Having moved from NSW recently I felt the gross indignation that other Canberran’s have on learning that the NRMA exercises a monopoly on ACT CTP insurance. Having through no fault of my own been born a male in 1982, I am (despite a spotless 8 year driving record) demanded to pay the highest insurance premiums because of my age and penis.
Well I was planning on giving the finger to the man by keeping the car registered in NSW at an alternative address and getting the most competitive NSW CTP I could… until I did the sums.
For me, and my 1996 Mazda sedan I pay $608.35 for registration including CTPI in the ACT.
In NSW, an NRMA CTP Greenslip costs me $628.76 PLUS registration fee of $218 = $846.76
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For comparison, a 50 year old driver with the same car and spotless driving record as myself pays $462.74 for their NSW CTP.
So I “save” $238.41 that the NRMA would otherwise have bent me over and removed.
So long live the monopoly! It seems the ACT monopoly that the NRMA enjoys also provides a benefit to those the insurance company views as “high risk”.
So finally, one piece of consolation and respite for a 26 year old male driver living in Canberra who feels there are no rewards for driving responsibly (I gave up on comprehensive insurance this year, putting my money where my mouth is, feeling that if the insurance companies wouldn’t gamble on my clean driving record for less than a ridiculous $1200 I’d take the risk).