What’s the difference between Compulsory Third Party (CTP) and Third Party Property Car Insurance?
3 August 2022
They may sound similar but they’re completely different types of insurance! Compulsory Third Party (CTP) covers your liability for the injuries of people hurt in an accident involving your vehicle. Third Party Property Car Insurance, as the name suggests, provides cover for damage to other people’s property, including their vehicles, caused by your car.
In case you’re ever involved in an incident, it can be handy to know the ins and outs of what’s covered.
What does Compulsory Third Party Insurance (CTP) cover?
CTP Insurance, also known as Green Slip in New South Wales, covers your liability for people injured or killed in an accident caused by your vehicle if you’re at fault. This can include:
- the driver of your vehicle, whether that’s you or another driver,
- the drivers of other vehicles involved in the accident,
- pedestrians, and
- cyclists and motorcyclists.
CTP doesn’t cover damage to property, whether it’s your own or other people’s.
Is CTP Insurance compulsory?
CTP Insurance is mandatory in all states of Australia, but how you get it varies depending on your state. If you’re from VIC, WA, the ACT, Queensland, or TAS, it’ll be included with your rego.
SA and NSW drivers can choose their own CTP insurer.
If you’re from the NT, CTP Insurance is provided by the Territory Insurance Office (TIO).
CTP for Queensland drivers
Suncorp CTP Insurance offers more than just the basics. For example it includes the following features:
- Driver Protection Cover^, offering up to two mill in benefits for certain serious injuries to eligible at-fault drivers that also have Suncorp Comprehensive Car Insurance (or up to one mill if you don’t).
- A Queensland-based CTP Claims Customer Concierge.
We’re Queensland’s largest CTP insurer – helping to take care of over one million customers – for a reason!
What is Third Party Property Damage Car Insurance?
Third Party Property is a type of liability insurance that provides cover for your costs if someone makes a claim against you for damaging their property while behind the wheel. For example, if you run into their fence, hit their car on the road, or are involved in any other insured event.
Third Party Property Insurance isn’t compulsory in Australia, but it can provide peace of mind on the road – and help save you from expensive legal and repair costs for other people’s property in the event of an accident.
In an accident, does Third Party Insurance cover the other car?
Yes, it provides cover for the other person’s vehicles and property – including, but not limited to, cars! – but not your own.
The benefits of Suncorp Third Party Property Damage Car Insurance
Suncorp Third Party Property Damage Car Insurance doesn’t just cover the basics. It also covers:
- damage to your car by at-fault uninsured drivers up to $5,000 (if you can provide us the name and address of the at-fault driver and their vehicle registration number), and
- damage caused by caravans and trailers towed by your car.
You can opt for Fire and Theft cover too
You also have the option to upgrade your Third Party Property Damage policy to cover damage to your car by fire and theft. On top of the standard coverage, you’ll also be covered for:
- loss or damage from fire and theft and
- after claim expenses post-fire or theft up to $1,000.
You’ll also get reasonable costs for a hire car for up to 21 days if your car is stolen!
What is the difference between CTP and Comprehensive Insurance?
CTP provides cover for your liability for the bodily harm or death of others caused by your vehicle.
Comprehensive Car Insurance includes cover for all the basics of Third Party Property Damage – such as damage to other people’s property – as well as damage to your own car caused by things like accidents, vandalism, extreme weather and other insured events.
The benefits of Suncorp Comprehensive Car Insurance
Suncorp Comprehensive Advantages Car Insurance also provides new for old replacement for cars under two years old after a total loss. If you’re eligible*, we’ll replace your car with a similar model of the same standards and specs. Check out our PDS for more info.
Comprehensive Car Insurance also provides:
- a lifetime repair guarantee, which ensures the quality of repairs we authorise
- a hire car after theft for up to 21 days
- after claim expenses up to $1,000
- trailer cover up to $1,000, as well as
- tools of trade cover up to $1,500.
See the PDS for full details and exclusions.
Get $50 off when you quote and buy online!
Do you need Third Party Property Insurance if you have Comprehensive Insurance?
No, you don’t. Comprehensive Insurance covers everything that Third Party Insurance does.
But if you hold a Third Party Insurance policy, you can consider upgrading to Comprehensive Insurance – especially if you do rideshare driving or heavily rely on your car.
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- What you need to know when registering your vehicle in QLD, NSW, SA or the ACT
^DPC is available on Class 1 & 6 vehicles only. DPC is not available to drivers under the age of 25. Other conditions apply. Read the DPC policy wording for full details.
* You must be the first registered owner and your car must have been continuously insured under Suncorp Comprehensive Advantages cover from within 13 months of purchase until the time of total loss. A replacement car of similar make and model must be available.
Insurance issued by AAI Limited ABN 48 005 297 807 trading as Suncorp Insurance. Read the Product Disclosure Statement before buying this insurance. Target Market Determination also available. This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it.
The information in this article is intended to be of general nature only. We do not accept any legal responsibility for any loss incurred as a result of reliance upon it – please make your own enquiries.