What kind of car insurance do I need?

17 December 2018

No matter where you are in Australia and no matter what road you drive on, there is always a risk of having an accident, whether it’s your fault or not. There are tens of thousands of road accidents every year in Australia, which is why it’s so important that if you’re unlucky enough to be involved in one, you are covered.

Even if you aren’t involved in a road accident, your vehicle can still be damaged by a storm, in a fire or stolen. Because life is unpredictable, make sure you know what type of insurance coverage you will need to protect yourself.

Some types of insurance are included with your vehicle registration. Read on to find out which you need, and which you already may have.

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CTP Insurance

You may have already heard of CTP Insurance, Compulsory Third Party Insurance or Green Slip Insurance – no matter what they are called, they’re all the same thing.

The purpose of CTP Insurance is to cover you against compensation claims made by people who have been injured in a motor vehicle accident where you are the at-fault driver. The people that could ask you for compensation are other drivers involved in the accident, passengers in your car, pedestrians, cyclists or motorcyclists.

The key thing to remember about CTP Insurance, is that it is compulsory in every state of Australia. The only thing that changes state-by-state, is how you get that insurance.

For those living in Queensland, you will have a choice of your CTP Insurance provider and will need to purchase this when registering your vehicle.

If you live in Victoria, for example, you automatically pay CTP Insurance as part of your registration – you will see it under ‘TAC Premium’ in your renewal notice.

All states operate slightly differently, so make sure to check with your state’s regulatory body to find out if you need to purchase CTP Insurance and who offers it.

Find Out More About Queensland CTP Insurance

Third Party Insurance

Third Party Insurance is very different to CTP Insurance and covers very different things, so don’t get them confused.

Where CTP Insurance covers you against the injuries of people, Third Party Insurance covers you (and any authorised drivers of your vehicle) for the damage your car causes to another person’s vehicle or property. Suncorp’s most basic level of Third Party Insurance also covers a range of scenarios such as damage to your vehicle by an uninsured driver (where you are not at fault).

If you are interested in Third Party Insurance but would like a bit more cover for your vehicle, you may also want to consider Third Party Fire and Theft cover, which insures you for a range of scenarios such as loss or damage to your vehicle if it is damaged by fire, stolen  or damaged by an uninsured driver (where you are not at fault).

No matter which insurer you choose, make sure you always read the Product Disclosure Statement (PDS) before purchasing insurance to know what you’re covered for.

Find Out More About Third Party Car Insurance

Comprehensive Car Insurance

Comprehensive Car Insurance is the jack-of-all-trades of car insurance that will cover you for a range of scenarios – whether they’re your fault or not, or whether they impact your or another person’s property. For lack of a better word, you will be covered comprehensively.

This type of insurance combines accidental loss or damage cover and Third Party Property Damage Cover into one package, making it possible for you to claim for a range of incidents. Suncorp’s Comprehensive Car Insurance will cover you for the following, plus many more scenarios:

  • Accidental loss or damage to your car from events such as flood, storm, collision and theft
  • Accidental loss or damage to another person's vehicle or property
  • Malicious damage or vandalism to your car
  • Hire car after theft for up to 21 days
  • After claim expenses
  • Lifetime guarantee on the quality of materials and workmanship of repairs that we authorise

How much you pay for Comprehensive Car Insurance (also known as your premium) will depend on a range of factors including how much your car is worth, how old your car is and where you live. Every insurer will charge a different amount and cover you for different things, which is why it is so important to read the PDS to make sure you know what you will and won’t be covered for.

Find Out More About Comprehensive Car Insurance

Optional Covers

Depending on the level of Comprehensive Car Insurance that you choose with Suncorp, consider purchasing one or more of the optional covers.

Suncorp Roadside Assist

Suncorp Roadside Assist can be your saving grace if something goes wrong. Whether it be a flat tyre, a flat battery or being bogged in the mud, having Suncorp Roadside Assist will let you call for 24\7 support and get someone to come to your rescue.

Find Out More About Suncorp Roadside Assist

Windscreen and Window Glass Cover

Sometimes an incident will happen that will only impact your windshield, window or sunroof, and instead of having to pay an excess to make a claim, Windscreen and Window Glass Cover will have you sorted.

Suncorp will cover the cost to repair or replace your windscreen or window without you having to pay an excess for the first claim. This can be extremely handy if you live in an area with dirt roads with loose rocks or even if you drive on the freeway where your windshield can be hit at speed.

Hire car after an event

Being in an accident can be a burden, not just because of the damage caused to your property, but your lifestyle is impacted as well. How do you drop the kids to school or get to work while your car is in the shop?

This is why having this additional coverage is so helpful. Suncorp can arrange (and pay for) a hire car for you that is similar to your make and model, so your day-to-day life won’t be impacted after your accident.

Depending on your level of coverage, you can either opt to cover 21 days or an unlimited amount of days.

Whichever car insurance product you choose, make sure to always read the PDS to make sure you know what you’re covered for and whether you think you will benefit from any optional extras.

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Insurance is issued by AAI Limited ABN 48 005 297 807 trading as Suncorp Insurance. Information provided is general advice only and has been prepared without taking into account any person's particular objectives, financial situation or needs so you should consider whether it is appropriate for you before acting on it. Please read the relevant Product Disclosure Statement before making any decision regarding this product. Suncorp Roadside Assist is provided by Digicall Assist Pty Ltd.