Understanding The Different Types of Car Insurance

If you’re looking for car insurance, chances are you’re looking for the cheapest deal. However, choosing car insurance based solely on price is not exactly a good idea for something you’ll need in critical times, like a car crash or theft. To help you understand car insurance better, we’ll explain the different types of car insurance available and help you figure out which one suits your needs.

Comprehensive car insurance

Comprehensive car insurance is just that… comprehensive. It offers the highest level of protection and is the most commonly held policy in Australia. It covers your vehicle and other vehicles or properties that incur damage in an accident, whether you’re at fault or not. While comprehensive car policies vary, It also generally covers vehicle loss, legal costs, and emergency repairs. A comprehensive car insurance policy is ideal if you have a new vehicle that would be too expensive to replace or if it is under finance. That being said, it is the most expensive type of car insurance but for the benefits you’ll get, it’s worth it.

Third party property damage

Third party fire and theft covers damages caused by your car to other people’s property. This is our most inexpensive car insurance cover and is designed for drivers who are looking for basic cover at an affordable price.

Compulsory Third Party (CTP)

CTP, also known as green slip, is mandatory for every registered driver in Australia. It covers personal injury to another party including other drivers, passengers, cyclists, and pedestrians. You cannot register a vehicle without CTP coverage and drivers without this minimum coverage face steep fines.

Getting car insurance will protect you and your family against financial losses in the event of a car accident. PD offers both comprehensive car insurance and third party property damage insurance. Apply online or call us to find out more.

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