Comprehensive Insurance and CTP Insurance

[outatime]

if i get a full comprensive insurance, do i still need CTP??

currently, i only have CTP but having to renew it in the next 2 weeks would cost me $626 because of the new levy laws. so im thinking i might as well get full insurance for the extra cost..

[trism]

yes. CTP is compulsory, hence the name compulsory third party, whether you have full comprehensive or not

[dupac->]

YES you need the CTP greenslip regardless if you have comprehensive or not.

you wont be able to complete the registration of the car at the rta if you dont have:

pink/blue slip
CTP green slip paid
rego papers.

CTP covers personal injury and things like that. (compulsory)

comprehensive or 3rd party covers property damage and so on. (not compulsory)

[migoreng]

is there a massive difference in ctp fee between a driver over 25 years and under 25?

[dupac->]

my dads one was about $300 odd dollars or so

and mine was $550 or so..

depends which company aswell.

[migoreng]

sorry for the off topic Q..
what about registration?
does age affect the fee?
lol

[aaronng]

Depends on the age of the car as well. Have you tried using http://prices.maa.nsw.gov.au/index.html to find the cheapest price?

[Zilli]

yep... compulsory, unfotunately at the moment all insurers are sluggin anyone under 29 for CTP based on previous claims experience... the only one that discounts CTP's for anyone under 29 atm is GIO and NRMA but you have to insured with them respectively... if your under 25 your ****ed regardless....

[AKILYA666]

Damn sucks 2 live in nsw I only pay like 340 for 6months rego and ctp in qld

[Zilli]

NSW will have the option to pay 6 monthly starting this November

[sassy_fit_vtit]

CTP is a must, you can't drive your car on the road without ctp and you can't register it either. It protects you for injury and death to other people, depending on which ctp provider you go with you might also be covered for yourself as an at-fault accident.

Comprehensive Insurance Covers you for Property damage that you may cause to other peoples property and also your own.

So in English.. you hit a someones car and that persons gets injured. CTP will cover the liability you have to their injury, Comprehensive will cover the damage to their car and also yours (third party property will only cover your liability to the damages to the other persons car only)

[yorrick]

CTP (Comprehensive Third Party) is a must. It's also called the "Green Slip" and a requirement for registering your car with the RTA.
No CTP Greenslip, no rego.

There are two "optional" insurance above the CTP.
Third Party Property Insurance - this covers any damage to other property your vehicle would hit (cars, boats, houses etc). You would be very much advised to take out this insurance if you don't want to pay for the repairs for hitting someones Lambo or Aston Martin. It won't cover your vehicle - which would be old, second hand and the cost of insurance would be worth more than the car itself (eg. your car is under $5K)

Comprehensive Insurance - covers other property and your car.
This covers anything you hit and your car too (less excess) - it's more expensive, but then again, writing off your car is expensive to replace. Usually take it out if your car is worth more than $10K.

Other additional bits of insurance to add
Windscreen protection - this additional cost to insurance is mainly for people who do a lot of highway driving. It's an additional $50 a year, but if your windscreen is cracked/smashed from rocks, then it's replaced (up to a number of times - like 2-3 times) an no excess paid. Had it on my previous car for 3 years ($50/year) and replaced the windscreen by O'briens once (cost of $350 covered by insurance - and no excess paid)

Car rental allowance - an additional cost if you cannot go without a car and have no other cars to beg/borrow/steal (okay, not the steal bit!). It would allow you to hire a car at a "special rate" for a period of time. Never had it or used it.

[Zilli]

CTP is a must, you can't drive your car on the road without ctp and you can't register it either. It protects you for injury and death to other people, depending on which ctp provider you go with you might also be covered for yourself as an at-fault accident.

Comprehensive Insurance Covers you for Property damage that you may cause to other peoples property and also your own.

So in English.. you hit a someones car and that persons gets injured. CTP will cover the liability you have to their injury, Comprehensive will cover the damage to their car and also yours (third party property will only cover your liability to the damages to the other persons car only)

Can i just get technical and say that CTP doesnt cover death... if the someone other than the driver dies in an accident that is your fault... there is no benefit for death... in that case the only time the victims family gets comped is if the person had life insurance.

Hence the name, COmpulsory Third Party personal injury insurance.

it's amazing how many people out there dont know what this insurance is considering it has such a drastic effect on potential loved ones in YOUR car... no one considers that...

YOu will find advertising regarding CTP insurance moving more towards education rather than price based in the coming months... there are differences between extra benefit coverages you get for the money you pay...

[sassy_fit_vtit]

^there is cover for death as well. I work for an insurance Suncorp/GIO the payout is minimal compared to quadriplegia and it is an unlimited towards the 3rd party.

[Zilli]

:-)

you're tlaking about driver at fault in NSW... death is a 10k payout i think... we're reviewing it at the moment...

[Zilli]

:-)

you're tlaking about driver at fault in NSW... death is a 10k payout i think... we're reviewing it at the moment...

under the statute its actually comp to relatives as a provision should the family of the departed decide to make a claim... even then it doesnt go on the same scaling as an injury perse'..

Under GIO's Driver at Fault, its only covered for 10k, that is an extension of statutory cover for the driver only

[racerwannabe]

what if you own two cars, can you purchase only one CTP to cover both cars since its really just health insurance to cover other drivers so it makes no difference which car you drive.

[aaronng]

what if you own two cars, can you purchase only one CTP to cover both cars since its really just health insurance to cover other drivers so it makes no difference which car you drive.

No, you need 1 cover for EACH car.

[sassy_fit_vtit]

^correct you can't have 1 rego shared against 2 cars.

[trism]

lol what a silly question

[racerwannabe]

lol what a silly question

lol what a useless reply. I'm sure you've never ever asked a silly question before. thanks to those who helped.

[migoreng]

that sucks...

i could own 4 cars but then i have to pay ctp for all of em..that would be like $400x4 = $1600 instead of a single $400 payment...

[outatime]

thanks for the responses guys.. ok i've decided to go with nrma ctp this year since it's only 495 compared to my current memberships with allianz which is 626..

[aaronng]

that sucks...

i could own 4 cars but then i have to pay ctp for all of em..that would be like $400x4 = $1600 instead of a single $400 payment...

Similar to having 4 children. You have to feed all 4 of them food and not just yourself.

[Zilli]

thanks for the responses guys.. ok i've decided to go with nrma ctp this year since it's only 495 compared to my current memberships with allianz which is 626..

can i just ask... are you also insured with NRMA? and do you fall in the ages between 25 and 30?

[outatime]

can i just ask... are you also insured with NRMA? and do you fall in the ages between 25 and 30?

oops.. it was 495 until the final steps of signing up.. the total quote ended up as 623! so i didnt press the 'pay' button.. :o

[Zilli]

:-)

i thought so...