Third Party Property Damage car insurance

There are some things Third Party Property Damage insurance doesn’t include in its cover. Depending on your insurer, some of these exclusions could be:

• Fire damage
• Theft and malicious damage
• Storm and hail damage
• Hire car while yours is being repaired.

You may also not have access to optional extras and benefits such as roadside assistance, towing assistance after a breakdown or a hire car while yours is being repaired or replaced. Keep in mind that higher levels of insurance can provide cover for the instances above.

If someone hits your car, the damages sustained are usually covered by the at-fault driver’s insurance. While Third Party Property Damage cover provides liability cover if you damage other people’s property, it will not cover your own vehicle; instead, your claim will be taken on by the other driver’s insurance.

However, if your car was damaged by an uninsured driver in their own car, your Third Party Property Damage policy may cover you.

In this scenario, you typically won’t have to pay an excess. You will need to provide details about the other driver (like their name, contact information and licence number) so they can be identified.

The price of your car insurance policy is determined by several elements. These may include:

• The make and model of your car
• The car’s age
• Your age and gender
• Your insurance and driving history
• Your address
• Any aftermarket upgrades.

You might be able to reduce the price of your premiums depending on the choices your insurer offers. These could include:

• Adding a driver age restriction to your policy on anyone under 25 driving your car
• Choosing a higher excess for a lower premium
• Limiting the number of kilometres, you drive each year.

Always check the PDS and policy documents of any insurance policy to understand the full details of your cover before you take out a new policy.

No, Third Party Property Damage insurance isn’t the same as Compulsory Third Party insurance (CTP, or Green Slip insurance in NSW), but it’s easy to get them confused.

CTP insurance only covers you when you cause injury or death to someone in an accident that’s deemed your fault and is a mandatory requirement for all Australian registered cars. Third Party Property Damage insurance, on the other hand, is an optional insurance product that provides legal liability cover for any damage you cause to someone’s property if you’re at fault for an accident.

Some Australian states and territories allow you to choose your CTP insurer, while others don’t. In contrast, you can compare and choose your Third Party Property Damage insurance provider using our free comparison service.

You will likely have to pay a basic excess when you make an insurance claim on your Third Party Property Damage policy. Depending on the circumstances of the incident, you might need to pay an additional excess on top of the basic one.

For example, if the driver was under 25 or not listed on the policy, you may need to pay a young driver or unlisted driver excess as well.

Third Party Property Damage usually does not cover towing costs for your vehicle, but it may cover towing costs for any other party involved in an accident where you damaged their car and were found to be at fault.