Renew 3rd party after just 2 months??? Is that right?

[JJCRU23R]

My mate bought his mr2 spyder back in feb, just a couple months back. When he bought it, he paid for 12 months 3rd party insurance. His rego is due last week of may. Does he need to buy another 3rd party insurance now before his rego is due or can he show the nsw rta the existing policy, which will expire 2 months earlier than the 2010 rego? Not sure if this makes sense but my mate shouldn't have to pay yet another 6-800 bucks on insurance he paid for only 2-3 months ago.

[1rocky]

What i think you are talking about is the green slip which is different from third party insurance.

green slip which can bought from several insurance companies including nrma gio etc. must be paid before you can renew your rego . i think the price is around the $440 for under 25(please correct if i am wrong).

Your third party insurance will last the twelve months and be due each yearon the day it was taken out.

[JJCRU23R]

from what ive read on the motor accidents authority website CLICK HERE they are one and the same thing.

I know what you mean... basically you need a fresh greenslip and pinkslip at the time you pay for your rego at the RTA. but he bought this car a couple months back and its kinda stupid if he drives around in his newly bought car without some sort of insurance under his name.

as for the price of the insurance, i think the price depends on which area you garage your car.

i cant hardly remember back when i bought my car 2nd hand.. i remember thinking bout this issue but cant remember what i did.

Edited May 6, 2009 by mannyMANNYmanny

[JJCRU23R]

ive read a couple used car buyers guides and they all say you should buy insurance before you drive away with the car... but usually the rego is due before youve had the car for 12 months.. so what do you do? my mate has 10 months more on his current greenslip that hes already paid for.. that money cant be wasted and he has to buy another 12 months at the time of his rego?

[Rolla Boy]

You've got it wrong...

He paid for 3rd party insurance... That will still be active for another 10 months as you stated...

Greenslip is Compulsory and must be renewed at the same time of pinkslip...

NRMA always has the cheapest prices from my experience...

[jps137]

Just to make this a bit clearer both insurances are 3rd Party

The Greenslip is Compulsory Third Party Insurance it covers injury your vehicle may cause to other people (a Third Party) and is required before you can renew your rego (the Compulsory part)

The third party that mannyMANNYmanny is refering to is most likely Third Party Property which covers damage to other vehicles street signs and trees and anything else other than people

[JJCRU23R]

So does that mean my mate needs 2 3rd party insurances???? That doesn't make sense.

[Hiro]

Compulsory Third Party insurance, otherwise known as CTP or the "greenslip" (because it is printed on green paper) is part of the vehicle registration, and must be paid for at the time that the vehicle is registered. In addition to that, the insurance is technically paid on the vehicle itself, not the driver (although the rate is based off the youngest driver of the car), and is transferred along with rego to new buyers (note how when you buy a car you don't have to pay for new registration if it hasn't expired, just a fee to transfer the name). It is impossible to register a car without CTP, and it is illegal to drive a vehicle without CTP (considering that the car would have to be unregistered for that anyway).