Compulsory Third Party (CTP) Insurance in the ACT

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Last Updated 09/12/2024
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Updated MAI insurance costs. Added key points in summary.
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Written by

Francis Taylor

Last Updated 09/12/2024

What changed?

Updated MAI insurance costs. Added key points in summary.
Our aim is to help you make better informed decisions. That’s why iSelect’s content is produced in accordance with our fact-checking and editorial guidelines.

Find out more about how we make money.

View our Privacy Policy.

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Long story short

1
CTP insurance explained

The CTP insurance scheme, or MAI insurance, is compulsory within the ACT. It protects you financially if you injure others in an accident and covers your own injuries too.

2
CTP insurance costs in ACT

Annual premiums for passenger vehicles in the ACT range from $390.60 to $409.20. Costs are community rated, meaning everyone pays the same within a provider.

3
Key features of CTP insurance in ACT

Unlike other states, the ACT’s MAI scheme ticks all the boxes – no fault coverage, community rated premiums, compensation for lost income, and multiple providers to choose from.

4
CTP insurance exclusions

CTP insurance In the ACT doesn’t cover vehicle damage, property damage, and unlawful activity. Consider additional car insurance to be protected on all fronts.

What is CTP insurance? 

Compulsory third party (CTP) insurance is a type of car insurance that drivers are required to hold. At its most basic, if you get into an accident and you’re at fault, it covers your legal liability for injuries to others, including pedestrians, cyclists, passengers, and other drivers. 

CTP insurance can work a little bit differently depending on which state or territory you’re in. In New South Wales, it’s often called Green Slip insurance, whereas in the ACT, it goes by the name Motor Accident Injuries (MAI) insurance. The details of exactly what it covers can vary, too. 

Wherever you are though, all CTP insurance still has one thing in common: it protects you financially if you injure someone else on the road.  

If you don’t have CTP, you could be held liable for all these costs. Yikes! The good news is, it’s pretty hard to forget to get CTP – because it’s mandatory, it’s generally part of the process when you register your car.

How does CTP insurance work in the ACT? 

Back in 2020, CTP insurance in Canberra got a refresh. The slightly boringly named compulsory third-party (CTP) insurance scheme got replaced by the (OK, still pretty boring) Motor Accident Injuries (MAI) scheme. 

This isn’t just a name change, though: MAI is the definitely souped-up version of the old scheme. While the old scheme only covered you for other people who got injured (hence the name ‘third party’), the new one also covers your own injuries, no matter who was at fault. Anyone injured is also entitled to receive benefits for medical treatment and lost income for up to five years. Essentially? It gives Canberrans more of a safety net if they get injured on the road.

What makes CTP insurance in the ACT unique? 

When it comes to CTP insurance, the ACT has one of the most comprehensive schemes out there. Just take a look at how it stacks up to the other states and territories: 

 ACT NSW VIC QLD SA WA TAS NT 
Community rated 
No fault scheme 
Payment for lost income  
Multiple insurers 

Yep, Canberra checks all the boxes! So, what do those boxes actually mean? 

  • Community rated: Your premiums are based on industry averages, not on your individual driving patterns or driver history.
  • No fault scheme: Everyone involved in an accident is insured, no matter who was at fault.
  • Payment for lost income: Injured people can be compensated for income they’ve lost or will lose as a result of the accident.
  • Multiple insurers: Instead of being provided directly through the government, CTP is sold by different insurance providers, and you can choose who you take out a policy with.  

How much does CTP insurance cost in the ACT? 

When it comes to the price for MAI Insurance, there’s some wiggle room. You’ve got four options to choose from – AAMI, APIA, NRMA and GIO – all with their own prices. But here’s where it gets better: MAI’s community-rated system means things like your driving record or the make and model of your car won’t jack up your premium.

So, while different insurers still charge different premiums, each specific insurer only charges one premium for all passenger cars. 

What a relief! But how much do these premiums actually cost, you ask? Well, annual premiums range from $390.60 to $409.20 for passenger cars.1ACT Government – NRMA MAI Premiums effective 18 June 2024,2ACT Government – GIO MAI Premiums effective 19 March 2024,3ACT Government – AAMI MAI Premiums effective 1 February 2024,4ACT Government – APIA MAI Premiums effective 19 March 2024 Keep in mind that this price is not for people who receive input tax credits towards their MAI premium; for them it will cost slightly more.  

What doesn’t CTP insurance cover in the ACT? 

MAI insurance can be a lifesaver when it comes to medical and rehabilitation costs, but it won’t give you protection for everything. Let’s break down some of the things it doesn’t cover: 

  • Vehicle damage: MAI insurance won’t pay for repair costs. This is bad enough if someone busts up your car. But if you cause an accident and smash into another person’s car? You might also be liable for the damage.
  • Property damage: Knocking over someone’s mailbox or crashing into their fence isn’t covered by MAI insurance either.
  • Unlawful activity: People who break the law while driving might not end up receiving any MAI benefits. Of course, upstanding Canberrans like yourself can probably rest easy here! 

So, while MAI is essential for personal injury claims, it still has its limitations. This is where considering additional car insurance might be a good move. 

Do I need additional insurance on top of CTP? 

Legally, you don’t have to hold any other car insurance policy besides MAI. However, it’s worth noting that MAI is the bare minimum. If you don’t have any additional insurance, you could be leaving yourself open to a lot of risks. Hopefully, your car will never get stolen and you’ll never crash into someone else. But if you do? The costs could be a lot more than what you’d end up paying for an extra premium. 

You can also decide the level of cover. From least to most expensive, you can pick from the following: 

  • Third-party property insurance: This one goes beyond CTP by covering the costs if you damage someone else’s car or property. It’s a good next step for broader coverage.
  • Third-party fire and theft: This policy includes everything in third-party property and adds on coverage for your own car if it’s stolen or damaged by fire.
  • Comprehensive insurance: This is the full package. It covers damage to your own car, whether it gets smashed in an accident or wrecked by a storm. Some insurers even include extra perks like emergency accommodation. 

It’s also worth noting that none of these policies cover you for personal injuries. That’s something only MAI insurance covers – which is part of what makes it so important. 

How do I renew my CTP insurance? 

The ACT keeps things pretty simple when it comes to renewing your MAI insurance: you take care of it as part of your rego. 

When it’s time to renew your car registration and MAI policy, Access Canberra will give you a little nudge. You can pay for both of these essentials through Access Canberra’s website, with a little extra flexibility when it comes to your premiums: you can pay for them in three, six, or 12-month instalments. 

Where can I find and compare car insurance? 

If you’re after a car insurance policy that goes a bit further than simple MAI, then iSelect has got you covered. 

Using our online comparison tool, you can compare a range of policies from different providers. Whether you’re after third party property insurance, something for fire and theft, or comprehensive cover for all of life’s ups and downs, you’ll find a vast selection. So, give it a go today – it’s simple and free! 

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