There are currently only seven companies that offer CTP insurance.

What does third party car insurance cover gio. Third party car insurance is the minimum level of cover you can take out - it is a legal requirement. A comprehensive policy will also cover you for many other weather-related damages caused by fire storms and floods. 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 the car owner and the insurance company.

It covers you against paying compensation to people injured in an accident that you caused. When your car causes damage to someone elses property this policy provides up to 20 million of liability cover. This is basically the complete insurance package.

You cannot register your vehicle without it. It covers damages to the property damages to the vehicle physical injuries and death of the third party. Third Party Property Damage Car Insurance This is the most basic level of cover offered by GIO and also the most affordable.

Conversely Third Party Property and Third Party Fire and Theft insurance are intended to pay for damages you cause to other vehicles and property. This might include the driver of your vehicle other drivers passengers in your car and other vehicles pedestrians cyclists and motorcyclists. Third-party insurance protects you from any legally payable liability that occurred to the third party in your own car by an accident incident or any mishappening.

However third party insurance will not offer compensation. All drivers registering their vehicles in New South Wales are required by law to have a NSW Compulsory Third Party CTP Insurance policy also known as a CTP Green Slip. This may include the driver of your vehicle other drivers passengers pedestrians cyclists and motorcyclists.

CTP insurance is compulsory in Australia. Under a third-party policy the insurer covers the liabilities in case the policyholder is responsible for any injury or loss to a third party. This insurance provides cover for people injured caused by your vehicle in an accident.