Green slip or compulsory third party insurance is one of the most important kinds of vehicle insurance that each and every vehicle in Australia may have to get before the vehicle gets on the road. Though it is important to note that when you are in need to get a green slip you should not alternate it with getting a car insurance quote because this is totally different from that of the usual car insurance.
There are many misconceptions in the minds of the people who are new to this and may not understand the importance of having the green slip for your vehicle. Since it is termed as the green slip it means that you and your vehicle will be safe while assuring the other’s safety as well.
It is a sign of taking responsibility for others and your own acts that may affect others on the road.
Though in most cases people may think that having a green slip doesn’t benefit the insurance holder rather it is for the sake of the safety of others because the only a third party is considered.
There are many different misconceptions that may affect people having the green slip.
It is important to correct the misconceptions because if people don’t consider it beneficial they may think that it is an extra burden on their pocket. This is not true at all.
The first thing is that when people have the compulsory third party insurance they don’t have to pay huge amounts rather there is a considerable amount that is to be paid for the insurance because you need to stay on the safe side if you are the cause of an accident that has harmed another vehicle or the person on it.
Also, the insurance though covers the third party but it, in fact, benefits the one who buys it because the financial burden to compensate the third party is removed from the shoulders of the person who has the green slip. So, it is a mutual benefit that should not be ignored at all.
