Compulsory third party insurance (CTP) or ‘greenslip’, as it’s most commonly known as in NSW, is something all drivers are legally required to have in all states within Australia.
It provides cover for legal liability for injury and death as a result of an accident for which the insured is responsible – be it for other drivers, passengers, pedestrians or cyclists. In most states this is included in your registration fees, however if you’re from QLD or NSW you have the option of choosing a CTP provider. Don’t be confused about CTP insurance. It won’t cover you for the cost of repairs or property damage in the event of an accident. So that’s why you’ll need additional insurance for peace of mind.
Comprehensive insurance really takes the cake when it comes to providing the right kind of cover behind the wheel. More Australians take out comprehensive insurance to protect them against the costs of accident-related damages than any other type of policy.