Green Making Insurance Companies Rich

With our ridiculous age of litigation and liability even our motorcycling fraternity is now the brunt of another cash cow. I am referring to the mighty CTP green slip.

I have recently renewed this “essential” bit of insurance whilst registering my bike and car, and while I do understand the underlying principle of the green slip I am absolutely befuddled, and enraged at the same time at the increasing cost.

The cost of a green slip for a bike in particular can range from $380 – $700 for a private vehicle, depending on the insurance company you go with, what I fail to see is how this government legislated insurance can vary so much and can be so high for a motorist that has minimal to no liability for a third-party.

For example, for a car owner, the liability for injuring of a third-party is high, so I can see how this insurance can range from $406-$700, however for a motorcyclist we have an extremely low liability in this instance. I may take a pillion probably about 5% of my year, so the only one at risk is myself, thus the reason I have income protection and life insurance, the risk if I have an accident in 99% of the time would be panel damage to my vehicle or someone else’s vehicle, thus the reason I have full comprehensive insurance, so why oh why do we pay so heavily on the CTP green slip for a motorcycle??

In recent reforms the CTP green slip now covers the at fault driver, this may count for some of the rise, but instead of asking and discounting for people who have their own protection insurance, these cashed up insurers like all the banks just hike the price as they see yet another way to strip our hard-working citizens out of more of their hard-earned cash

We hear of talk about helping minimise cost to families, but we see no action from anyone to make one of the most cost-effective, resource saving forms of transport viable. They want us to save the environment, and minimise traffic congestion in our cities, yet now it is no more expensive to register a motorcycle than it is a small car thanks to this CTP cash cow

When are we going to say enough is enough…… How many insurances do we need to have??
Love to hear your comments

~ by danielromaine on April 17, 2010.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: