Car insurance requirements differ according to which state you are in and you may need to consider the difference between the four types of car insurance:
- Comprehensive Car Insurance,
- Compulsory Third Party,
- Third Party Property Damage,and
- Third Party, Fire and Theft.
Key features which will affect your car insurance quote are as follows:
- the excess
- provision of a rental vehicle
- windscreen replacement
- choice of repairer
- agreed value versus market value
- age of any other drivers
- retention of rating 1
Car Insurance Companies
Compulsory Third Party (CTP)
Compulsory Third Party car insurance is as the name would suggest compulsory for all cars registered in all Australian states. It covers injury and death though in some states (NSW) it does not include the driver. If you have an accident and any other party is injured or killed then this type of car insurance covers medical and compensation costs.
Third Party Property Damage
Third party property car insurance covers the cost of repairs to other persons involved in an accident if you are deemed to be at fault. It does not cover damage to your own vehicle.
Third Party, Fire and Theft
Third Party Fire and Theft car insurance covers is similar to the simple Third Party Property Damage cover but with the addition of cover to your own vehicle for theft and fire. It again does not cover accident damage to your vehicle.
Comprehensive Car Insurance
Comprehensive car insurance is the highest cover type of car insurance you can get. It typically covers all the types mentioned above as well as damage to your car. Extra features or points of difference between insurance companies can include provision of a hire car, windscreen replacement and variable excess payments.
Disclaimer: Not all car insurance policies are the same. To fully understand the differences you will need to read the policy documents. Please check all details with the product providers before taking any action.