Compulsory third party CTP car insurance sometimes known as a green slip protects you from legal and medical costs arising from injuries and deaths caused by car accidents.

What does third party car insurance cover gio. 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. How much third-party liability car insurance coverage should you have. This is the type of insurance that covers everything from damages to your car and yourself in a collision to the third party and their property and also covers the fire and theft aspect of the Third Party Fire and Theft insurance.

Compulsory Third Party CTP Insurance and Motor Accident Injuries MAI Insurance provide cover for injuries to people who may be hurt or killed in a motor vehicle accident involving your vehicle. CTP insurance is compulsory in Australia. CTP insurance doesnt cover damage to your car or any.

It could be a much higher sum depending on the accident and how severe the injuries are to those involved and the damage to other drivers vehicles. Third-party insurance provides coverage when you are responsible or at fault resulting in property damage or personal injury. The term third party refers to a person involved with a car insurance claim who is not you the holder of the policy or the driver.

This may include the driver of your vehicle other drivers passengers pedestrians cyclists and motorcyclists. Be it physical injury death or loss to physical property your insurer will compensate for it. 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.

This might include the driver of your vehicle other drivers passengers in your car and other vehicles pedestrians cyclists and motorcyclists. Compulsory Third Party CTP Insurance in NSW and Motor Accident Injuries MAI Insurance in the ACT both provide cover for people who may be injured or killed in a motor vehicle accident involving your vehicle. It covers you against paying compensation to people injured in an accident that you caused.

There are currently only seven companies that offer CTP insurance. 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. When your car causes damage to someone elses property this policy provides up to 20 million of liability cover.