Saving money on you CTP insurance is simple and generally only takes a few minutes each year. Here’s how to pay less for your next Green Slip.
Compare prices every year
Before you renew with your current provider; compare prices, even if your current provider was previously the cheapest. Your provider has most likely increased its price and is relying on you renewing without even checking the price. Check out some of the big, and little, providers to get a rough gauge of the market.
Ask for a discount
Sounds too easy, right? Well, it is and it isn’t. Once you get your renewal form, simply call up your provider and ask for a discount. Before you do, though, come up with a reason for why you deserve one. Maybe you’re a long-time customer or your someone else offered you a discount on a CTP. The worst thing that will happen is you will be declined.
The price of a CTP is based on the information you provide about yourself and vehicle. When buying CTP insurance, you will be asked:
Type and age of vehicle
Age of owner
Age of drivers
While it is impossible to change the vehicle’s details, you might be able to put it in someone else name to save on your next CTP. Generally, less ‘risky’ drives will get cheaper CTP insurance, so if possible put it in their name. Likewise, for a family try getting a quote for both partners in a relationship, one may be cheaper. However, it is important not to falsify or provide misleading information.
Look for a loyalty discount
Both banks and insurance companies offer discounts when you buy multiple products from them. Even if you don’t get a discount on your CTP, you may be entitled to a discount on another policy. Check with your current bank or insurer for any deals they have.
There is strong competition within the CTP market, however costs are mostly fixed. If you have an insurance company that you are happy dealing with try to get the best deal you can out of them.
You’re probably better paying slightly more for excellent service, than saving a few bucks and ending up lost in an auto answering service for half a day should you ever need to make a claim.
Try some of these tips before you renew you next CTP Green Slip and see how much you can save.