Recent years have seen changes to the personalised transport industry, including the introduction of a new CTP insurance class and differences in the way that operators work and lease vehicles.
In response, we are aligning premiums paid by personalised transport operators who deliver similar services. This includes offering a car or station wagon for hire, with or without a driver. This change aims to provide greater fairness while ensuring that premiums still cover the expected cost of CTP injury claims.
The base insurer premium that forms part of the total CTP insurance premium will change from 1 October 2021 for class 3 taxis (cars or station wagons), class 4 hire cars (including booked hire rental vehicles), and class 26 booked hire vehicles.
From 1 July 2022, the levies and fee that make up the rest of the total premium will change to reflect these new arrangements. This will mean that the total cost of CTP insurance for personalised transport vehicles in these three vehicle classes will be the same from 1 July 2022 onwards.
We will be closely monitoring these changes on a quarterly basis and will be ready to respond should any unexpected trends or adverse impacts arise.
CTP insurance premiums change each quarter to account for the expected cost and number of claims. You can see the exact premium that applies to you 4-6 weeks before your registration is due through either the:
- CTP calculator
- CTP information notice enclosed in your rego renewal sent by the Department of Transport and Main Roads.
In the meantime, to assist with adapting to this change, we have enclosed below premium details for the upcoming 1 October to 31 December 2021 quarter. The CTP calculator will also be updated from 23 August 2021.
Renewing your rego for 3 months
|Class||Premium||Change from your last 3-month renewal|
|Class 3 taxis (cars and station wagons)||$322.25||-$476.90|
|Class 4 hire vehicles||$201.85||$39.40|
|Class 26 booked hire vehicles||$207.15||-$29.80|
Renewing your rego for 6 months
|Class||Premium||Change from your last 6-month renewal|
|Class 3 taxis (cars and station wagons)||$644.50||-$1,051.20|
|Class 4 hire vehicles||$403.70||$82.90|
|Class 26 booked hire vehicles||$414.30||-$1.30|
Renewing your rego for 12 months
|Class||Premium||Change from your last 12-month renewal|
|Class 3 taxis (cars and station wagons)||$1,289.00||-$2,442.00|
|Class 4 hire vehicles||$807.40||$148.60|
|Class 26 booked hire vehicles||$828.60||$17.80|