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Old 05-14-2004, 05:15   #1 (permalink)
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The cost of compulsory 3rd party insurance

Now - correct me if I'm wrong here (as if I needed to ask you to....) - 3rd party motor vehicle insurance is compulsory in Australia? (I'm a Kiwi - and it's not here) So can someone tell me:

1) Is it built into the annual licensing fee or do you simply get it yourself & show proof
2) What does it cost and does it depend on the car make/model i.e. a Lada pays less than a C-Class
3) Does the system actually work? I mean if some pisshead smacks into you are there any problems getting paid out?

Thanks in advance for the info.
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Old 05-14-2004, 05:23   #2 (permalink)
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Re: The cost of compulsory 3rd party insurance

i dont really think its compulsory at all. maybe it is if you buy a car from a car yard. i dont have any insurance (yet) at all and no one asked for any when it got registered. i got my car privately...sort of.
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Old 05-14-2004, 05:30   #3 (permalink)
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Re: The cost of compulsory 3rd party insurance

1. Depends on which State you are in. In QLD you pay the CTP premium as part of the rego cost but it goes to the CTP insurer.
2. $357 for my Ford.
3. If you kill or injure someone else and its your fault, the CTP insurer pays the compensation out to the injured person.

See www.maic.qld.gov.au
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Old 05-14-2004, 05:31   #4 (permalink)
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Re: The cost of compulsory 3rd party insurance

the compulsory third party you are talking about is for personall injuries, eg broken arm smashed head, they now have a limit on the amount payable. the costs of it vary from state to atate in QLD it goes by engine size and cylinders, in NSW it goes by age car engine location. not sure on cost strusture in other states.

Its part of your yearly regostration fee in QLD its a set fee no matter who you go through and is payable when you pay your rego fees ant QLD Transport in NSW you have to shop around, much like buying a sechond hand car.

wether the sytem works or not i dont know as i have never had to claim, but i assume it would be like third party property insurance, providing you were not in the wrong, and the other car was ( stolen drunk or other) you would be covered by your insurance and they would take the person to court to recover costs if they could not pay them.
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Old 05-14-2004, 05:37   #5 (permalink)
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Re: The cost of compulsory 3rd party insurance

I must have been mistaken - what I meant was cover for the damage to someone elses car in an accident - not personal injury. We have ACC levies here for personal injury cover for anyone involved - and that's built into the annual licence fee. But there's no cover for property damage. So have I got that right - it's the same as here?
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Old 05-14-2004, 05:44   #6 (permalink)
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Re: The cost of compulsory 3rd party insurance

bit of confussion with the words used but 3rd party property damage is not required but if you have it and the other party is at fualt your covered even if they dont have insurance or drunk or the car is stolen, , they just take the person who is at fualt throught the court system, so your best of getting it.

2. the costs depend on the car and driver and location so a 16 year old with a V8 in the middle of no where will pay SFA compared to some one in the city.
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Old 05-14-2004, 05:52   #7 (permalink)
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Re: The cost of compulsory 3rd party insurance

So if you have 3rd party property insurance and someone is at fault & hits you, your insurance company chases them for the money to fix your car? But isn't that comprehensive cover not 3rd party? Now I'm really confused lol.
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Old 05-14-2004, 06:06   #8 (permalink)
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Re: The cost of compulsory 3rd party insurance

CTP insurance does not cover property damage.

2 kinds of property damage cover. Full comprehensive - you are covered irrespective of fault and your car is fixed by the insurer. 3rd party property is only if you are at fault and run into someone else - your car won't be fixed but at least you will be covered against the other owner's damage.
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Old 05-14-2004, 06:13   #9 (permalink)
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Re: The cost of compulsory 3rd party insurance

the difference between the 2 is with 3rd party if your at fualt your car doesnt get fixed.
and also if it get stolen your car less if it gets damaged by the local hoods/gangs call them what you want . they dont fix it, you pay for the repairs out of your own pocket. Some companies over a fire and theft option on there 3rd party insurance not sure how much extra this cost but the pay out is normall set at a maxium amount, so your $300,000 car that has the fire and theft option that gets stolen you only get like $5000 im unsure on the amount they pay out but in most cases it less then whats the car is worth.

also one thing i left out in regards to the price you pay is your driving record the worse it is the more you pay so your drink driving speeding neighbour who has lost his license with in the last 5 years will pay more for the same car as you with a clean or cleaner driving record than his
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