Compare CTP Insurance South Australia
Compare CTP SA
After 1 July 2019, you will be able to compare prices for CTP insurance in South Australia. For 3 years until then, premium prices are fixed and each vehicle owner is allocated an insurer. There are currently four licensed providers of CTP:
After 1 July 2019, the scheme will be opened to the market. From that date, you can compare CTP SA prices and choose your insurer. The CTP Regulator will provide ratings on each insurer, based on customer surveys of their handling of claims during the 3-year period and beyond.
The regulator will set a minimum and maximum allowable premium around May 2019. Insurers will be allowed to offer incentives, such as reward programs, loyalty schemes or gift cards. They will also be permitted to bundle CTP insurance with, eg, household or comprehensive vehicle insurance, to cut a household’s total insurance bill.
All four approved insurers must provide the same CTP insurance coverage. If you are injured in a road accident involving your vehicle, available compensation will be the same with each insurer.
Note, if you buy a new car from a dealer, it will be randomly allocated an insurer to prevent kickback commissions. You will be able to switch insurers after 3 months.