If you own a motor vehicle you are required by law to buy Compulsory Third Party CTP insurance every year as part of the vehicle registration process.

Compulsory third party car insurance act. Hi All Recently i have an accident hit the tree and my car was badly damage. It provides the driver cover for any legal liability for injury and death as a result of an accident for which the insured is responsible be it for other drivers passengers pedestrians or cyclists. Nayyarmukul on Tue Mar 01 2011 131 pm.

When you register or re-register your vehicle you are required to pay a CTP premium. Coms consumer 2 days ago mastercard rental car insurance. TP cover does not pay for repair of damage to your vehicle.

On the one side the Act confers a right upon citizens generally a right which Mr. All Australian motorists are required to pay Compulsory Third Party CTP cover when registering a vehicle. Who does it cover.

Covers other people including pedestrians cyclists and passengers injured in a car accident that is found to be your fault or the fault of someone else driving your car. Suncorp owns GIO AAMI and APIA and has 45 of the market. But what is it and why do we need it.

For starters minimum coverage wont provide compensation for any property damage even if the car is a total loss. 3 Whether or not the insured has filed a defence in the action if an insurer denies liability to an insured under the plan or an optional insurance contract the insurer may issue and serve a third party notice and be made a third party in any action to which the insured is a party and in which a claim is made against the insured by a party with respect to which it is or might be asserted that indemnity is provided by the plan or an optional insurance. MAI Insurance was previously known as Compulsory Third Party Insurance CTP and only covered people injured by an at-fault driver prior to 1 February 2020.

It covers only your legal liability for the damage you may cause to a third party bodily injury death and damage to third party property while using your vehicle. Compulsory Third-Party Insurance CTP Compulsory. What is Compulsory Third Party Insurance CTP.