Current premium rates
Compulsory Third Party (CTP) premiums are structured according to the type and use of the vehicle. There are 24 vehicle classes. The insurance premium includes the insurer's premium, levies and an administration fee. GST applies to the insurer's premium portion of the total CTP insurance fee.
Licensed CTP insurers may offer different premiums for CTP insurance. Insurers are required to determine their premium rates every quarter within an upper and lower limit set by the Motor Accident Insurance Commission. Therefore, the premium you pay will depend on your choice of insurer and the particular premium period within which your vehicle registration renewal falls due.
Your CTP insurer and premium are stated on the CTP information notice included with your registration renewal. If you do not wish to change insurer, then simply pay the amount stated.
If you wish to change your insurer, you may like to consider the various insurers' offers and make a choice before you approach Queensland Transport to pay your registration (See Changing Insurer).
When choosing your insurer, price may not be your only consideration. Insurers may offer some add-on products or incentives with CTP insurance, for example, the limited additional benefit of at-fault driver cover for serious injuries or death. You will need to contact each insurer for details on policy coverage and exclusions. It will also be helpful to know when your vehicle registration renewal is due.
Levies and Administration Fee
Your CTP insurance premium includes the following levies and administration fee:
-
Statutory Insurance Scheme Levy
A levy to fund the operations of the Motor Accident Insurance Commission in the management of the Compulsory Third Party Scheme. -
Hospital and Emergency Services Levy
A levy to fund a reasonable proportion of the cost of public hospital and emergency services where a CTP claim could be made by motor vehicle accident victims. Claims may arise from accident victims other than yourself. -
Nominal Defendant Levy
A levy to fund the cost of injury claims where a vehicle involved in an accident is either uninsured (unregistered) or cannot be identified. The Nominal Defendant will seek recovery of all monies paid on claims from the owner and/or driver of an uninsured vehicle. The Nominal Defendant is also responsible for the liabilities resulting from an insolvent CTP insurer. -
Administration Fee
A fee to fund the cost of collecting CTP insurance and administering and maintaining the scheme by Queensland Transport.
Last reviewed 24 February 2009
Other languages