WITH Costco petrol (for members) diving under a dollar per litre there’s more good news for Canberra’s motorists as GIO have announced the first ever reduction in Compulsory Third Party (CTP) insurance premiums.
GIO is reducing the price for a private car to $568.60, down from $590.20.
“When GIO entered the CTP insurance market 18 months ago, we were determined to offer ACT motorists choice and value,” said Paul Lawton, CTP Portfolio Manager ACT.
“It’s great to be able to deliver this reduction in price to GIO customers.
“This price drop will make GIO CTP insurance $20 less than our nearest competitor for a private car.
“Competition means you have options, and I encourage people to make a choice when it comes time to renew their rego,” said Mr Lawton.
The reduced pricing will take effect from 1 March 2015. Registration renewal notices with the new prices will begin being posted to customers this Friday 15 January.
GIO will cease offering the current rebate to eligible drivers for CTP policies from 1 March 2015.