Car Insurance in Australia
Car Insurance in AustraliaThe minimum insurance that you must have is the COMPULSORY third party cover. This may be known by different names in the different Australian States. In NSW it is normally called a "Green Slip", in Queensland it is known as CTP, in Tasmania MAIB ... Compulsory Third PartyCompulsory Third Party is a compulsory insurance to cover Injury to Third Parties, that must be taken out when registering a motor vehicle. It covers the owner or driver of the motor vehicle in the event of an accident against any legal liability or obligation that they may have to anyone that they injure, it only covers personal injury, it DOES NOT cover damage to other property, cars etc Optional extra covers can be taken out with an insurer of your choice, it can be a different insurer to the above compulsory cover if you wish. These covers are normally either Comprehensive cover or Third party Property with Fire and Theft. The cost of CTP will vary between the different states, and some states allow the Insurers to charge different premiums, but some don't. In Queensland for July 2009 registrations, the premium is either $337 or $340 In New South Wales, the premium for my car, at one specific address in NSW, would vary between $412 and $622 depending on the insurer. Third Party Property InsuranceThis covers any damage that you may cause to another persons property, whether another car, a brick wall, etc. This extra cover, when added to the above CTP, makes the total cover equivalent to the UK Third Party Only cover, and should be the minimum that you consider. Third Party Property, Fire and Theft InsuranceThird Party Property, Fire and Theft Insurance covers you against accidental damage to other cars or property if you cause an accident. Your car isn't covered for any accident damage but it is covered against fire or theft. This policy does NOT cover Third Party injury to any person, as that is covered by the Compulsory third party cover mentioned above. Comprehensive InsuranceComprehensive Insurance is an optional insurance cover that covers damage to your car, and or other vehicles that may be damaged in an accident. Again, this policy does NOT cover Third Party injury to any person, as that is covered by the Compulsory third party cover mentioned above. No Claims DiscountMany Insurers will accept your word that you have proof of No Claims Discount from the UK, but in the event of an accident, it is highly likely that they will want to see the proof prior to paying out the claim. My advise is to send a copy of it to the Insurer, so they have it on file. There is no discount allowed on the CTP cover, in Queensland (Other States to be checked). LinksUseful Insurer Sites to obtain Compulsory Third Party Insurance Quotations:All other States have a single CTP Provider
Useful Insurer Sites to obtain Standard Motor Insurance Quotations:
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