20m cover for accidental loss or damage to other peoples property caused by an accident which is partly or fully your fault 1.

How much is third party car insurance in australia. Well if youre using a rental car the third-party liability insurance minimum coverage that comes with the rental is 200000. Well cover your car for up to 5000 for damage caused by an identified uninsured driver. This auto insurance policy is chosen by those who have just bought their own brand new car of high value or those who have taken a car loan to buy their dream car.

For example the average annual cost of comprehensive car insurance premiums in NSW for a male driver under the age of 25 was 2471 according to Canstars 2020 car insurance Star Ratings data. Third party property car insurance sometimes called Third Party Property Damage covers damage to other peoples vehicles and property. Theres no universally cheapest third party car insurer as your cost will depend on your circumstances.

How does third party insurance work then. In Australia there are three broad types of car insurance. If youre responsible for a car accident your compulsory third-party insurance will be used to pay any compensation due to anyone who might be injured or killed.

You have the choice of four CTP insurers in South Australia when you register or renew your vehicles registration. Compulsory Third Party insurance is paid whenever you register your car in South Australia. If the person using your car causes damage to someone elses vehicle or property theyre covered for up to 30 million.

In contrast you can compare and choose your Third Party Property Damage insurance provider no matter where you are in Australia. A compulsory third party CTP insurance premium. It is because this insurance policy only covers the third party vehicle damage.

Passenger car motorcycle or ute while the registration cost is based on the number of cylinders in the vehicle. Third Party Property Damage Car Insurance. So if the value of your car isnt huge third party car insurance may be enough cover for you.