Your insurance premium is the amount you pay for your policy. It’s calculated using a range of factors, and it can be different for each person. Some of the things we consider include:

• vehicle details – such as the make, model, vehicle age, and insurance history of the vehicle,
• driver history – including the youngest driver’s age, driving record, previous claims and any demerit points,
• region – the area in which the vehicle is primarily garaged and used,
• the length of cover (6 or 12 months), and
• if the vehicle is registered for private or business use.

As these factors change, your premium may also change.

This isn’t a full list, and the factors we use may change over time. Each factor can affect your premium differently, which is why your premium might change when you renew your policy.

Other things that can influence your premium include (but are not limited to):

• the cost of claims (for example, medical and health care services) and what we expect to pay in the future,
• our business costs, and
• conditions in the insurance market.

To obtain a CTP Green Slip, which is required to register your vehicle, your total premium also includes GST and the Fund Levy.