CTP (for QLD) revisited

It's been a while since I last looked at CTP, and the associated at fault driver protection policies. It's also been a while since I blogged, but that's a different story. I recently came across this deal on OzBargain whereby QBE is offering up to $50 for people to switch their CTP to them, and someone commented that Suncorp has a similar offer. So I thought it's time to re-survey the landscape. Here are some things I've noticed:

• There are fewer CTP providers since the last time I looked; AAMI and NRMA are no longer in the game.
• Not too much has changed in terms of the things covered by the various at fault driver protection policies.
• It's still difficult to find the full details of the policy QBE offers. I ended up calling them and had a copy emailed to me.
• RACQ still offers significantly less 'bang for buck' compared to the competition, who are all fairly neck and neck, with Suncorp being a nose in front.

Here's a summary side by side comparison based on my skimming of the various policy documents, with the pricing from the MAIC CTP calculator. The providers are listed in best to worst ranking (by my reckoning).

QBE will only give me $25 for switching to them, so that's a $12 overall benefit if I change from my current provider Suncorp. Assuming Suncorp still has their offer next year, I should be able to switch back to them and save another $50. Based on this, and assuming that things stay more or less the same in the coming years, I could just rinse and repeat this process for some easy savings... wonder why I didn't work this out earlier!