Owners of cars used in ride sharing could be forced to declare their vehicle for insurance purposes under changes being considered by the New South Wales Government.

Key points: NSW Government considering CTP changes due to rise in ride sharing

NSW Government considering CTP changes due to rise in ride sharing Uber drivers may have to declare car for insurance

Uber drivers may have to declare car for insurance One option being considered is creation of new CTP class for ride-sharing drivers

The Government announced a review of the CTP Scheme in the point-to-point transport market to reflect changes brought about by the rise in car-sharing services such as Uber and Lyft.

NSW Minister for Better Regulation Victor Dominello said the legalisation of ride sharing made the review necessary.

"It is important that we create a level playing field with all aspects in relation to the market place," he said.

"CTP is an area that required revision given there is a 10-fold disparity between what the taxi drivers pay and what private operators pay."

Taxis and hire cars are insured as a separate vehicle class, while ride-share services are mostly included in the general pool of passenger vehicles.

One of the six options being considered would create a new CTP class for ride-sharing vehicles, while another would see all taxis and hire cars brought into the same basic passenger vehicle class.

Mr Dominello said there would be wide consultation on any changes to the scheme.

"We invite public submissions which will close on the 8th of April and we will definitely be liaising with the Taxi Council and ride-sharing services such as Uber to try and get a level playing field in the marketplace," he said.

The ABC has attempted to contact Uber for comment but has not yet received a reply.