Car insurance covers your financial loss if your car is involved in an accident. There are three main aspects of car insurance: comprehensive car insurance, third-party insurance, and compulsory third-party insurance.
A comprehensive car insurance policy covers fixing your car damage caused by events like crashes, fires, robberies, and weather conditions. It also covers third-party vehicle damage caused by your car in such events.
Third-party car insurance provides cover for damage caused by your car to someone else’s vehicle or property.
Compulsory Third Party insurance (known as a Green Slip in NSW) covers the cost of third-party compensation if your car causes an accident in which someone else is injured.
Third parties who could ask for compensation include your co-passengers and other road users such as passersby, motorcyclists, cyclists, and any other drivers and passengers.
Comprehensive Car Insurance: Provides coverage for vehicle loss or damage from accidents, theft, bad weather, vandalism, and fire,
as well as your liability for accidental property damage that your vehicle may cause to other people.
Third Party Property, Fire and Theft: It covers you against liability for accidental damage your car causes to other people’s property, as well as loss or damage your car suffers from theft and fire.
Third Party Property Only: It covers you against liability for accidental damage your car does to other people’s belongings, including their cars.
Benefits and features