Everyday Living
Car Insurance
Car Insurance
In New South Wales, it is mandatory to have Compulsory Third Party (CTP) Insurance (also known as Green Slip Insurance) for your car, which covers the cost of injuries caused by car accidents. You can purchase CTP insurance separately.
In addition to CTP insurance, you can also choose to purchase Third Party Property Damage or Comprehensive Car Insurance. Third Party Property Damage insurance covers damage to other people's property, including cars, when an accident is your fault.
Comprehensive Car Insurance covers repairs to your car and repairs to other cars, even if the accident is your fault. It also covers your car if it's stolen or damaged by fire, flood or vandalism. To get the best deal on car insurance, you should take time to compare the cost and understand what is (and is not) covered by different policies. When deciding which type of insurance will suit you, think about whether you can live without your car if it's written off or stolen. Also consider if you can afford to pay for the damage to someone else's car if you have an accident.