CTP premiums to align for metro taxis and rideshare vehicles
Compulsory Third Party insurance premiums for metropolitan taxi and metropolitan rideshare vehicles will soon be brought into line, creating a fair and consistent approach for vehicles providing the same type of point-to-point service.
The independent CTP Regulator has determined new and aligned premium ranges for these vehicle classes to apply to registration renewals due on or after 1 September 2026, and to all new registrations from that date.
The change recognises that metropolitan taxis and metropolitan rideshare vehicles operate in a comparable way. Both provide commercial point-to-point passenger transport, travel across the same metropolitan road network and are exposed to similar driving patterns, passenger activity and CTP claim risk.
The alignment will reduce premiums for metropolitan taxi operators while increasing premiums for metropolitan rideshare vehicles to better reflect their comparable usage. Taking into account their income tax credit entitlement status, the annual metropolitan taxi premium will reduce from the 1 July 2026 premium to $1,339.09 (down $1,374.57 / 51%), while an annual rideshare vehicle premium will increase to $1,298.05 (up $191.74 / 17%).
There is no impact for non-metropolitan taxis and rideshare operators as the premium range for these vehicle classes is already aligned.
Quotes
Attributable to Tom Koutsantonis
The cabinet has endorsed this determination by the independent CTP regulator to come into effect later this year.
It recognises that metropolitan taxis and rideshare vehicles operate in a comparable way, with both providing commercial point-to-point passenger transport, operating across the same metropolitan road network and with exposure to similar driving patterns, passenger activity and CTP claim risk.
The new designation will see big savings for many drivers with smaller increases for others, but significantly aligns point-to-point passenger transport operators providing equivalent services.