Do I need third party insurance if I have comprehensive?
Do I need third party insurance if I have comprehensive?
The New South Wales Roads and Maritime Services (RMS) requires you to register your vehicle with a Compulsory Third Party (CTP) Insurance or commonly known as greenslip. Once registered, your CTP or greenslip are effective anywhere in Australia.
Is it mandatory to have third party insurance?
Yes, third party motor insurance is mandatory for two-wheelers and four-wheelers in the country. This mandate has been set by The Motor Vehicles Act, 1988.
What is CPA car insurance?
The Compulsory Personal Accident (CPA) cover by Liberty General Insurance is a standalone compulsory Personal Accident policy exclusively for the owner-driver of the vehicle.
What is difference between od and TP insurance?
While the OD part provides coverage for any damage caused to the insured vehicle, the TP part covers the policyholder’s legal liability arising due to damages inflicted to a third party individual or property due to his/her negligence driving. Feb 5, 2021
What is basic TP premium?
Third Party Cover (TP) The third party insurance covers damages triggered by your vehicle in the event of an accident. It is mandatory, as per the Motor Vehicles Act (1988). The basic premium for TP cover depends on the Engine capacity or cubic capacity of the car.
