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Things you need to know about compulsory third party insurance

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A ctp or Compulsory third party insurance is never a bad deal if you know its importance and how it helps you and others in maintaining a good level of protection for the vehicles on the road in Australia. Though sometimes people who are not aware of the various aspects and various features of the ctp green slip and how it is important to get it for the vehicles in areas where the insurance is compulsory. Still, there are lots of details and helpful explanation to help people understand the importance and basic features of the insurance policy so that people would not hesitate or delay in getting the CTP for their cars.

 

It is quite clear that ctp is a bit different from other kinds of insurance policies and options in many ways.

 

The first thing that you should be clear about is that the CTP offers coverage for the people who get injured by the vehicle. Due to the fact when a third party damage or injury is caused by the vehicle the owner of the vehicle is required to compensate it and that is the time when CTP gets into effect and provides necessary support and coverage.

CTP assures that in case a vehicle causes the loss it will be compensated without any issues and may not be dependent on the person who has caused the incident or the loss.

Having a CTP does not mean that you may ignore the comprehensive insurance as there is no coverage for property damages and other such losses and you may need to explore in detail so that you understand the difference better.

Due to the fact, the third party injury has to be compensated, obtaining the CTP would be mandatory so that there are no ambiguities in case if the vehicle gets into any kind of trouble on the road.