Savvy motorists can shop online for best value CTP insurance

8 January 2006

Savvy Queensland motorists are shopping around in an increasingly competitive CTP insurance market, Acting Premier Anna Bligh said today.

Compulsory third party premiums for all insurers for the March quarter are now available online from Queensland’s Motor Accident Insurance Commission, and Ms Bligh urged motorists to ‘do their homework’ to get the best deal.

Premiums for sedans and station wagons (class 1 vehicles) from 1 January to 31 March 2007 range from $278.00 to $299.20.

“CTP premiums have fallen over the past 12 months in a range from $4.00 to $22.00 depending on the insurer, and competition in the market is intensifying,” Ms Bligh said.

“Insurers are becoming increasingly competitive with various add-on products, multi-policy discounts or other incentives, and as with any product, price is only one factor consumers need to consider.”

Ms Bligh said Queensland’s compulsory third party scheme offered good value for money.

“The most a Queensland motorist will pay for their sedan or station wagon is $299.”

Queensland motorists can check premiums for all insurers through the on-line CTP Premium Calculator at www.maic.qld.gov.au or from the premium rate information line 1300 735 404.

“The best advice is to shop around – do your homework, check out the premiums, talk to individual insurers about what they’re offering and then choose the product that’s best for you,” Ms Bligh said.

Motorists can change their insurer when they renew their registration by nominating their choice on the back of the registration renewal notice, or when paying online at www.transport.qld.gov.au

They can also change their insurer at any time during the period of registration by contacting Queensland Transport, although this change of insurer will only become effective at the next registration renewal date.

Media contact: Deputy Premier's Office 3224 6900