.

Approval of new premiums follows an extensive actuarial review process. Under the CTP legislation, licensed insurers are required to charge premiums that will fully fund their present and future liabilities under the legislation to people injured in road crashes but which are not excessive.

“Based on independent actuarial advice, i am satisfied that new premiums are soundly based and are not excessive,” Smithíes conciuded.

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CTP up $52
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davo101 9:17 am 19 Jul 12

Zeital said :

I was saying that I am sure my ‘comprehensive’ car insurance is covering everything the CTP meant to plus a bit more. I’m not raging i am making a point that as someone in there early 20’s who is trying to make a living of a traineeship wage it is hard for me to save that kind of money untill i get a perm job with good pay. i’m not expecting thing to stay the same price for the rest of my life I just don’t understand why i have to pay for something twice.

From the FAQ you couldn’t be bothered reading:

I have comprehensive motor vehicle insurance. Why do I need CTP insurance?

Comprehensive motor vehicle insurance only covers you for property damage. It does not cover you against personal injury caused to another person in a motor accident.

Zeital 8:54 am 19 Jul 12

NoImRight said :

Zeital said :

If it wasn’t hard enough to afford to pay for insurance that i get off another provider (which costs a shit ton because i am just under the 25yr slog) + the $830 rego i just payed for a year which by the sounds is now going to be aorund $880 ea yr?

I still don’t see why i have to pay CTP insurance when i can easily prove i am fully covered by someone else….. i understand for people who can be shitted to get insured but if i’m already paying for it why do i need to pay it again in my rego?

Maybe look at what each type of insurance actually covers first? Or just go straight to outrage that prices fro stuff we want isnt fixed for life. Your choice.

I was saying that I am sure my ‘comprehensive’ car insurance is covering everything the CTP meant to plus a bit more. I’m not raging i am making a point that as someone in there early 20’s who is trying to make a living of a traineeship wage it is hard for me to save that kind of money untill i get a perm job with good pay. i’m not expecting thing to stay the same price for the rest of my life I just don’t understand why i have to pay for something twice.

NoImRight 1:04 pm 18 Jul 12

Zeital said :

If it wasn’t hard enough to afford to pay for insurance that i get off another provider (which costs a shit ton because i am just under the 25yr slog) + the $830 rego i just payed for a year which by the sounds is now going to be aorund $880 ea yr?

I still don’t see why i have to pay CTP insurance when i can easily prove i am fully covered by someone else….. i understand for people who can be shitted to get insured but if i’m already paying for it why do i need to pay it again in my rego?

Maybe look at what each type of insurance actually covers first? Or just go straight to outrage that prices fro stuff we want isnt fixed for life. Your choice.

FioBla 12:20 pm 18 Jul 12

Zeital said :

The FAQ may answer your question as it is meant to do.

Under

>I have comprehensive motor vehicle insurance. Why do I need CTP insurance?

http://www.treasury.act.gov.au/compulsorytpi/act_CTP_faqs.pdf

You can also LOL at the answer of:

>Is CTP insurance good value?

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