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CTP Insurance Explained – And What It Covers

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If you own a vehicle and drive on public roads, then you are required to have Compulsory Third Party (CTP) insurance in most states and territories of Australia. This insurance covers you for the injury or death of another person that you might cause in an accident while driving. It is also known as green slip in New South Wales, motor accident insurance in Queensland, compulsory motor vehicle accident insurance in South Australia, and motor injury insurance in Western Australia.

CTP insurance is mandatory in Australia, and it is regulated by each state and territory. The insurance is usually included in the registration fee for your vehicle, so you don’t have to worry about paying a separate premium for it.

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CTP insurance

What does CTP Insurance Cover?

CTP insurance covers you for the injury or death of another person that you might cause in an accident while driving. This means that if you are involved in an accident and someone is injured or killed, your CTP insurance will cover the cost of their medical expenses, rehabilitation, and compensation for their pain and suffering.

CTP insurance does not cover damage to your own vehicle or property, or damage to another person’s property. You will need to purchase additional insurance for these types of cover.

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Who is Covered by CTP Insurance?

CTP insurance covers anyone who is injured or killed in an accident that you might cause while driving. This includes passengers in your vehicle, pedestrians, cyclists, and other drivers on the road. If you are injured in an accident that was caused by another driver, then their CTP insurance will cover your medical expenses, rehabilitation, and compensation for your pain and suffering.

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What is not Covered by CTP Insurance?

CTP insurance does not cover damage to your own vehicle or property, or damage to another person’s property. You will need to purchase additional insurance for these types of cover.

CTP insurance also does not cover you for any criminal or fraudulent acts that you might commit while driving, such as driving under the influence of drugs or alcohol, or reckless driving. If you are found guilty of a criminal or fraudulent act while driving, then your CTP insurance may not cover you for any injuries or damages that you might cause.

Read Also:What Is Public Liability Insurance In Australia? A Complete Guide

In conclusion, CTP insurance is mandatory in Australia, and it covers you for the injury or death of another person that you might cause in an accident while driving. It is an important type of insurance to have, as it protects you and other road users from the financial burden of medical expenses and compensation for pain and suffering. However, it is important to remember that CTP insurance does not cover damage to your own vehicle or property, or damage to another person’s property. You will need to purchase additional insurance for these types of cover.

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