What happens if you only have third party insurance?

What happens if you only have third party insurance?

Third party property insurance generally only covers damages caused to 3rd parties by your negligence. It does not cover damage to your own property. If you receive a demand for damages allegedly caused by you, you should contact your insurer and make a claim.

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.

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.