GUIDES & RESOURCES

Car Insurance ACT

Whether you’ve just got your first car, or your insurance is up for renewal, it’s a good idea to know what your car insurance options are in the ACT.
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What are the different types of Car Insurance available in the ACT?

The ACT, like the rest of Australia, has four main types of Car Insurance as listed below.

Compulsory Third Party Insurance (CTP) or ‘Green Slip cover’.

Whichever names it goes by, CTP is mandatory insurance for every registered vehicle in Australia. It helps provide cover in the case of accidental injury or death to another person caused by your driving. It will generally help cover for medical and some legal costs, but it won’t pay for any property damage.

Third Party Property Damage (TPPD)

The next step up is Third Party Property Damage insurance. As the name suggests, this option can help cover damage to other people’s vehicles and property caused by an accident that was your fault, although it doesn’t cover damages to your car or property.

Third Party Fire and Theft (TPF&T)

Third Party Fire and Theft insurance can help cover damage to your car because of fire or theft. It also covers third party property damage, so this is another step up in cover. It’s important to remember, this option still doesn’t cover damage caused to your car in an at-fault accident.

Comprehensive

Comprehensive Car Insurance is the top of the tree. It can help cover damage to other people’s property and vehicles as well as your own, whether an accident is your fault or not. In some cases, it also covers weather events like hail or storm damage. A Comprehensive policy may come with options to add extras to your cover, like a hire car, Roadside Assistance, or personal effects cover. These options vary between providers and some may be covered in the original premium, so it’s always worth checking out.

This table is a quick reference to Car Insurance in the ACT:

Car Insurance type

Damage to your car

Damage to another person’s car or property

Damage or loss caused by theft

Injuries or death to others in an accident

CTP

No

No

No

Yes

Third Party Property

No

Yes

No

No (but covered by CTP)

Third Party Fire and Theft

No

Yes

Yes

No (but covered by CTP)

Comprehensive

Yes

Yes

Yes

No (but covered by CTP)

It’s important to review the Product Disclosure Statement for information about policy inclusions, limitations and exclusions before deciding on a policy.

Do I require Car Insurance in The ACT if CTP/green slip insurance is included in my registration?

The short answer is it depends on your circumstances and what kind of coverage you’d prefer. In the event of an accident that’s your fault, CTP insurance is essentially a safeguard that can help cover medical costs incurred by the injured driver, passenger, or pedestrian. But, if you damage the other driver’s vehicle or someone else's property, the repair costs could come straight out of your pocket.

Only a Third Party Property, Third Party Fire & Theft, or a Comprehensive policy can cover the repair costs if you damage another person’s vehicle. Additionally, only a Comprehensive policy can help cover some or all of the repair costs of your own vehicle if it’s damaged in an accident where you’re at fault. It’s important to weigh up these considerations when determining if any additional coverage over and above CTP is suitable for you.

ACT car crash statistics

In Australia in 2019, according to the Road Trauma annual statistical report, the ACT had the lowest rate of fatal car crashes per 100,000 people in the country, which is good to know given that these are roads frequently travelled by our country’s politicians.

ACT car theft statistics

According to the National Motor Vehicle Theft Reduction council, there were 1,077 car thefts in the ACT in 2020. That’s close to three-and-a-half car thefts for every 1,000 vehicles registered. It gives the ACT the second highest rate of theft in the country.

What was stolen?

You might not expect it, but the top vehicles stolen in the ACT generally weren’t high-end European models. They included models like the Holden Commodore, Ford Ranger, Volkswagen Golf, Mazda 3, and the Toyota Corolla. It shows, just because your car’s not a super expensive model, doesn’t mean it’s not attractive to a thief.

What should I consider when looking for Car Insurance in the ACT?

If you decide you need the reassurance of comprehensive Car Insurance in the ACT, then there are a few policy inclusions you can consider. Some policies will include these, but in others, you may have to pay an additional premium. You should check to see what options your provider offers within the Product Disclosure Statement, however here are some more common ones listed below.

  • Personal effects coverage – If you’re prone to keeping items in your car some policies will cover personal effects in certain circumstances.
  • Vehicle towing after an accident – Generally policies will include vehicle towing from an accident to the nearest repairer. Check your policy
  • Agreed’ or ‘market value – An agreed value means your car will be insured for a fixed amount of money when you make a total loss claim, while a market value means that it’s assessed based on its condition and current value.
  • Hire car access – Some policies may offer access to a hire car in certain circumstances while others might charge an additional premium for this feature
  • Roadside assistance – Check with your insurer to see if roadside assistance is included under your cover, any cost associated and how far from home it will help keep you covered.
  • New car replacement – Some insurers offer to replace a vehicle in a total loss claim with a new car of the same make and model if yours is within a certain age limit.

As well as looking out for those options, you may want to consider things which could help cut your premium depending on the insurer.

  • Do a regular policy check – At renewal time, you may want to have a look around to see if there’s a better option out there.
  • Safe driver rewards/'No claims’ bonus – If you’re a safe and skilled driver who hasn’t made a claim in a number of years, insurance companies may reward you for your good record. The longer you are ‘claim-free’, the larger your discount could be, so check this with your provider.
  • Check your cover – Understand the details of your policy; you don’t want to make a claim and then be told you weren’t covered.
  • Cheaper doesn’t always mean better – Make sure you check the Product Disclosure statement to ensure you have the cover you need, when you need it.
  • Age restrictions – If you’re over 25 or 30, and won’t have a driver younger than that ever drive your vehicle, then you might be able to score a cheaper premium by adding an age restriction on your policy.

How do I compare Car Insurance in the ACT?

Well you’ve made it all the way here, so let’s start comparing Car Insurance in the ACT. It’s not hard – simply compare Car Insurance online with iSelect to compare from our range of providers in the ACT, or call us on 13 19 20 to speak to one of our team members.

Last updated: 08/09/2021

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