Whenever you pay your registration fee in the ACT there’s a built-in component called compulsory third party insurance, or CTP. All drivers in Australia are required by law to have CTP.
CTP insurance is designed to protect everyone on the roads from personal injury claims resulting from an accident, so that if someone is injured or dies you don’t have to directly pay the associated costs.
For more information relating to CTP in the ACT, visit ACT Department of Treasury.
This is cover to protect people, however, not property. So if you’re after insurance to cover you against damage bills, you’ll need to take out extra cover.
There’s no avoiding the fact that if you aren’t sufficiently insured in an accident, there’s no one else but you to pick up the tab. One unfortunate accident could wipe you out financially in the blink of an eye. Imagine having to potentially scrape together tens of thousands of dollars because the person you just hit owns a luxury car?
Comprehensive insurance gives you a safety net should the unimaginable happen. It’s the most popular type of cover in Australia for insuring damage to vehicles or property, and is something that pays dividends if you need to call on it. At comparethemarket.com.au, we’ve made it easy for you to compare a number of comprehensive quotes from a number of leading Australian insurance brands all in the one place. Check out our simple online comparison tool and see if you can get a better rate on your comprehensive insurance today.
