Though we cannot say that people who are living in NSW Australia are not aware of the importance of having the green slip or the ctp insurance, but sometimes for a person who does not belong there may get confused by the differences in the insurance plans that are obtained by the various people for the coverage of their vehicles and the CTP.
It is actually the compulsory form of insurance without which the vehicles are not allowed to be driven on the road.
In simple words, people have to get the green slip before they get their vehicle on the road.
The reason behind this conditions is to provide the drivers an opportunity to stay away from the possible issues and hazards or damages that may be caused on the road, either when the insured person is at fault or when the other party is at fault.
We cannot say that the CTP will compensate you anyway when you are on the wrong side but it surely helps in case if you are in trouble and the third party has filed a claim against you.
Sometimes people would not understand the fact that there is an equal need to have third party insurance no matter if you already have car insurance or insurance for the vehicle you have with you.
It is because when you obtain the car insurance it may or may not offer the third party insurance and you can be in trouble even if you have the car insurance because you will have to pay for the claims filed by the third party whose vehicle has gotten damage due to yours.
Also paying for the third party insurance is considered as s loss because it will compensate the third party only and not the one who obtains the green slip. This should also be cleared because the green slip actually protects you from getting into huge financial expenses in the form of third party claims.
