Compulsory Third Party (CTP) Insurance Western Australia
Steve Oke Chapchap Market No Comments
CTP Insurance Western Australia
If you drive in Western Australia, Compulsory Third Party (CTP) insurance is a must.
Here’s a closer look at how CTP insurance works in WA, and why it’s so important to supplement it with the right Comprehensive or Third Party policy.
What is CTP insurance?
CTP insurance protects you from personal injury claims should you cause a motor vehicle accident.
In WA, CTP premiums are included as part of your registration fee whenever you register a vehicle or pay your renewal notice.
Do I need CTP insurance in WA?
The short answer is yes. As with every state and territory in Australia, it is illegal to drive an unregistered vehicle without CTP insurance.
Aside from facing hefty fines, if you cause an accident without CTP insurance you may be financially liable for damages to third parties. These costs could potentially cost you thousands of dollars.
How does CTP insurance work in WA?
Since 1943, the WA state government has been providing CTP insurance through the Motor Injury Insurance Scheme.
As with most states in Australia, the cost of CTP cover varies depending on the class of vehicle being registered. The Insurance Commission of WA has a breakdown of the price you can expect to pay for CTP insurance based on the type of vehicle you’re insuring.
What does CTP insurance cover in WA?
CTP insurance is designed to protect you from financial liability arising from injury-related expenses should you or someone else driving your vehicle cause an accident.
It covers and provides benefits for:
- Any passengers in the car with you.
- Anyone injured as a result of the accident, including other drivers and their passengers, cyclists and pedestrians.
- Anyone injured by a trailer towed by your car.
A type of ‘at-fault’ insurance, CTP insurance is designed to reimburse victims who can establish that another driver was completely or partially at fault. These expenses may include ‘reasonable and necessary’ hospital costs, medical treatment, rehabilitation, long-term care and allowances for lost income.
Is this basic CTP insurance all that I need in WA?
Some drivers may think that CTP insurance covers them for car repairs and property damage. This is not the case. To make sure you’re not left footing a massive repair bill after a fender bender, you need to purchase additional car insurance.
A separate Comprehensive insurance policy will ensure you’re covered for your own vehicle and/or damage to other people’s property, regardless of who’s at fault.
Should I get Comprehensive and Third Party insurance?
The type of car insurance that’s best for you depends on your needs and budget.
Comprehensive insurance is full-spectrum coverage for total peace of mind. It pays out for damage to vehicles and property if you cause an accident, as well as losses due to theft, fire, vandalism, acts of nature and more.
You may also be able to choose from a range of optional benefits, such as:
- Towing and roadside assistance.
- Hire car reimbursement.
- Windscreen protection.
- Lost key replacement.
- New vehicle replacement.
On the other hand, Third Party Property insurance covers damage you cause to other people’s vehicles and property only. Because it does not pay for repairs to your own car, you might choose this type of cover if you think your car is not worth insuring.
Third Party Fire and Theft insurance covers repairs to other people’s property, as well as fire damage to and theft of your vehicle.
Without adequate Comprehensive or Third Party vehicle insurance cover, you might be out of pocket for any medical bills or vehicle repairs. Don’t risk getting behind the wheel without it.
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