South Australian motorists will see reductions in their CTP premiums from July 1 as reforms under the previous Labor Government to the state’s compulsory third-party insurance scheme continue to deliver benefits to motorists.
The cheapest premium offered to motorists will be $276.84 from 1 July for metropolitan based private passenger vehicles, down $18.15 (6%), and down $8.57 (4%) for non-metropolitan-based vehicles.
The competitive CTP scheme introduced in 2016 means all policy holders of annual premiums will fall from July 1, including:
- goods carrying light vehicles (utes) by $15.96 (down 5%) metro and $11.80 (down 6%) non-metro;
- taxis metropolitan by $411.92 (down 13%) and country by $87.22 (down 15%);
- rideshare metropolitan by $47.68 (down 5%) and country by $96.10 (down 16%); and
- public passenger small (chauffeurs) by $44.27 (down 7%) metro and $24.97 (down 6%) non-metro.
Since the commencement of the competitive CTP insurance scheme the lowest available premium has from 1 July 2023:
- decreased in the district 1 (metro) private passenger vehicle class by $134.41 (33%) from $411.25 to $276.84.
- decreased in the taxi metropolitan premium class by $2,035.12 (42%) from $4,790.40 to $2,755.28.
Across government fees and changes will rise by about 4.8 per cent in 2023-24 – well below inflation.
As promised, the Malinauskas Government used the traditional method of calculating fees and charges – a combination of public sector wages and increases in prices – meaning the increase has been kept almost 40 per cent below inflation (7.9%).
Some examples include:
| 2022-23 | 2023-24 | $ increase | |
|---|---|---|---|
| Drivers’ licence renewal (5 years) | $245 | $255 | $10 |
| Drivers’ licence renewal (10 years) | $490 | $510 | $20 |
| Car registration (12 months - 4 cylinders or less) | $664.32 | $663.93 | -$0.39 |
The traditional method of setting fees and charges had been abandoned by the former Liberal Government in the 2019-20 Budget, resulting in fees and charges going up 5% in that year, more than double the rate of inflation at the time.
Quotes
Attributable to Stephen Mullighan
We are working hard to help struggling households, including partnering with the federal government to provide hundreds of dollars in energy relief for half a million SA households and businesses.
We are also providing free public transport for eligible seniors 24 hours a day, seven days a week and have kept our promise of no new taxes.
Motorists are continuing to benefit from the competitive CTP scheme introduced by the previous Labor Government with annual premiums to fall from July 1.
We are continuing to deliver on our promise to use the traditional method of setting fees and charges. It means we can keep increases to well below CPI, unlike the Liberals, who preyed on motorists, public transport users and many others with a cash grab double the rate of inflation.
