- Do I Need Car Insurance?
- Luxury Car Insurance Australia
- When To Start Your Car Insurance
- Car Insurance Information
- How Car Insurance Premiums Are Calculated
- Types of Car Insurance
- Comprehensive Vs. Third Party
- CTP Insurance
- Save Money On Car Insurance
- Switching Car Insurance
- Agreed Vs. Market Value
- Find The Best Car Insurance
- Tips For First Time Drivers
- Buying car insurance
- Third Party Fire and Theft Car Insurance
- Seniors car insurance
- Car Insurance Excess
- Car insurance Victoria
- Car insurance NSW
- Car insurance Tasmania
- Car insurance ACT
- Car insurance Queensland
- Car Insurance South Australia
- Car Insurance Terminology
- How To Reduce Your Car Insurance
- Third Party Property
- Overseas Imports Car Insurance
- Add A Learner Driver To Your Car Insurance
- Car Insurance For Young Drivers
CTP Insurance For Queensland Cars: How it works & what’s covered
From Cape York to the Gold Coast, it is unlawful to drive in Queensland without Compulsory third party (CTP) insurance. In fact, CTP insurance is mandatory in every state and territory throughout Australia. In Queensland, you’re unable to register or renew your car registration without it.
In this article from iSelect, you’ll learn more about what CTP insurance is, what it covers in Queensland. We’ll also include other information which may be of assistance when looking to insure your vehicle. Keep reading to find out more.
What is CTP insurance?
Compulsory third party insurance, also known as ‘green slip’ insurance in some states, is a mandatory personal injuries insurance for motor vehicle owners throughout Australia. It’s designed to cover death and injury to any other person involved in a motor accident where you’re at fault.
It’s not an alternative to other types of property damage insurance, where things such as damage to another vehicle or property, or to your own vehicle, are covered. Each state and territory in Australia has different regulations regarding CTP insurance.
What does CTP insurance cover in Queensland?
CTP insurance is a car insurance scheme that covers your financial liability should you (or another driver of your car) injure someone while driving1. This can include:
- Passengers in your car
- Other drivers and their passengers
- Motorcyclists and their passengers
- Public transport passengers
Unlike other types of insurance, CTP insurance provides unlimited liability for personal injury caused by, through or in connection with the use of the insured vehicle1. Depending on the circumstances it may cover a range of costs, including the medical treatment, rehabilitation, loss of income, cost of care and support services and general damages (pain and suffering) depending on the injury and whether it is serious enough2.
For fatal injuries, it can also cover funeral costs and financial loss arriving from the death for a surviving spouse, de facto partner or dependents. Each claim is assessed on a case-by-case basis.
Before deciding on a policy ensure you review the Product Disclosure Statement which outlines policy inclusions, exclusions and limitations.
There are situations where no claim can be made against your CTP insurance, for example if the injured person was totally at fault, or if no one was at fault3.
How is Queensland different when it comes to CTP?
Every state and territory treats CTP a little differently, and Queensland is no exception. While many states automatically include CTP cover as part of your car’s registration fee, Queensland drivers are free to choose their own CTP insurance provider at registration time4.
From 1 October 2000 onwards, Queensland’s Motor Accident Insurance Commission (MAIC) has set the range for CTP insurance prices. Licensed CTP insurers are then allowed to determine their premium rates every quarter within this range5. To sign up, you simply need to compare your options, then nominate your preferred provider on your registration form or renewal notice and pay your fees.
Alternatively, you can choose to nominate your preferred CTP provider and pay for this separately before renewing your registration.
Is CTP insurance all you need to be covered in Queensland?
While CTP offers financial protection against injuries to third parties, it doesn’t pay for damage to your vehicle, or to other people’s vehicles or property if you cause an accident. It also doesn’t cover your car against fire, theft or vandalism. If you’d like to be covered for these additional circumstances, then you may need to purchase additional cover.
It’s important to know that choosing not to purchase comprehensive or third party cover on top of your CTP insurance can potentially lead to serious financial consequences.
There are usually three options you may choose to consider.
Third Party Property:
Third party property insurance can cover damage to other people’s vehicles and property up to policy limits, but not to your own vehicle. As there is no protection included for your own property, the premiums can be lower than other types of insurance.
Third Party Property, Fire and Theft:
For added protection, you can upgrade to Third Party Fire and Theft, which can also protect you should your car be stolen or damaged in a fire. It still won’t cover your vehicle should you have an accident or for other events.
Comprehensive car insurance generally covers damage to your own vehicle and other people’s property, as well as theft and some other risks6.
As it covers more than other types of car insurance, the premiums can be higher. Although, sometimes this can be reduced slightly by increasing the cost of your excess.
It’s important to always read the Product Disclosure Statement (PDS) of your policy to get a better understanding of policy inclusions, limitations and exclusions.
Compare car insurance policies with iSelect today
With different insurers offering a vast range of benefits, discounts and features, you can do your research to ensure you find cover you are comfortable with.
Compare car insurance quotes from our range of policies and providers the easy way with iSelect online, or call our friendly team on 13 19 20.
iSelect does not compare all car insurance providers or policies in the market. The availability of policies will change from time to time. Not all policies available from its providers are compared by iSelect and due to commercial arrangements, your stated needs and circumstances, not all policies compared by iSelect will be available to all customers. Some policies are available only from iSelect’s call centre or website. Click here to iSelect’s range of providers.
iSelect General Pty Limited ABN 90 131 798 126, AFS Licence Number: 334115. Any advice provided by iSelect is of a general nature and does not take into account your objectives, financial situation or needs. You need to consider the appropriateness of any information or general advice iSelect gives you, having regard to your personal situation, before acting on iSelect’s advice or purchasing any product. You should consider iSelect’s Financial Services Guide which provides information about our services and your rights as a client of iSelect. iSelect receives commission for each product sold.