1Cover No Longer Provides CTP Insurance

1Cover is sorry to announce that we are no longer providing quotes for NSW Green Slip Car Insurance comparisons. Although we have withdrawn the NSW Green Slip car insurance comparisons from our portfolio we do still provide a competitive range of Comprehensive Car Insurance products.

Call 1300 126 837 for a low cost insurance quote on your car insurance.

Do You Know The History Of the CTP?

Compulsory Third Party insurance (CTP insurance) was introduced as law within Australia in the 1930s to overcome the financial distress caused by drivers who were unable to pay compensation to those they injured with their motor vehicle. Lack of insurance - insurance being a precaution that was optional at the time - resulted in insufficient compensation being available for innocent accident victims. This made the introduction of CTP cover a vital necessity.

Your CTP policy covers you for any claims that are made against you if you cause bodily injury to another road user in a motor vehicle accident that is your fault. Other road users, or "Third Parties", include your passengers, other drivers and their passengers as well as pedestrians and motor cycle drivers.

While everyone must have it, not everyone understands exactly what is covered by CTP insurance. Below are three commonly misunderstood facts about CTP insurance:

1. CTP Insurance belongs to your vehicle

Many drivers are not aware that the CTP insurance they take out belongs to their vehicle, not to them personally. This means that, even if someone else is driving your vehicle at the time, they are covered by your CTP insurance policy. It also means that, if you sell your vehicle, the CTP policy will transfer to the new owner.

2. CTP Insurance does not cover you as the driver

While some feel they are personally covered by their CTP Insurance, CTP only covers injury to third parties. That is, if you are the driver in an accident that is your fault, your CTP insurance will not cover your injuries. If you can show that another motorist was at fault, however, you may be entitled to claim on their CTP insurance.

3. CTP Insurance does not cover property damage

CTP insurance only covers liability for bodily injury caused to third parties. To cover yourself against liability for damage caused to property, you will require third party property insurance or comprehensive car insurance.

CTP insurance is compulsory and must be paid before you can register your vehicle. While you may not have a choice as to whether or not to purchase this important protective insurance, in NSW and QLD you do have a choice of which insurance provider handles your insurance and any claims that are made against you as well as how much you have to pay for your cover. That’s right. Even though your vehicle registration is a price set by the government of your state over which you have no control, in NSW and QLD you do have control over how much you pay for CTP Insurance. CTP premiums will vary and may change over time so it is important to shop around and compare insurance providers.

1Cover does not provide CTP insurance.

Auto insurance is a fantastic peace of mind in our fast paced world. However staying alert and observing the speed limits and road rules to safeguard your life and the lives of your loved ones is worth far more.

1Cover management and staff wish you safe driving.