There is a common thought among the people in Australia that when they have to buy the insurances they usually have to spend a lot more and if these insurance policies are not there they could save a lot on a yearly basis.
But the fact is that when people get the ctp green slip or ctp they are actually saving for themselves. Though it is hard to admit that you are saving instead of spending if you are paying for the right amount of coverage and the right kind of options.
Third party protection cover is not only beneficial for those who get it claimed but it only works equally for the protection of the purchasing party in the form of an insurance plan.
This is basically a cycle of benefits that assure you will be able to get the benefit for the kind of coverage you will purchase as well as you will be able to benefit others as a responsible citizen so that others may also get what they owe to the insurance company.
It should not be considered as one of the means to give the benefits or all the compensation the other party or the third party desires. Rather it helps you get through the situations when you get into an accident and you are unable to pay the expenses for the damages you have caused to the third party.
In this way, you are surely benefitted as you will not be paying heavy expenses and the insurance company will look after the issues.
So if someone says it is for others only then it is wrong. This surely helps a lot in getting compensated even if the person at fault cannot pay it on his own. That is also the reason behind keeping the CTP as a compulsion in most areas in Australia.