Car insurance

Written into the NSW law under the Motor Vehicles (Third Party Insurance) Act 1942, CTP insurance is designed to protect people who are injured as a result of the negligence of other drivers.

Before this law was passed, people who were injured in car accidents for which they weren’t at-fault, had to either pay for personal injury costs themselves, or recover the costs from the at-fault driver. Without insurance to cover these costs, compensation could be financially devastating for either party. 

Now, if you own a car it’s a legal requirement to purchase CTP insurance, alongside your registration. If you’re caught without CTP and registration you could face a heavy fine. 

Third party car insurance offers an essential level of protection. It provides cover for damage caused to someone else’s vehicle or property which was caused by the use of your car. For an extra premium, our Third Party Car Insurance can also cover your car for fire and theft, for up to $10,000.  

Comprehensive car insurance offers an additional level of protection. Australia Post Comprehensive Car Insurance is our broadest level of cover. It covers repairs to your car for damage caused by things like collision, fire, theft and weather events. It also covers damage to someone else’s vehicle or property caused by the use of your car.

For more information about the benefits of the different types of car insurance, please read the relevant Combined Financial Services Guide and Product Disclosure Statement. 

Compulsory third party insurance, also known as a CTP or Green Slip, is mandatory in Australia. In NSW, QLD, SA and ACT you may choose your CTP provider. (Similar personal injury insurance is included in a motor vehicle’s registration cost in other parts of Australia.)

If you or anyone driving your car causes an accident in which someone else is injured, CTP covers their medical costs and compensation they are entitled to.

CTP doesn’t cover damage to your car or the responsibility of the driver of your car for damage caused to other people’s vehicles or property. 

CTP insurance, or ‘Green Slip’ in NSW, covers compensation claims for drivers and passengers who are injured or killed in a motor vehicle accident. It doesn’t cover the cost of damaged vehicles and property, or damage to – or loss of – your vehicle.  

Third party car insurance covers you for damage to another person's car or property which is caused by the use of your car. 

Agreed value is the amount you and your insurer agree to insure your car for, for one period of insurance. You can find the agreed value on your Certificate of Insurance.  

Market value is the amount your vehicle is worth on the open market right before the claimed incident. As part of the claims process, QBE (our insurance provider) will determine the market value of your car using recognised industry guides. Factors like its make, model, age, kilometres travelled, accessories and modifications fitted as well as its general condition will also contribute to determining the value of your car.  

Your choice of agreed value or market value is reflected in your premium.