Upon purchasing vehicle insurance policy, understanding what is needed of you is mandatory. If you are a first-timer purchasing insurance, be sure to ask questions concerning regulations placed in your state. Here are some of the most common concerns raised when purchasing insurance.
If it is your first time getting insurance for your vehicle, you should not be afraid to inquire more about the type of coverage available from your policy provider. Nevertheless, you ought to know that you are required by law in Australia to have compulsory third party insurance nsw. All vehicles in Australia need this before they can be registered and legally driven on any road.
The ctp insurance is a form of personal injury cover which insures you against death or injury when in a car accident that is entirely or partially someone else’s fault. Unlike third party property car insurance, this policy protects you from incurring costs when involved in an incident. It also entitles you to medical and rehabilitation expenses, funeral costs and income-support payments.
You or your next of kin will be eligible for compensation from the ctp insurer of the driver at fault. However, some limits and exclusions also apply for this insurance. For instance, if you are doing something illegal when the accident takes place, e.g. driving under the influence of drugs or alcohol, you will not qualify for compensation.
Another concern that you may have is what happens if you lack ctp insurance. Usually, your ctp expires at the same time as your car registration. Therefore, if you do not renew your car registration and it, unfortunately, gets into an accident, you could be personally liable for any injuries or deaths to other road users. You can also be served with a hefty fine for operating an unregistered car, incurring extra expenses in the long run.