Owning a car requires more responsibilities than being a good driver. You need to protect yourself and other drivers by getting insurance. Considering that most states have this as a requirement, you should make a point of purchasing the best cover from a legalized lender.
In most cases, there are several policies provided in Australia that you can purchase for your vehicle. However, the ctp green slip is compulsory in all states in Australia such that you cannot register your car without having this policy in place. Besides states such as NSW where you could be required to purchase it as a separate step before renewing your registration, in most countries, it is included in the registration process.
The compulsory third party insurance offers compensation for anyone who is killed or injured in an accident. This means that if you are at fault in an accident, you will be insured against claims for the losses and damages incurred in the incident.
At times, drivers often confuse ctp and comprehensive insurance when they are different. The green slip insurance does not cover the damage caused by property or damages to cars or theft. However, comprehensive coverage is inclusive of all these features. The insurance premium is often received by the insurer or the one who underwrites the scheme. This also means that the insurance provider will be paying claims.
In most states, you may find that the compulsory third party insurance is quite affordable and cheap. Usually, in some states, there is only one mandatory third party insurance provider, and the premium is often included in your registrations. Similarly, in some states, such as NSW, Queensland, South Australia, and CT, there are multiple insurers. This brings out the need for comparing insurance quotes. You will have to sample all the insurance providers if you happen to live in these states to get the most affordable prices.
