Benefits for taxi drivers are even larger, and there will also be greater protection for people injured in crashes, even if they are at fault, because of the changes by the state government.

The scheme will change on December 1, and most poeple who renewed their registration during 2017 will also be eligible for a partial refund.

The closer to the launch date that registration was renewed, the bigger the refund will be.

“For 16 years NSW motorists have been under pressure in relation to green slips. What we have seen for 16 years is insurer super profits, increased fraud and an increase in premiums,” NSW Minister for Finances, Property and Services Victor Dominello said.

“It’s taken this government to break through and deliver a benefit for motorists. We will see that benefit arriving on December 1.

“In Mudgee you will see a reduction of about $70, but if you are a taxi driver, you will see a reduction of about $2300.”

Mr Dominello said the reforms to compensation were just as important.

“This is great news for Mudgee because not only are you seeing a reduction in premiums for the first time in a long time but you are going to also see more protections on the road,” he said.

“On long country roads people are more prone to accidents, and if you had an accident under the old scheme you didn’t get much protection.

“Under the new scheme if you have an accident, even if you are at fault, for example you hit a tree, run off the road, you will now be protected for the first six months by way of loss of income and medical expenses.”

Mr Dominello said more details about how refunds would be distributed would be revealed soon but a chart has been released to give people an idea of how much they will save and how big their refund will be.

Price checks for CTP green slips can be performed at www.greenslips.nsw.gov.au.