Switchboard Finance Logo – Green Slip Glossary

Green Slip

A Green Slip is NSW’s compulsory CTP (Compulsory Third Party) insurance. It covers people you may injure if you cause a road accident — but it does not cover damage to vehicles or property. Lenders often require an active Green Slip before settling Vehicle Finance, Equipment Finance, or Low Doc Loans. Related glossary terms: Pink Slip, Roadworthy Certificate, On-Road Costs. Relevant blogs: Low Doc Vehicle Finance Guide, Tradie Vehicle Finance.

Why Green Slips Matter

A Green Slip is required before a vehicle can be legally registered in NSW. Lenders may request a Green Slip during settlement to ensure the vehicle can be registered and used on the road. This helps streamline approvals for customers in the Tradie Hub, Truckie Hub, and Business Owners Finance Hub.

What a Green Slip Covers

  • Injuries to other road users if you cause an accident.
  • Medical treatment and rehabilitation costs.
  • Legal liability for injury claims.
  • Loss of income for injured parties.

A Green Slip does NOT cover:

  • Damage to your own vehicle.
  • Damage to other vehicles or property.
  • Fire, theft, hail or flood.

Official reference: sira.nsw.gov.au

What is a Green Slip?
A Green Slip is NSW Compulsory Third Party (CTP) insurance covering injuries to people in accidents you cause.
Is a Green Slip the same as registration?
No — a Green Slip is required before registration, but it is not registration itself.
Do lenders require a Green Slip?
Yes, lenders often require it before settlement so the vehicle can be legally registered and driven.
Does a Green Slip cover damage to my car?
No — it only covers injuries to people. You need Comprehensive Insurance for vehicle damage.
Can you drive without a Green Slip?
No — in NSW it is illegal to drive an unregistered vehicle without a valid Green Slip.