All drivers in Australia are required to have compulsory third party insurance by law.

Compulsory third party car insurance sa. Compulsory Third Party CTP also known as Green Slip insurance in New South Wales is compulsory in every Australian state to allow you to register your vehicle explains Hugo Schreuder CEO of Australian insurer Youi. Your CTP insurance premium provides cover under a compulsory Policy of Insurance under the Motor Vehicles Act 1959. The Compulsory Third Party Insurance Regulator was established by the SA Government as an independent body and commenced operating on 1 July 2016.

If third party insurance was made mandatory in South Africa. The insurance covers any other drivers passengers in your car pedestrians or cyclists that have been affected by the accident. Lack of third party enforcement is not sustainable.

Third Party Car Insurance covers you for damage to another persons car or property caused by the use of your car - say a neighbours inconveniently placed fence or letterbox - and youre at fault. It would lower the number of road accidents. Just nominate your preferred insurer on your registration forms.

The car insurance industry has to carry a massive financial burden which is also shared by insured motorists. Compulsory third party car insurance A major difference between compulsory third party insurance and comprehensive car insurance is that in Australia CTP insurance is compulsory. The Compulsory Third Party CTP insurance in South Australia is provided by one of four insurance companies Allianz AAMI QBE or SGIC as of 1 July 2016.

If youre responsible for a car accident your CTP insurance will be used to pay any compensation due to anyone who might be injured or killed. Santam on Compulsory Third Party Insurance. Should third party insurance be compulsory in South Africa.

1 Thus when one of the remaining 65-70 or one of about 8 million motorists cause an accident with one of the 30-35 insured what. Mandatory third party would reduce the cost of insurance. CTP insurance is required before you can register your vehicle.