Compulsory Third Party insurance CTP or greenslip as its most commonly known as in NSW is something all vehicles are required to be covered by in all states within Australia.

What is compulsory third party car insurance. Compulsory third party insurance also known as the abbreviation CTP insurance is used to provide compensation and cover for people injured or killed by an accident. Its unique in that it only protects you from third party personal injury liability and does not cover injury to you as the owner or driver of the vehicle or damage to any property. In India third party insurance is a mandatory cover without which one cant drive hisher vehicle on the roads.

Many other countries already have a form of compulsory third party insurance some which cover bodily injury. Every now and then the question comes up of whether third party motor insurance should be made compulsory in New Zealand for all motor vehicles. Benefits of third party motor insurance.

One type of insurance is third party insurance which is made compulsory by law for drivers to purchase in many areas. Like eating or sleeping for every car owner CTP insurance is an essential part of life. Compulsory third party car insurance CTP is as the name suggests compulsory insurance that protects third parties.

However compulsory third-party insurance doesnt cover you for vehicle damage or theft. As the name suggests CTP insurance is compulsory in all states of America and you cannot register a vehicle without first buying CTP insurance. Having such compulsory basic car insurance that only covers damage done to the third partys car means that when an accident is your fault you have to repair damages to your own car out of your own pocket.

This means that if you injure another driver or a pedestrian whilst driving you do not have to pay the compensation owed to the injured person. Compulsory third-party insurance also known as CTP insurance or a green slip is compulsory if you want to register a vehicle in Australia. CTP insurance covers those injured in a crash for.

This amount will be paid by the insurance company. What is Compulsory Third Party Insurance CTP. Even if they want they drop it at the thought of.