CTP insurance is compulsory in all states of Australia.

What is third party compulsory motor vehicle insurance. Furthermore such coverage is often a component within the primary motor insurance policy. As the name suggests this will only protect you from damages and losses caused to a third-party and wont cover for your own damages. Even if you do everything you can to prevent damage or injury they still happen.

CTP insurance covers compensation payments for people injured or killed in a motor vehicle accident. CTP insurance covers those injured in a crash for. Continued negligence of the compulsory third party motor insurance policy among road users in Lagos and other parts of the country despite efforts to curb this by insurers through the Nigeria Insurance Industry Data Base NIID is starting to have a multiplier effect on Nigerians and huge revenue loss to insurers THISDAY investigation has revealed.

Third-party liability insurance TPL is an important form of protection found in your automobile policy. However compulsory third-party insurance doesnt cover you for vehicle damage or theft. TP cover does not pay for repair of damage to your vehicle.

It is referred to as a third-party cover since the beneficiary of the policy is someone other than the two parties involved in the contract ie. It doesnt cover the cost of damaged vehicles and property or damage to or loss of your vehicle. Unfortunately accidents often result in legal proceedings and lawsuits.

Motor third-party insurance or third-party liability cover which is sometimes also referred to as the act only cover is a statutory requirement under the Motor Vehicles Act. It is the legal minimum level of motor insurance cover any motor vehicle. The liabilities which require compulsory insurance are.

You cannot register your vehicle without having a policy in place. Compulsory Third Party CTP insurance provides owners and drivers of Western Australian registered vehicles with cover for the cost of injuries they cause to others in a motor vehicle crash anywhere in Australia. The insurance of motor vehicles against damage is not madecompulsory but the insurance of third party liability arisingout of the use of motor vehicles in public places is madecompulsory.