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Updated 23/06/2023
What changed?
Expanded FAQ section to include information on towing, payment frequency and what happens if someone hits your car.
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Fact checked
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.
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Written by

Mel Basta

Updated 23/06/2023

What changed?

Expanded FAQ section to include information on towing, payment frequency and what happens if someone hits your car.
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.

Edited by

Laura Crowden

Find out more about how we make money.

View our Privacy Policy.

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Third Party Property Insurance

If you’ve recently bought a car, or received your renewal notice, you’re probably considering your options for Car Insurance.

If that’s the case, you’ve probably noticed that one of the cheaper options available is called Third Party Property Insurance (TPP).

How do I find a suitable Third Party Car Insurance policy?

Once you’ve weighed up all the pros and cons, it’s time to find an insurer that offers a TPP policy you like. With iSelect, you can compare Third Party Property policies online from our range of policies and providers. Click here to get started today!

Third Party Property Insurance Premiums

How are Third Party Property insurance premiums calculated?

As with all insurance policies, insurers consider a range of factors to determine your third-party property premium. Knowing and understanding these factors could help you save money by making choices that can positively influence your premiums. Some of these factors include:2  

  • Your age 
  • Where you live 
  • Type of car 
  • Level of excess 
  • Safe driving record 
  • Modifications 
  • Bundling your insurances 

 

Ways to save on Third Party Property Insurance

Excess

Modifications

Safe driving record

You can choose to opt for different levels of excess. By choosing a higher excess, you’ll pay more in the case of a claim, but your premium is usually lower.3  

It can be tempting to opt for the highest level of excess to reduce your premium as much as possible, but make sure you’ll be able to afford the excess payment if you ever need it. Otherwise, you may find yourself with a nasty bill if you have an accident that’s your fault. 

Keeping your car standard by avoiding modifications may help you save money on your insurance – particularly if you’re opting for an uninsured motorist extension on your third party property policy.4 

A safe driving record may give you a discount on your premium,5 as insurers often see less risk in insuring you. Insurers sometimes offer a no-claim bonus, which rewards you for maintaining a claim-free driving history. But this doesn’t always equal to a discount on your premium, so it’s worth shopping around.

Third Party Property Insurance explained, with iSelect.

Learn more about how Third Party Property Insurance works in this short video.

Frequently Asked Questions

How is Third Party Property Insurance different from Compulsory Third Party (CTP)?

What does Third Party Property Insurance typically cover?

What is Third Party Property Insurance likely to exclude?

Is Third Party Property Insurance worth considering?

Does Third Tarty Property damage insurance cover towing?

How often will I have to pay premiums?

Will I be covered if someone else hits my car?

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