Car Insurance
The 3 main types of insurance:
- Green Slip or Compulsory Third Party (CTP) – this insurance covers any death or injuries incurred by people involved in the accident. This insurance is compulsory in Australia.
- Third Party Property insurance – covers any damage caused by your car to other cars or property. It does not cover any damage on your own car.
- Comprehensive insurance – works the same as Third Party Property insurance except that it also covers any damage caused to your car. It also covers you for theft. This insurance can be quite expensive.
No-claim bonus:
Whenever you are involved in an accident you can make a claim to the insurer. They might fix vehicles or give a cash payment. Each year that you do not make any claims your insurance should get cheaper, we call this a no-claim bonus.
